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PEPE Price Continues to Slide While Dogecoin Stagnates, But Meme Kombat ICO Raises Over $300k

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It’s been a mixed week for meme coins, with established players seeing surprise drops while up-and-comers experience continued momentum.

Pepe’s (PEPE) downward spiral shows no signs of stopping, with the token falling 20% in the past seven days, while Dogecoin’s (DOGE) price remains stuck in a tight range with low volatility.

Meanwhile, meme coin market newcomer Meme Kombat (MK) is bucking the bearish trend – and has successfully raised over $320,000 so far in its presale event.

PEPE Plummets as Bearish Momentum Escalates

At the time of writing, PEPE is trading for $0.00000070 – 83% below May’s all-time high of $0.0000043.

Although PEPE rose throughout late September, this bullish momentum was short-lived, with the token plummeting over the past week.

The bears have taken control following PEPE’s rejection of the 50-day Exponential Moving Average (EMA) as resistance on the daily chart.

Adding to the bearish momentum is that PEPE broke out of a rising trendline on the 4-hour chart to the downside – a move that usually precipitates a sharp drop.

Although there hasn’t been a clear catalyst for this move, market sentiment around PEPE has soured, with traders growing tired of the coin’s lack of utility.

Whatever the reason, the technical indicators suggest that PEPE could see further downside – potentially heading back to September’s lows in the near term.

Dogecoin Stuck in Tight Range as Price Momentum Stalls

Alongside PEPE, Dogecoin has also been struggling, with the coin’s price stuck in a tight range between $0.060 and $0.064.

Price has been trapped in this range since early September, and despite some spikes in trading volume, Dogecoin has failed to break out in either direction.

Investor interest in DOGE seems to be waning, yet it still boasts a market cap almost double that of its nearest competitor in the meme coin space, Shiba Inu (SHIB).

Dogecoin’s stagnation suggests that traders are waiting for a significant catalyst that could dictate the coin’s next move.

Unfortunately, such a catalyst doesn’t seem forthcoming, with the official Dogecoin Twitter page not posting since August 18.

Moreover, there haven’t been any significant updates or announcements from the Dogecoin development team – or even any high-profile endorsements to create momentum.

As such, the coin is in a holding pattern, leaving investors and traders uncertain about its next move.

Meme Kombat Presale Raises $320k as Battling & Wagering Mechanics Draw Investor Attention

While established coins like PEPE and DOGE struggle to gain traction, a new token called Meme Kombat (MK) is bucking the trend.

Despite the stagnation plaguing these two meme cryptos, Meme Kombat has been thriving and has already raised over $320,000 in its presale phase.

During this presale, early-bird investors can buy MK tokens at the low price of $1.667 before they hit the open market this year.

Investors worldwide have been clamoring to get involved in the presale, believing that MK could be primed for significant growth once it makes its DEX debut.

One of the primary reasons investors believe in Meme Kombat is the platform’s unique battling mechanic, which sees well-known meme characters like Pepe the Frog and Shiba Inu fight against each other in AI-powered bouts.

The outcome of each bout is determined on-chain – with MK holders able to place bets on who wins and earn potential rewards through their wagers.

According to Meme Kombat’s whitepaper, MK holders can also stake their tokens and generate yields of 112% per year.

30% of the MK supply has been set aside to fund staking and battle rewards, with a further 10% earmarked to provide DEX liquidity.

This last allocation is particularly notable since it indicates the development team’s commitment to ensuring sufficient liquidity for trading MK tokens on exchanges.

Meme Kombat’s smart contract has even been audited by Coinsult, helping to protect investors from potential security vulnerabilities or flaws in the code.

These elements combine to create a strong foundation for Meme Kombat – raising anticipation that it could be set for an exciting future in the meme coin space.

Visit Meme Kombat Presale


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