As Viral DRS Token Rockets Up 25,000%, This Lesser Known Meme Coin Just Secured $400,000 in Funding – 100x Potential?
As Uptober takes grip of on-chain markets, crypto prices are surging, and the latest token to skyrocket is DAI Reflections (DRS) - which exploded +25,000% in an over-night moonshot.
The unlikely surge comes as market interest was galvanised by this young projects' promise of reflecting the DAI stablecoin on Pulsechain - alongside an upcoming
PulseChain is a full-state hard fork of Ethereum, and stealth-launched DRS offers a demand-side pressure for the DAI token - every time a DRS token transacts a 2% fee is applied; his fee is used to buy DAI stablecoin which is then distributed to token holders.
DRS Price Analysis: Will DAI-Buy Mechanism Drive DAI Reflections to New Heights?
Amid the dramatic upside move, DAI Reflections is currently trading at a market price of $0.053713 (representing a 24-hour change of +1,703%).
This comes following the explosive stealth launch at 15:00 yesterday, which surprised all with an initial +6,000% move in the first 4-hours - despite no marketing.
Overnight price action saw DRS push up a further 54% from here to hit an all-time high at $0.055565 - bringing returns for early-backers to an eye-watering +25,000%.
With DRS price action now in localized retracement, all eyes are on the $0.05375 support level - which has so far seen a well-defended consolidation mounted by 561 steadfast bag-holders.
The electric move was fuelled by an influx of more than $667k in 24-hour trading volume, which has seen DRS already surge to a $727k market cap.
DAI Reflections has an upside move targeting a return to the all-time high at $0.055565 (possible +50.7% move from here), and downside risk standing at lower support around $0.05285 (potential -22.39%).
This leaves DRS with a risk: reward ratio of 2.26 on the short-time frame - a strong entry with decent upside potential as buy pressure remains strong representing 63% of transactions over the past hour.
But while on-chain traders continue to play with out-sized risk, smart money are flocking to an emerging meme coin project that aims to gamify crypto community rivalries.
Meme Kombat Surges to +$400K Raised as Crypto Community Rivalries Heat Up
Meet Meme Kombat, a trailblazing initiative that has seamlessly blended the memetic love of nostalgic gaming, and GambleFi, into a decentralized Web3 platform - with $411,731 raised in less than two weeks.
So, what makes Meme Kombat tick, and why should potential investors keep a keen eye on this presale?
The essence of Meme Kombat lies in its captivating arena aiming to tap into deeply tribal crypto communities - with a novel approach to gamifying inter-community rivalries.
Players have the liberty to place their bets on these animated battles, predicting the outcomes and possibly reaping attractive rewards.
With a sturdy promise of Season 1 showcasing 11 distinct meme characters, there's no shortage of action, and Season 2 is already on the horizon for December 2023.
The decentralized nature of the project, combined with the thrill of AI-driven battles, ensures that the outcomes are both transparent and unpredictable - every battle is a new experience, ensuring players stay engaged.
Gamified Staking Rewards Could Fuel Dramatic Growth for Meme Kombat
Meme Kombat's commitment to transparency and trust is evident through initiatives like the impending security audit of their smart contract.
The findings of this audit will soon be public, a move that many projects shy away from.
The founder and project lead, Matt Whiteman, isn't an unknown entity in the crypto space.
His experience spanning two decades in process design, combined with his position as the COO of North Technologies, adds credibility to Meme Kombat.
When so many projects hide behind the veil of anonymity, Whiteman's open profile and the project's physical address in Amsterdam offer an extra layer of trustworthiness.
The tokenomics of Meme Kombat is also an appealing factor for potential investors - Stake the Meme Kombat ($MK) token, priced attractively at $1.667, and dive into a rewarding ecosystem.
With a generous APY of 112%, stakers not only benefit from passive income but can also use their staked tokens to place bets in the arena - this dual functionality – earning while gaming – sets Meme Kombat apart.
Intriguingly, engagement on the platform directly influences the income one can earn, so, the more you participate, the more you stand to gain.
With the GambleFi industry booming following coins like Rollbit, Meme Kombat seems poised to tap into this lucrative market with its innovative approach.
By merging memes, gaming, and blockchain, the platform is presenting something fresh to the crypto community.
For those looking to diversify their portfolio with a unique offering, Meme Kombat seems like an opportunity too good to miss - so, don't be left behind (stay tuned with the MK Telegram).
Embrace the future of meme-based gaming and betting with Meme Kombat.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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