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Bitcoin (BTC) reversed lower yesterday after another failed attempt to push convincingly to the north of the $28,000 level, with its 100 and 200DMAs continuing to offer stiff resistance.
Perhaps traders are reluctant to push the world’s most valuable cryptocurrency by market cap to the north of $28,000 due to the release of key US labor market data on Friday, which could shake up the macro picture.
One US data released earlier this week showed job openings unexpectedly jumping back to super strong levels, while a separate report showed the monthly pace of job gains falling to its lowest since 2020.
Up until now, the US labor market has been holding up very well despite the Fed’s extensive monetary policy tightening since early 2022 – if Friday’s data is weak and questions this narrative, that could lead to further downside in US yields, which have been pulling back from the multi-decade highs they hit earlier this week.
Lower yields on safe-haven US government bonds would suit Bitcoin (a non-yielding risk asset) and could see a sustained push to the north of $28,000.
Bitcoin’s Market Movements
The BTC price has been in a short-term uptrend since mid-September, and a clean break above $28,000 and the 100/200DMAs would signal a continuation of the recent move higher, with a retest of $30,000 potentially on the cards.
But while the near-term picture for Bitcoin (BTC) is mixed, a new meme coin called Meme Kombat has been doing very well.
Is ‘Meme Kombat’ the Most Anticipated Meme Coin Presale of 2023?
Inspired by the mega-successful Mortal Kombat gaming franchise, Meme Kombat is a new meme coin that is currently enjoying a hugely successful presale.
Despite launching barely one week ago, Meme Kombat has already been able to raise more than $300,000 in funds via the sale of its $MK token.
How has Meme Kombat been able to achieve such rapid early success?
Because $MK is much more than just your average meme coin.
Meme Kombat is building an AI-powered game at the intersection of the web3 GameFi/GambleFi worlds, where users can bet on the outcomes of various battles between characters representing popular meme coins.
Per the new meme coin’s whitepaper, “users can bet on battles in real-time, engaging with each battle as it unfolds.”
“All bets, outcomes, and rewards are recorded and processed on-chain, ensuring fairness, transparency, and trust in the system,” Meme Kombat notes.
$MK: Not Just Another Meme Coin, It Comes with Utility!
$MK is the economic backbone of Meme Kombat’s exciting new GameFi/GambleFi platform, injecting it with massive utility that most other meme coins lack entirely.
Users can secure Meme Kombat’s innovative native token $MK at a discounted price of just $1.667, a price which values the protocol at a modest $20 million market cap, leaving plenty of room for a potential pump.
Given that GameFi and GambleFi are two of the crypto industry’s fastest-growing sectors, Meme Kombat will probably enjoy quick user growth and adoption, which should mean increasing structural demand for $MK in time.
Sky-High Returns from Staking?
Its status as the Meme Kombat’s in-game currency isn’t the only thing that makes $MK worth holding.
$MK is also an amazing passive income opportunity – $MK stakers can currently earn a huge annual percentage yield (APY) of over 110%, as per the project’s official website.
How many other meme coins offer such huge APYs for stakers? Very few.
Presale investors don’t have to wait for the presale to end to start making passive income – the tokens bought by presale investors are automatically entered into the staking contract.
An official Meme Kombat staking dashboard is expected to go live in a few weeks, but in the meantime, $MK presale buyers can rest assured that they will continue to accrue tokens.
Grab $MK Tokens Now – This Fresh Meme Coin is Flying Off the Shelves!
Interested investors need to move quickly if they don’t want to miss out on what could be one of 2023’s top presales.
As word spreads and hype builds regarding $MK’s stratospheric potential – the new meme coin has already been featured on sites like Cointelegraph, CryptoSlate, and Decrypt – quick progress is expected to be made toward the project’s $10 million fundraising target.
That represents a sale of 50% of the token’s 12 million supply, with 30% dedicated to rewarding $MK stakers and battle rewards, 10% dedicated to Decentralized Exchange (DEX) liquidity, and 10% for community rewards.
Per the project’s roadmap, “Meme Kombat represents a groundbreaking fusion of blockchain technology, AI-driven mechanics, and community-centered gaming.”
With its innovative battle dynamics, transparent tokenomics, well-defined roadmap, and an unyielding focus on community engagement, Meme Kombat is a promising and ambitious project in the rapidly evolving blockchain gaming industry.
Follow Meme Kombat on X (formerly Twitter) and Telegram to get timely updates as to the project’s progress.
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