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The popular Meme Kombat presale is closing out after recently surpassing $9.2 million.
With a hard cap of $10 million, market participants face their last opportunity to buy MK at its discounted presale price of $0.279.
Once its hard cap is reached, MK will be listed on Uniswap, where its price will be determined by supply and demand. The bullish market conditions mean buying under $0.5 later could be hard.
Whales gulp MK presale supply with a 6.28 ETH order
Smart money is moving into the Meme Kombat presale, with many large orders pushing the total raise past the $9.2 million mark.
Thanks to blockchain’s transparency, these orders are easily traceable, providing invaluable insights into how deep-pocketed traders navigate the market.
As the Meme Kombat team highlighted, big-time buyers have flooded in recently, with one dropping 6.28 ETH ($17,578) on Feb. 17.
On the same day, other whales rushed in, placing orders between $1,000 and $6,300
Such demand illustrates a strong appetite for MK tokens, a bullish indicator that the project will perform well once it launches on exchanges.
But with momentum accelerating, this raises questions about what Meme Kombat is and what all the fuss is about.
Meme Kombat: proprietary battle arena and ambitious roadmap
The main criticism of meme coins is their lack of utility and dependence on speculation to drive prices.
To disarm this narrative, Meme Kombat offers a unique, flagship P2E gambling game, providing real utility while preserving the grass-roots, community-first ethos associated with meme coins.
The project boasts an augmented battle arena where users can bet on AI-generated fights between meme coin characters. They will use the $MK token, providing a steady and predictable demand stream that offsets typical meme coin volatility.
With multiple game modes and traditional odds mechanics, Meme Kombat supplies an alternative to crypto gambling protocols.
It is also worth noting that crypto gambling has been on a tear recently, with market leader Rollbit up 133% this year ($450 million market cap) and runner-up TG Casino up 496% in the last month.
But Meme Kombat’s memetic allure exposes the gambling market to a vast new audience of meme coin traders.
As per CoinMarketCap data, the meme coin sector currently holds a $22 billion market cap, presenting immense liquidity potential for this new multi-purpose project.
To stay relevant in the dynamic meme coin vertical, Meme Kombat’s roadmap eyes different seasons for its game, equipped with new characters, battle types, and rewards.
Season one kicks off immediately after the platform launch, injecting a new demand stream into the MK token to help bolster its price.
The roadmap also targets further ecosystem advancements, introducing new “game modes, partnerships, and other exciting developments.”
Meme Kombat staking and tokenomics
Staking is another celebrated feature in the Meme Kombat ecosystem. As well as rewarding loyal community members, staking encourages long-term holding, helping to reduce sell pressure and enable its price to flourish.
The feature is already live, enabling presale buyers to compound their investments. Currently, they can garner a 103% APY, but this will decrease as more tokens are staked.
So far, over 38 million $MK have been staked, and 8 million $MK have been paid out in rewards. This means that at its current price of $0.279, the project has given back over $2.4 million to community members.
30% of Meme Kombat’s total supply has been allocated to staking and battle rewards, with another 10% to community rewards. This community-first effort reflects the team’s desire for long-term success powered by a loyal user base.
Another 50% of tokens are allocated to the presale supply, with the remaining 10% to DEX liquidity.
With that in mind, a significant portion of the MK supply is almost gone, and staking rewards combined with gambling utility could create scarcity following its exchange launch.
Don’t miss out on the remaining Meme Kombat presale. Visit the project’s website to buy $MK, and follow the team on X and Telegram to stay updated with the latest developments.
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