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The world's largest meme coin, Dogecoin (DOGE), rose to $0.09 on December 4th. As DOGE gains traction, some investors are also turning their attention to emerging and potent meme coins such as Meme Kombat (MK) and Bonk (BONK).
Dogecoin rises to 8-month high
After weeks of lackluster price action between August and October, DOGE rose around 55% to reach $0.092 – its highest level since April.
Daily trading volume also rose to over $1.1 billion, making DOGE the 10th most traded cryptocurrency worldwide.
Dogecoin's rapid rise appears to be due to the overall strength of the crypto market, which has seen Bitcoin (BTC) hit $42,000 and Ethereum (ETH) hit $2,200.
However, DOGE has declined by 5% from its December 4th peak and is now hovering around $0.0878.
Despite the decline, meme coin enthusiasts remain optimistic about Dogecoin's prospects in the final weeks of 2023.
According to CoinGecko, over 81% of users “feel good” with DOGE today.
From a technical perspective, traders will keep a close eye on the $0.870 level as it previously acted as resistance.
DOGE could use this level as support to build momentum for further uptrend.
Meme Kombat presales bring in $2.4 million
While Dogecoin is in the spotlight, a new meme-inspired token, Meme Kombat, has emerged as a potential altcoin breakout to keep an eye on.
Combining elements of gaming, betting and meme culture, Meme Kombat features a battle arena where meme coin mascots compete in AI-powered games.
Users can stake MK, Meme Kombat’s native token, on these fights to earn additional rewards.
Meme Kombat also offers a staking return of 355% APY – with over 11.1 million MK tokens already locked.
Although not yet officially launched, interested investors can purchase MK tokens through the project's ongoing presale, which has raised $2.4 million in funding.
50% of the total MK supply is reserved for pre-sale investors, with the price of the tokens at the current stage being just $0.225.
The pre-sale cap is $10 million.
Once the pre-sale is complete, Meme Kombat developers plan to list MK on Uniswap to enable wider access – an event that members of the project's official Telegram channel are waiting for.
Led by Matt Whiteman, the Meme Kombat presale seems to be dominating the crypto forums.
Solana's meme coin Bonk rises with the introduction of the staking protocol
Bonk (BONK) is another meme coin that investors are keeping an eye on.
Launched on Solana, Bonk is a dog-themed meme coin.
With a focus on community strength, BONK is on an upward trend, up 695% in the last month.
This increase pushed BONK's daily trading volume to over $157 million as it was listed on Gate.io and Bybit.
Although initially launched without a use case, the BONK team has recently started offering one-sided staking on liquidity pools to increase utility.
Additionally, the token has attracted significant attention on social media, with some investors speculating that it could be the next meme coin to skyrocket like PEPE.
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