The crypto market has seen renewed momentum this past week, with Avalanche’s AVAX token surging over 13%. This has come as several other altcoins also posted gains, marking a clear shift in investor sentiment. Traders are now looking for the next big mover in the market – with all eyes on Meme Kombat (MK) as a gaming token that could be set for a fruitful end to 2023. AVAX Bucks Bearish Trend with Strong Price Momentum While major coins like Bitcoin and Ethereum have slumped, AVAX and other altcoins have been rallying. Since last Friday, AVAX has posted five bullish daily closes – and looks to be well on its way to making it a sixth today. During that time, the token’s value has soared above the 20-day and 50-day Exponential Moving Averages (EMAs) while breaking resistance
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The crypto market has seen renewed momentum this past week, with Avalanche’s AVAX token surging over 13%.
This has come as several other altcoins also posted gains, marking a clear shift in investor sentiment.
Traders are now looking for the next big mover in the market – with all eyes on Meme Kombat (MK) as a gaming token that could be set for a fruitful end to 2023.
AVAX Bucks Bearish Trend with Strong Price Momentum
While major coins like Bitcoin and Ethereum have slumped, AVAX and other altcoins have been rallying.
Since last Friday, AVAX has posted five bullish daily closes – and looks to be well on its way to making it a sixth today.
During that time, the token’s value has soared above the 20-day and 50-day Exponential Moving Averages (EMAs) while breaking resistance at $10.00.
According to CoinMarketCap, Avalanche’s market cap has risen to over $3.7 billion, making it the 20th largest cryptocurrency in the world.
However, despite this optimism, AVAX is still trading 92% below November 2021’s all-time high.
Much of the positivity seems tied to increasing hype around Stars Arena, a decentralized social media platform built on Avalanche.
Despite facing a security exploit earlier this week, Stars Arena’s total value locked (TVL) has surged over 350% in just three days as the platform begins to draw comparisons with X (formerly Twitter).
This influx of activity has reignited trader optimism for AVAX – with some traders speculating that it could be the next blockchain token to experience a major bull run.
Meme Kombat Poised to Capitalize on Play-to-Earn Hype
While Avalanche’s price action has been notable, trader attention may soon shift to emerging gaming tokens like Meme Kombat (MK).
This new token aims to capitalize on the hype around Play-to-Earn (P2E) blockchain games, offering users an innovative platform to bet and earn rewards on battles between meme-inspired characters.
Betting takes place using MK, Meme Kombat’s native ERC-20 token, with holders also able to stake their tokens to earn yields of 112% per year.
This high yield and the potential for large payouts through the wagering feature have made Meme Kombat an intriguing prospect for gamers and investors alike.
As seen with successful gaming coins like ApeCoin (APE) and Gala (GALA), the right combination of engaging mechanics and speculation can provide enormous returns.
Early MK investors will hope this is the case with Meme Kombat, which is still in its presale phase – yet has already raised over $320,000 in funding.
MK tokens can be purchased through the presale for just $1.667 ahead of the decentralized exchange (DEX) listings planned for later this year, offering early backers the opportunity to secure their position at a potentially discounted cost.
Reputable Founder & Audited Smart Contract Add to Early MK Appeal
Adding to Meme Kombat’s early appeal is that the project is being led by fully-doxxed founder Matt Whiteman.
Whiteman has extensive experience within the Web3 space and previously served as COO of Phat Loot DeFi – a fast-growing startup within the GameFi space.
This lends added credibility and expertise to the Meme Kombat project, boosting investor confidence.
Moreover, Meme Kombat’s smart contract has been audited by Coinsult, a highly respected blockchain security firm.
This third-party audit signifies that the platform’s code has undergone rigorous testing for security vulnerabilities and passed without any issues.
Looking ahead, Meme Kombat’s team intends to continue innovating once the platform has officially launched, releasing Season 2 of the meme battling feature towards the end of the year.
This season will feature new game modes and characters, along with additional opportunities to earn MK rewards.
With the buzz continuing to grow on Meme Kombat’s Telegram community, MK could be one of the most exciting gaming tokens to watch in the final months of 2023.
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