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Like numerous other cryptocurrencies, Shiba Inu (SHIB) has experienced a recent decline, resulting in a 15% drop in its price over the past four weeks, as indicated by data from CoinMarketCap. However, the asset's burning program could be a very important factor that may impact the price of SHIB in the following period. As highlighted by CryptoPotato, the burn rate has surged multiple times in recent weeks, destroying over 9 billion tokens since the start of 2024.
This burning mechanism aims to decrease the substantial circulating supply of SHIB, making it scarcer and potentially more valuable over time. So, what would a $1000 investment in SHIB bring by the end of the year? We will shed light on that, but we will also take a closer look at Meme Kombat – the meme coin that has raised more than $7,6 million in its presale!
Meme coins have a very important place in the crypto market. Not only do they manage to lighten up the atmosphere, but they also bring enormous gains to the investors who recognize their potential in their early stages. Meme Kombat has defied the odds during the bear market, and with more than $7 million raised, it is extremely close to a very ambitious goal – to raise $10 million during its presale.
Even though it has been recently introduced to the market, the presale of Meme Kombat successfully drew in meme enthusiasts who made significant contributions. The primary catalyst behind this remarkable success is the ecosystem's utility.
The investors will have a chance to explore play2earn features and access a range of betting options, from player-vs-player to sophisticated player-vs-computer modes that utilize traditional betting mechanics, ensuring realistic outcomes. Participants can make predictions about the results of AI-generated battles, enhancing the overall gaming experience.
The eagerly awaited Season 1 of Meme Kombat is set to launch, showcasing popular meme characters for users to bet on in thrilling battles. Following closely, Season 2 will be introduced to the public, promising new characters and gameplay dynamics. The roadmap also outlines upcoming developments and additional game modes to maintain a fresh and engaging gaming experience, so you better join in time!
With a total supply of 120 million tokens, the Meme Kombat Token ($MK) follows a meticulously crafted structure. The token supply will be distributed across crucial segments, promoting stability, growth, and engagement within the Meme Kombat ecosystem. Half of the total supply is available to the investors during the presale.
Since staking is a very important feature of the Meme Kombat ecosystem, 30% of the tokens will be directed towards it. The current APY is 122% and 32 million tokens are already staked, showing enormous interest from the investors in this project. Meanwhile, the remaining 20% will be equally split between DEX allocation and rewards for the community.
Once the presale hits $8 million, the price of the $MK tokens will increase, so use the remaining time wisely. Having in mind the price rise of Shiba Inu increased by the impressive 679405.59% since it was launched, according to the data available on CoinMarketCap, it is safe to assume that Meme Kombat could reach the same success or even surpass it very soon!
Shiba Inu, introduced as a meme coin in 2020, gained significant attention during the bullish market of 2021. It reached a market cap peak of $32.84 billion that year but subsequently experienced a considerable loss in value. Currently holding the 18th position in CoinMarketCap's rankings, Shiba Inu has a market cap of $5.34 billion.
Despite the fluctuations, the Shiba Inu team has demonstrated resilience, implementing numerous improvements that transformed it from an ordinary meme coin into a flourishing DeFi ecosystem. Alongside SHIB, other tokens like BONE and LEASH are integral to the Shiba Inu ecosystem. These tokens bring additional value through governance, NFTs, and metaverse land, essentially bolstering the sustainability of SHIB.
The Shiba Inu ecosystem already hosts multiple decentralized applications (dApps), including ShibaSwap, a decentralized exchange (DEX), the Shiboshis NFT collection, Shib the Metaverse, the Shiba Eternity Play-to-Earn (P2E) game, and the Ethereum layer-2 Shibarium.
Investors usually want concrete answers when it comes to investments, and there are estimates about the directions in which the gains could go. We will need to go back a little bit and imagine that an investor invested $1000 in SHIB on January 1, 2023. In that case, the investor would have received 84.5 million SHIB tokens for that money. By November 1st, the total gain would be approximately $650.
If SHIB experiences a modest monthly growth rate of 10% from its current price by November 1st this year, its value of SHIB could potentially be valued at around $0.000025. If this kind of assumption becomes a reality, the total value of the same amount of SHIB tokens would be valued at around $2,100, which means the investor would not only gain back the invested amount but earn more than $1.1k.
Keep in mind that there are no guarantees when it comes to the crypto market or precise predictions, so caution is always advised, especially because this token has been on the market for a while. On the other hand, Meme Kombat seems poised to explode in the following months, so focusing on it now might yield better results!
Shiba Inu is not in a good position at the moment, and its price decline should not be overlooked. Even though SHIB had its bright moments in the past, now may be the time to focus on the more prosperous meme coins such as Meme Kombat. Its presale is extremely successful, and according to the enormous interest that the crypto enthusiasts are showing, it is clear that it is poised for massive growth this year, so make sure you secure your portion before that happens!
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
