Shiba Inu (SHIB), also known as the DOGE killer, has followed Dogecoin’s bearish trend since the start of December 2023. This is despite the overall bullish sentiment of the whole market due to the BTC ETF approval and the halving event.
SHIB saw some upswing on the 7-day market chart, but still not significant enough to spark a bull rally. The bears have affected both DOGE and SHIB, as both of them saw red trading lines for the last 30 days.
All of this has made the investors nervous and look for other meme coin alternatives – Meme Kombat ($MK) was particularly interesting to the traders. The new meme coin presale saw an influx of $2 million for the past 10 days, which brought it closer to $7 million in total funding.
Let’s dig a bit deeper.
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Increased Shiba Inu Burn Rate – Could This Result in Massive ROI for SHIB?
Like Dogecoin, SHIB started as a meme token inspired by the Shiba Inu dog breed. It quickly gained a massive following thanks to its catchy branding.
SHIB’s rapid ascent to fame is largely attributed to its clever marketing and passionate community. Its creators, known pseudonymously as “Ryoshi” and “Shytoshi,” sent 50% of the total supply to Ethereum co-founder Vitalik Buterin.
SHIB was in the middle of the best crypto investment ever, when an investor poured $8K in 2020, which earned him around $5.8 billion just a year later.
Those were Shiba Inu’s beginnings, however, most of you are already familiar with this, so let’s take a look at the current SHIB events.
Shiba Inu is known for following DOGE’s price from time to time, similar to how all altcoins follow BTC movements.
And this might prove fatal for SHIB’s short-term gains…
DOGE has been negatively tied to the Bitcoin price for the past two months, which, considering the recent ETF spot approval and the incoming halving event, is not great for these meme coins – both of them saw 15% and 2% red line for the last 30 days.
This was remedied for SHIB to some extent by the significant 400% increase in the Shibarium burn rate. However, experts are still skeptical about the near future of the coin, and they suggest steering away from it for the time being.
Instead, they suggest a new battle royal P2E crypto, Meme Kombat. Let’s check it out in more detail.
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What is Meme Kombat All About?
Meme Kombat is a breakthrough token on the Ethereum blockchain that ingeniously blends the widespread allure of memes with the excitement of combat arenas.
At the core of this project is the Meme Kombat Token, or $MK, which has been rigorously audited by Coinsult.
A standout feature of Meme Kombat is its use of advanced AI technology. This AI is
responsible for generating thrilling and unpredictable outcomes in battles between various meme coin characters.
The game goes beyond just battles; it also introduces a wagering system. Here, $MK holders can place bets on dynamic battle outcomes, providing an opportunity to earn more tokens.
Additionally, holding $MK tokens isn’t just about participating in battles. It also entitles the holders to a passive Annual Percentage Yield (APY), incentivizing a long-term commitment to the platform. This aspect of the game encourages players to engage deeply with the Meme Kombat ecosystem, fostering a sense of community and investment in the platform’s growth.
The betting aspect of Meme Kombat is multifaceted, offering several options for players. There is Player-vs-Player (PvP) betting, where players can challenge each other, setting their stakes in high-risk confrontations.
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There’s also Player-vs-Game (PvGame) betting, which allows users to place bets on various in-game events using traditional odds mechanics. This enables players to assess risk and reward in a more structured way.
Additionally, the platform provides options for Direct and Side-action Betting, where players can bet on specific battle outcomes or other dynamic elements within the game.
This blend of betting systems and AI-generated, randomized battle sequences offers a unique and immersive gaming experience.
With all processes and transactions occurring on-chain, Meme Kombat ensures a high level of transparency and fairness in its operations.
This not only adds an extra layer of trust to the system but also enhances the overall engagement and excitement of the players.
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Meme Kombat Nears $7 Million in Presale Funding – What’s Next on the Roadmap?
The recent influx of DOGE and SHIB investors to Meme Kombat has resulted in over $2M in funding in less than 10 days, the largest spree since the $MK presale started.
With that, $MK was brought closer to the end of the presale and the next step in its roadmap.
The platform is expected to launch in the first quarter of 2024. This launch will officially introduce players to Meme Kombat’s battle arena and its various features.
Right after the launch, Meme Kombat will roll out its first season, immediately immersing players in battles and competitions, setting the tone for ongoing engagement and community building.
Building on the momentum, the second season in Q2 2024 will elevate the experience with new battle types and enhanced features, aiming to cement Meme Kombat’s place in the blockchain gaming world.
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Conclusion
That’s all for today, folks. As you can see, SHIB is going to have a hard time breaking any significant milestones in the months to come unless it breaks from the pattern of following DOGE.
Until that happens, your safest choice for meme coins would be Meme Kombat, which is projected to explode at least 10X by crypto influencer Jacob Crypto Bury.
Disclaimer: This article is sponsored content and is not financial advice. CryptoNewsZ does not endorse or guarantee the accuracy of the content. Readers should verify information independently and exercise caution when dealing with any mentioned company. Investing in cryptocurrencies is risky, and seeking advice from a qualified professional is recommended.
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