The meme coin craze continues, as evidenced by Memecoin’s (MEME) price, which has jumped 60% in the last 24 hours to surpass $0.035.
This sharp growth reflects the hype surrounding the MEME token following its recent Binance listing.
While MEME is experiencing growth, another newcomer, Meme Kombat (MK), is gaining traction in its presale phase, with early backers anticipating similar growth upon its market debut.
The Meteoric Rise of Memecoin – A Brief Overview
Memecoin is a new meme coin launched by 9GAG, the popular internet humor platform.
As the native token of “Memeland,” MEME is designed as a speculative asset fueled by viral trends.
Despite lacking a defined use case, MEME’s innovative launch strategy has captivated the retail trader community.
This strategy involved a fire sale event and social media airdrops to build a loyal community.
Ultimately, this approach was a resounding success, given that Memecoin’s fire sale raised over $11 million.
The fire sale resulted in over 11.4 billion MEME tokens being sold at $0.001 each, exceeding the team’s expectations.
After the fire sale ended, MEME saw significant developments regarding exchange listings, particularly with its listing on Binance’s spot market.
MEME was also launched on Binance Launchpool, allowing investors to farm tokens by staking BNB, TUSD, or FDUSD.
MEME Price Rises Exponentially and Becomes Most-Traded Meme Coin Globally
The listing on Binance and additional listings on MEXC, BitMEX, and Bybit brought considerable attention to Memecoin.
Initially, the MEME price dropped 36% as fire sale investors chose to take profits rather than hold out for further gains.
However, since reaching a low last Thursday, MEME has rebounded impressively, increasing by 128%.
The token has jumped by over 60% in the last 24 hours alone, driven by speculative interest and organic community-driven support.
Memecoin’s Twitter account has grown to over 2.4 million followers, while its official Discord channel now has 296,000 members.
With its price surge, MEME has also cemented itself as the fifth-largest meme coin globally, as measured by market cap.
However, MEME is now the number one meme coin in the world based on daily trading volume.
Whether Memecoin can continue its positive momentum remains to be seen, but for now, investors and traders are keen to ride the ongoing hype wave.
Meme Kombat Aims to Be Next Big Meme Coin Combining Crypto Gaming and Speculative Appeal
Alongside Memecoin, Meme Kombat (MK) is the latest meme-inspired crypto project turning heads in the market.
This new cryptocurrency is tied into an upcoming battle arena game that brings popular meme characters to life in an on-chain fighting experience.
Players can bet on these battles using MK, Meme Kombat’s native ERC-20 token, for the chance to win prizes.
Players will also have the opportunity to stake their MK tokens, creating a dual-earning mechanism alongside the game’s wagering feature.
Meme Kombat is in a limited-time presale phase, which has now raised over $1.6 million from early investors.
During this presale, MK is on offer for a discounted price, set at $0.189 during the current stage.
However, as outlined in Meme Kombat’s whitepaper, the presale will feature 10 stages, each with an incrementally increasing price point.
This means that the MK price offered will rise to $0.205 in two days, representing an 8.4% increase
With new meme coins like MEME posting massive returns, there’s clearly an appetite among crypto traders for these speculative assets.
Meme Kombat offers exposure to this area of the market at a low entry point – which is why many early backers are touting it for big things once it makes its exchange debut following the presale.
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