Cobak Token (CBK) Price Prediction: CBK Set To Reach $1 Amid Growing Asian Markets, but is it Outshadowed By an Upcoming Presale?

ByEvans Karanja

Updated: 11 October 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Cobak (CBK) has bounced back in the $0.61 support zone, drawing more buyers to its profile.

As of 6:18 a.m. EST, the token is trading at $0.753710, reflecting a 21% increase in the last 24 hours. Additionally, the token’s daily trading volume has seen a significant boost, soaring by 2885% to reach $90 million in transactions.

CBK/USD Chart Analysis. Source: Tradingview.com — CBKUSD Chart Analysis. Source: Tradingview.com

The CBK price has successfully maintained a position above the $0.46 support zone, with buyers and sellers embroiled in the tug-of-war over price control, resulting in noticeable high and low swings, as evident from the long candle wicks on the chart.

Holding steadfast at a crucial support level of $0.43, buyers have established a strong position in the market, driving the price beyond previous resistance levels. Despite resistance at $0.96, the bulls are firmly determined to prevent further losses, bouncing back at the $0.61 support zone.

The 50-day and 200-day simple moving averages (SMAs) also support this bullish sentiment, trading below the price at $0.59 and $0.61, respectively. Moreover, the 200-day SMA provides immediate support to CBK, empowering the bulls to raise prices. The relative strength index (RSI) further indicates a rebound from the neutral position of 50, trending upwards to 62, signaling robust buying pressure that could propel the RSI above the overbought zone of 70.

Can CBK Reach $1?

While the $0.81 mark may present a hurdle for the bulls to overcome, CBK stands on the brink of a recovery towards the $1 mark. With backing from the moving average and RSI indicators, the bulls might gain the necessary momentum to breach the $0.96 resistance.

However, there’s a possibility of a pullback, which could allow sellers to drive the price down to the $0.61 and $0.52 support zones.

Meanwhile, the Meme Kombat (MK) token may outperform CBK, given its strong growth during the presale and promising play-to-earn (P2E) and stake-to-earn (S2E) features, which could yield significant returns.

Meme Kombat (MK), Alternative to CBK

Just days after its presale launch, Meme Kombat has impressively secured over $450k in funding, steadily advancing towards its $10 million goal. With the presale currently at $453,063, users can buy the $MK tokens at a discounted rate of $1.667.

We are looking forward to this week ahead. It will be a big one for $MK 👀#MemeKombat pic.twitter.com/1hxWJXYJYQ

— Meme Kombat (@Meme_Kombat) October 8, 2023

As excitement grows around the high upside potential of $MK, the project is expected to progress rapidly toward its funding target.

This target involves selling 50% of the token’s total supply, with 30% allocated for rewarding $MK stakers and battle participants, 10% designated for Decentralized Exchange (DEX) liquidity, and another 10% for community rewards.

Diverse Betting Options, High APY

Meme Kombat is building an AI-powered game that enables users to place bets on battles between characters representing well-known meme coins.

This platform offers a range of options, including direct betting, player vs. player (PvP), and player vs. game (PvG), ensuring flexibility for players to wager according to their preferences.

I know we're in kombat, but can I get a gm today? ☀️#MemeKombat pic.twitter.com/aUchjLImNI

— Meme Kombat (@Meme_Kombat) October 11, 2023

Unlike many other meme coins, $MK serves a genuine purpose by fueling Meme Kombat’s innovative platform, which bridges the worlds of blockchain-powered GameFi and GambleFi.

Presently, $MK stakers can enjoy an impressive annual percentage yield (APY) exceeding 112%, as stated on the project’s official website.

MK Roadmap

The Meme Kombat staking dashboard is still in the works but is set to launch soon. However, presale buyers will continue to get their stake rewards regardless.

Moreover, the Meme Kombat team intends to continuously enhance the platform by introducing new features, upgrading, and heeding the community’s feedback. In the final quarter of this year, Meme Kombat will launch Season 2, pledging to provide enhanced and additional experiences along with new characters.

Don't make the same mistake. Prepare for Season 1😤#MemeKombat $MK pic.twitter.com/iWdTAxddAN

— Meme Kombat (@Meme_Kombat) October 10, 2023

Look forward to new gameplay modes and additional partnerships in Meme Kombat. As it grows, plans are in place to list $MK on popular exchanges for easier access.

While explaining how Meme Kombat works to his over 22K subscribers, Jacob Crypto Bury, a prominent YouTube content creator specializing in crypto insights, predicts that $MK has the potential to achieve a 100X increase quickly.

To purchase MK tokens, visit their website, connect your digital wallet, and exchange your ETH or USDT for $MK on the Ethereum network, or use BNB or USDT on the BSC network if preferred.