The post Should You Buy $MEME Coin After New Binance Listing? appeared first on Coinpedia Fintech News
$MEME exploded today surging over 1,105% following the announcement that it will list on Binance. With the crypto market hungry for the next hot meme coin, many are wondering if $MEME is worth buying into amid the hype.
$MEME first launched just last week, and crypto enthusiasts have been quick to jump on the bandwagon. The token saw parabolic growth immediately after Binance announced it would list the coin, with $MEME entering price discovery mode as buyers piled in.
At the time of writing, $MEME is trading around $0.000000243, up from just $0.000000022 since yesterday.
However, there are risks associated with chasing these types of overnight meme coin surges. $MEME is still up more than 1,000% in a single day, so there is potential for a pullback as the hype calms down. The coin’s RSI is now flashing overbought at 66, indicating the price could be due for a correction after such a vertical rally.
The main catalyst behind $MEME’s massive pump was the Binance listing announcement. History has shown that many altcoins experience a “sell the news” effect post-listing, where prices cool off as the news gets sold.
$MEME also lacks fundamentals or real utility at this point. The project founders have said there is “No utility. No roadmap. No promises. No expectation of financial return. Just 100% memes.” This means $MEME is mostly driven by speculative hype and user excitement about memes and viral trends. The long-term use case is unclear, other than capitalizing on the popularity of meme culture.
Overall, while the FOMO and hype around $MEME is high right now after the Binance listing, there are risks to chasing meme coins at all-time highs purely based on speculation. $MEME may continue pumping, but historical precedent shows most “flavor of the week” meme coins see diminishing returns after the initial mania.
So is $MEME worth buying at today’s prices? It depends on your risk tolerance. More conservative investors may want to wait for a pullback before entering. However, aggressive speculators seem confident riding the meme coin mania and betting on further upside.
Meme Kombat as a Better Alternative
As an alternative, investors may want to consider another new meme coin project called Meme Kombat, which has more long-term upside potential.
Meme Kombat combines memes, gamble-fi, and staking for an immersive crypto gaming experience. This unique blend of features provides greater utility. At its core, Meme Kombat is a gaming platform that seamlessly blends staking, betting, and earning rewards within an immersive, meme-themed battle environment.
Users can buy and stake MK tokens to place wagers on AI-simulated battles between popular meme coin mascots. When their chosen meme character wins the brawl, users earn more MK tokens and other prizes. This innovative model incentivizes holding MK long-term and positions Meme Kombat as a uniquely engaging project in the rapidly growing crypto gaming space.
It has a community-focused approach, with 50% of tokens available during presale, 10% allocated to community rewards, and 30% for staking rewards. This ensures full decentralization.
Meme Kombat enables users to gamble on AI-generated battles between popular meme coin mascots. This P2E model incentivizes holding.
The presale price is currently around $0.183 and rapidly increasing as community hype builds. Investors should hurry up since the price is increasing in just 6 days!
Meme Kombat has already raised over $1.1 million in presale, showing strong early investor enthusiasm. With meme and crypto gaming mania still in full swing, Meme Kombat is well-positioned to capitalize on these trends and deliver long-term gains.
So while $MEME’s Binance listing produced short-term speculative fervor, Meme Kombat seems to offer more compelling utility and technical advantages for long-term returns. The project’s fresh approach, surging presale demand, and blend of proven trends gives it bullish potential in 2023 and beyond.
For investors interested in the meme coin sector, parking funds in Meme Kombat looks to be a smarter bet than chasing ephemeral pumps like $MEME. Meme Kombat brings unique tokenomics and creative crypto gaming utility that position it for more sustained growth as adoption increases.
The meme coin hype won’t last forever. But projects like Meme Kombat that offer real innovations beyond speculation have a better chance of surviving once the mania subsides. For investors looking to diversify into meme coins in November and December, Meme Kombat checks all the boxes for a promising new addition.
Find the full whitepaper and roadmap at memekombat.io.
#PressRelease [Source: Coinpedia]