The meme coin market is continuing to thrive this week, with coins like Pepe (PEPE), Dogecoin (DOGE) and Shiba Inu (SHIB) seeing price surges. Dogecoin (DOGE) has also risen sharply, leading many investors to speculate that these three coins could post intra-year highs if the momentum continues. This resurgence has also paved the way for new meme coins like Meme Kombat (MK) to make a splash, with its presale raising over $740,000 already.
Pepe Coin Price Explodes as Meme Coin Market Booms
PEPE has seen a dramatic pump in the past week, with its price increasing by over 90%.
After struggling to break the 50-day Exponential Moving Average (EMA) on the daily chart, PEPE finally breached it on Monday.
This breakthrough sparked a rally that saw PEPE’s price spike to $0.00000126 earlier today, reaching its highest value since August 15.
Although the token’s price has pulled back slightly, investor sentiment remains firmly bullish, with further rises expected.
With the Relative Strength Index (RSI) sitting at 76, buying pressure remains elevated, although there is a risk that PEPE may now be in overbought territory.
However, if market conditions remain favourable, there’s a growing belief that PEPE could return to the next critical resistance zone around $0.0000015, which hasn’t been tapped since July.
Shiba Inu & Dogecoin Rally as Investors Hope for Further Gains
Shiba Inu and Dogecoin, the world’s two largest meme coins, have also been caught up in the renewed hype and bullish sentiment around the meme coin sector.
SHIB saw a massive breakout last week, with its price rising from $0.0000066 to today’s high of $0.0000082.
This 24% surge can be largely attributed to positive crypto market forces, rather than anything directly related to the Shiba Inu ecosystem.
Similarly, Dogecoin has rallied from $0.057 last Thursday to $0.0727 today, representing a 26% surge.
Like SHIB, DOGE has also benefited from positive sentiment in the crypto market – evidenced by the Crypto Fear & Greed Index soaring to a near two-year high.
This resurgence of interest in meme coins has helped push the overall meme coin market cap to over $16.8 billion, according to CoinMarketCap data.
As speculative hype returns to the crypto sector, meme coins seem poised to continue riding the bullish wave.
New Meme Kombat Token Gains Traction During Viral Presale & Raises $740,000
With the meme coin space continuing to heat up, a new entrant called Meme Kombat (MK) is generating substantial buzz during its presale phase.
Meme Kombat is a promising meme coin in the world of GambleFi, fusing decentralized finance (DeFi) and on-chain betting.
The platform centers around a battle arena where users can bet on fights between popular meme coin mascots like DOGE, SHIB, Wojak, and Pepe the Frog.
Winners of bets are rewarded in MK – Meme Kombat’s native ERC-20 token.
With investors becoming increasingly interested in meme coins, Meme Kombat looks primed to benefit from a boost in demand.
Its hybrid model taps into several growing niches, setting it apart from the hundreds of meme coins that flood the market each week with no actual use case.
Adding to Meme Kombat’s appeal even further is that MK holders can stake their tokens and earn yields of 112% per year – while also benefiting from the gambling system.
This innovative dual-earning approach is expected to be a key driver of demand once MK makes its open market debut later this year.
At the time of writing, Meme Kombat has just passed the $740,000 mark in its presale as investor interest mounts.
The project is also gaining viral momentum on social media channels, with Meme Kombat’s Telegram community growing to 2,600+ members.
Investors can buy MK tokens through the ongoing presale for just $0.1667 using ETH or USDT – although this price point is only available for one more week.