Dogecoin Despite 2023 being the year of the meme coin Dogecoin (DOGE) and Shiba Inu (SHIB) have not been able to perform as well as many would have thought. In this case, the simplest explanation is likely the right one. There are just so many other good competing projects that they can no longer dominate the market.
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For a long time SHIB and even more so, DOGE have been able to dominate the meme coin market due to a lack of real competition. However that has changed in 2023 as many others are stealing the limelight, there is more bad news down the road for the meme coin giants as Meme Kombat ($MK) looks like another project that is going to steal a lot of market attention.
At the time of writing Dogecoin is down nearly 4% in the last 30 days and Shiba Inu is down 6.4%. What is worse is the arrow is pointing down for both coins. On the other side of things, Meme Kombat has already raised over $430k even though it is only a couple of weeks old.
Let’s take a look at what makes Meme Kombat such a hot commodity.
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Meme Kombat- Get ready to experience the next generation of blockchain gaming with great revenue opportunities
It has been quite some time since we have had a P2E game that has really captured the imagination of the market but we think Meme Kombat ($MK) has that potential. First of all, the people behind the project have taken inspiration from an iconic traditional gaming franchise, we think this is crucial for any blockchain game.
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The reason for this is that although blockchain gaming is seeing consistent growth as an industry it is still lightyears behind traditional gaming when it comes to players. This is why taking inspiration from a game, in this case Mortal Kombat, is a great way to cast the net wider in search of a target audience.
Mortal Kombat is one of the most iconic combat gaming franchises of all time so if Meme Kombat can attract a small portion of their audience the project will be a huge success. The game itself is also a combat game but you will be battling with everyone’s favorite memes from the last 10 years. Pepe, Doge, Wojak, etc will all be ready to throw down for your enjoyment.
Meme Kombat is going to utilize the latest in AI technology to set their game out from the crowd. It will be used to improve gameplay and graphics but also to ensure outcomes of battles always remain random and unbiased.
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Make a killing on Meme Kombat by wagering on the battles
Now we get to the real game changer. Not only can you enjoy a great gaming experience by battling with the best memes of the last 10 years, but you can also wager on the fights. Meme Kombat has such a vast system for gambling on the battles that you feel like you are using a sports book rather than playing a P2E game.
First up, players can wager against each other. This brings a great aspect of competition to the game as friends can play against each other and make it more interesting by putting some $MK on the outcome. This is where the blockchain game really has an upper hand on the traditional game and could help the game grow to huge levels.
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Next up is the player vs the game. This is probably our favorite aspect of the wagering as it really feels like you are betting on a real sport. The odds for every battle are not the same. In fact, users can really make a killing by betting on an underdog of say 5/1 if that meme ends up winning.
Finally, we have side betting. Just in case you somehow want more than the above betting options, Meme Kombat has added a way to bet on other aspects of the fight other than just who wins. Whether it’s the first move, specific outcomes, or unique battle events, side action betting allows players to get more out of their gambling experience, offering more nuanced and creative ways to bet.
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Get even more from Meme Kombat by staking during or after the presale
Of course, like any good project that has recently been launched, Meme Kombat has made staking an integral part of their project. With a massive 30% of the total allocation of coins dedicated to staking and gaming rewards, investors can be sure of a good return.
Like any other project, staking adds a level of security to the project while creating a passive income stream for the investor. As it stands, the APY is estimated to be a generous 112% so expect investors to stake a large amount of purchased tokens during presale.
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DOGE and SHIB are not the meme coins you want to be with right now
Dogecoin (DOGE) and Shiba Inu (SHIB) are always likely to be relevant but they are certainly not the meme coins you wish to be backing right now. DOGE seems to be clinging on to the hope that X will add it as a payment method, whereas the much-touted Shibarium has not had the desired effect it was supposed to have for SHIB.
As we mentioned above, both are down over the last 30 days and the arrow is still pointing down. We would never dare right off either coin due to the huge communities they have built and their potential virality. However, things will have to change if they hope to compete with this new generation of meme coins like Meme Kombat.
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Conclusion
So as things currently stand, Meme Kombat is definitely the meme coin project investors should be looking toward. DOGE and SHIB will likely have their day again but it doesn’t look like it will be this year. Meme Kombat on the other hand is building something special and we can see their presale and beyond being a huge success.
The post DOGE and SHIB Face 4% and 6% Decline in 30 Days Amidst a New Meme Coin’s Remarkable 430k Rally appeared first on Analytics Insight.
Source: https://www.analyticsinsight.net/doge-and-shib-face-4-and-6-decline-in-30-days-amidst-a-new-meme-coins-remarkable-430k-rally/