With both Dogecoin (DOGE) and Shiba Inu (SHIB) struggling, a potential alternative for the best meme coin to buy emerges. Meme Kombat (MK) is a new crypto project that threatens to disrupt the meme coin market and create a new batch of crypto millionaires.
DOGE and SHIB are having a rough time as their process continues to plummet. It appears that investors are losing confidence that either of these once-popular meme coins can rebound and regain at least a portion of their former value. To make matters worse, a new meme coin is storming the market as we speak, further exacerbating the situation.
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DOGE Falls Below Support Level at $0.06
A long-held support level at $0.06 has fallen and DOGE can’t seem to return above it. This spells bad news for its holders, as it indicates a further slide toward the next support level, which is considerably lower. As DOGE continues to shed value, even whales are getting ready to abandon ship and seek alternative solutions.
DOGE’s inability to translate overall market enthusiasm into a steady buying pressure may doom the token’s future. The lack of interest from the investors as they pivot to tokens like MK can easily spark a spiral of death that could see Dogecoin plummeting.
Dogecoin continues to hold its place among the top 10 crypto by market cap, although just barely. Currently at the 9th spot, it is in danger of being overtaken by TRON (TRX) and then falling out of the top 10 as several cryptocurrencies are breathing down its neck. If that happens, Dogecoin will suffer from a huge psychological impact that could easily send it spiraling even further down. Smart investors are not waiting around for that to happen and instead are seeking alternative solutions like MK. Getting in early on promising projects like Meme Kombat is one of the smartest moves in investing and is a bet that could easily see 100x gains.
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SHIB Facing Bearish Market with Uncertainty
The recent news that just 9% of all Shiba Inu holders remain profitable has shocked the community gathered around the token once dubbed the Dogekiller. Considering that SHIB has lost 92% of its value from the all-time high in October 2021, the news is anything but shocking.
Similar to DOGE, SHIB has also lost a key support level at $0.000007 and is trading at $0.00000696 at the moment. With the current bearish momentum going strong, it is uncertain that it could regain it any time soon. The last quarter of the year is not traditionally the season when Shiba Inu is gaining and we could easily see it plummeting even more. Experts suggest that the next support level at $0.000006 may also be in jeopardy as the current market climate doesn’t favor old-school meme coins like DOGE and SHIB.
The lack of investors’ enthusiasm is shattering any hopes SHIB holders may have of the token bouncing back in the near future. Even network improvements like Shibarium have failed to spark the interest of traders, despite somewhat renewed community support, fractured by various groups and infighting. Just like DOGE, SHIB is facing a grim end of 2023 and may be forced to bow down to newcomers like Meme Kombat.
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Is Meme Kombat the Best Meme Coin to Buy Now?
There are several reasons why more and more experts claim that Meme Kombat is the best meme coin to buy now. The newcomer has caused quite a buzz with its novel approach, combining the meme’s popularity with an enticing Play2Earn concept, based on staking and betting.
Unlike other P2E apps, Meme Kombat includes an interesting gambling option that is sure to attract a lot of players. With online gambling on the rise, apps that manage to successfully incorporate it are seeing a huge uptick in popularity and players’ interest. With a huge player base comes massive attention from investors that could easily launch Meme Kombat’s native token MK into the stratosphere.
The timing of Meme Kombat’s launch couldn’t be better. As traditional meme coins like DOGE and SHIB struggling, the app offers investors a chance to cut their losses and invest heavily into the emerging meme coin star.
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Meme Kombat Presale Passing the $500,000 Milestone
Meme Kombat presale has just passed an important milestone, hitting half a million dollars in raised funds. This was an important psychological landmark that will make the rest of the presale go much smoother. As the presale approaches its end, the speculations about the new app are running wild, with some analysts predicting that the MK token can easily bring 50x gains for early investors.
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Wagering in Meme Kombat Offers a Lucrative Income Stream
The Meme Kombat app’s core is meme battles. In Season 1, the app offers 11 memes, all based on popular meme coins: Floki, Pepe, Pepe 2, Shiba, Sponge, Wojack, Doge, Baby Doge, Milady, Kishu, and Mong. Season 2 will see new fighters enter the arena, all trying to become meme champions.
Memes are pitted against each other in a fight to the death. Each meme is meticulously drawn by talented artists, providing players with full immersion. The fight scenes are also faithfully depicted, adding a layer of engagement.
Meme fights provide a backdrop for Meme Kombat’s main attraction, and that is wagering on the outcome. Players can place bets on their favorite memes to win and earn sizeable rewards for getting it right. It is the core of Meme Kombat’s P2E mechanic, providing a strong incentive for players to participate in gameplay.
To keep things interesting, the app offers several types of bets: Player vs Player (PvP), Player vs Game (PvGame), direct betting, and side action betting. Various betting modes allow players to choose the one best suited for them and change things up if they get bored.
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Conclusion
The writing seems to be on the wall for DOGE and SHIB as their decline continues. Both tokens appear unable to stop the price sliding as they face both internal and external problems. One of the biggest ones is the emergence of a new competitor, Meme Kombat. Rushing through presale, the new token is hailed as the best meme coin to buy now.
The post Is This the Best Meme Coin to Buy Now? A Potential Alternative Emerges as SHIB and DOGE Struggle appeared first on Analytics Insight.
Source: https://www.analyticsinsight.net/is-this-the-best-meme-coin-to-buy-now-a-potential-alternative-emerges-as-shib-and-doge-struggle/