Dogecoin hits $0.09, two meme coins in focus

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The world’s largest meme coin, Dogecoin (DOGE), rallied to $0.09 on Dec. 4. With DOGE gaining ground, some investors are also turning their attention to emerging and potent meme coins like Meme Kombat (MK) and Bonk (BONK).

Dogecoin surges to 8-month high

After weeks of lackluster price action between August and October, DOGE surged by around 55% to hit $0.092 – its highest level since April.

Daily trading volumes also spiked to above $1.1 billion, making DOGE the tenth most-traded cryptocurrency globally.

Dogecoin’s rapid rise appears to have been driven by the overall strength of the crypto market, which has seen Bitcoin (BTC) reach $42,000 and Ethereum (ETH) tap $2,200.

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However, DOGE has pulled back by 5% from Dec. 4’s peak and is now hovering around $0.0878.

Despite the pullback, meme coin enthusiasts remain bullish on Dogecoin’s prospects in the final weeks of 2023.

According to CoinGecko, over 81% of users are “feeling good” about DOGE today.  

From a technical perspective, traders will be eyeing the $0.870 level closely, given that it previously acted as resistance.

DOGE may use this level as support to build momentum for another upward leg.

Meme Kombat presale raises $2.4 million

As Dogecoin captures the spotlight, a new meme-inspired token, Meme Kombat, has emerged as a potential breakout altcoin to watch.

Meme Kombat combines elements of gaming, staking, and meme culture, featuring a battle arena where meme coin mascots fight in AI-powered matches.

Users can wager MK, Meme Kombat’s native token, on these fights to earn additional rewards.

Meme Kombat also provides staking yields set at 355% APY – with over 11.1 million MK tokens already locked.

Although not yet officially launched, interested investors can buy MK tokens through the project’s ongoing presale, which has raised $2.4 million in funding.

50% of the total MK supply has been set aside for presale investors, with tokens priced at just $0.225 during the current stage.

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The presale hard cap set at $10 million.

Once the presale concludes, Meme Kombat’s developers plan to list MK on Uniswap for broader access – an event being awaited by members of the project’s official Telegram channel.

Led by Matt Whiteman, Meme Kombat presale appears to be dominating crypto forums.

Solana’s meme coin Bonk rising as staking protocol launches

Bonk (BONK) is another meme coin investors are keeping tabs on.

Launched on Solana, Bonk is a dog-themed meme coin.

Focusing on community strength, BONK is on an uptrend, jumping 695% in the past month.

This rise pushed daily BONK trading volume above $157 million as it was listed on Gate.io and Bybit.

Although initially launched with no use case, BONK’s team recently began offering single-sided staking on liquidity pools to add utility.

Additionally, the token has attracted massive attention on social media, with some investors speculating that it could be the next meme coin to surge like PEPE.

Read more: Robinhood increases crypto trading volume by 75% in Nov.

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