Binance announced the launch of a perpetual futures contract for dogwifhat (WIF), a meme coin based on the Solana blockchain. Following the announcement, the value of WIF experienced a significant increase of over 30 percent, reaching a record-breaking price of $0.46. Impressive Volatility Dogwifhat has received a lot of attention from investors as the token has increased significantly by over 300 percent in less than a month. The climb to the top began exactly seven days ago when a whale spent nearly $9 million worth of SOL to purchase WIF.
The whale had the name “Binance Insider” in its address, leading to speculation that Binance might list WIF. The whale’s activity triggered a buying wave in WIF, resulting in a 50 percent price increase in a 24-hour period.
According to data from on-chain tracking platform Lookonchain, an investor withdrew 10,000 SOLs worth approximately $1 million from Binance the previous day and then used them to purchase WIF. It was noteworthy that 16 hours after these purchases were made, Binance launched continuous futures trading for WIF.
This shows that meme coins will come to the fore. Meme Kombak (MK), the meme coin with the highest potential at the moment, also attracts attention.
Meme Kombat – A Candidate to Become the Star of 2024 with Pre-Sales exceeding 7 Million Dollars
Meme Kombat has been making a lot of talk lately as a Play to Earn (P2E) meme coin with GambleFi, staking and artificial intelligence integrations. The number of people purchasing Meme Kombat tokens is increasing day by day.
Over $7 million was successfully raised in Meme Kombat’s ongoing crypto pre-sale. Currently, half of the entire amount of Meme Kombat’s MK token is available for purchase in the ongoing pre-sale event.
MK is a gaming platform that allows users to play games and earn rewards using Ethereum blockchain technology. The company aims to organize battle arenas where well-known meme coins and characters such as Doge, Shiba Inu and Pepe the Frog engage in AI-simulated conflicts.
The outcome of these meme wars will be chosen using a random process to maintain unpredictability. Users will have the opportunity to purchase and use Meme Kombat tokens to bet on the outcomes of said battles and win prize pools. In addition, there are staking and other incentive mechanisms implemented to actively engage users and encourage the action of holding the MK token.
On the surface, it offers an intriguing combination of games, memes, and token incentives. The inclusion of popular meme coins appeals to both gamers looking for fun and cryptocurrency investors looking for the next promising venture.
Additionally, considering that both meme coins are classified as high-risk, high-reward potential speculative assets, combining the two stories creates significant interest.
Meme Kombat Tokenomy
During the pre-sale event, 60 million tokens, 50 percent of the total supply, are available for access. This allocation facilitates the provision of initial study funds to further develop and promote the platform. An additional 30 percent is allocated for staking incentives, gaming rewards, and other forms of incentive-based distribution aimed at actively engaging the community.
20 percent of the total supply is distributed equally for two purposes. These; 10 percent providing liquidity for the DEX and 10 percent organizing community contests/airdrops.
The distribution of tokens is designed to prioritize the motivation of individuals participating in the pre-sale, engaging in gaming activities, and owning tokens. A significant portion of the funds was allocated to facilitate liquidity exchange, which is crucial to ensure the accessibility of the token and facilitate trading activities.
The generous stakes, staking rewards allocated to investors in the pre-sale event demonstrate the team’s intention to generate significant interest in purchasing Meme Kombat tokens and encourage long-term holding.
Meme Kombat’s High APY Attracts Attention
While meme coins have the potential to thrive in the long term, their success mostly depends on grassroots community support rather than complex tokenomics. Rather than relying on superficial promotion, Meme Kombat aims to foster genuine engagement and enjoyment within the gaming space. The amount of funds collected shows that this has been accomplished successfully.
It is stated that if the game manages to gain popularity among players and is followed by a dedicated community, its chances of success will increase greatly. Ensuring high performance in game functionality and user experience will also be crucial.
Meanwhile, Meme Kombat’s staking feature is live and currently offers 133 percent APY, although it should be noted that this rate will decrease as the staking pool grows.
Top cryptocurrency analysts also highlight the project on their platforms for GambleFi’s horizon-expanding, benefit-rich ecosystem.
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