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October has traditionally been one of the best months for the crypto market. So much so that it has garnered the nickname 'Uptober' from people within the industry. When we started Q4 it looked like everything was going against the crypto market, inflation remained at record highs and the Israel-Palestine conflict threatened to derail any potential growth.
However, the market has shown resilience to global conditions on more than one occasion this year, thanks mostly to Bitcoin's (BTC) performance. The trickle-down effect is really being shown as meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) have enjoyed significant growth in the last week. After enduring a rough period the top two meme coins really needed these good market conditions.
That being said, the previous bad performance of DOGE and SHIb should not be forgotten. Truth be told there are just better meme coin options out here now. Meme Kombat ($MK) and Wall Street Memes (WSM) are just better all-around projects, and therefore better investment options.
Let's take a look at what makes them better.
Pepe Coin (PEPE) broke all kinds of records this year when it pumped thousands of percentage points and made investors millionaires overnight. Since then many meme coins have tried to replicate its success but until now have not been able to. Meme Kombat ($MK) has real potential to see similar gains and some crypto YouTubers believe it's the next PEPE.
We also agree that the game/meme coin has massive potential and has already raised over $750k in presale. The first factor we really like is the game took inspiration from one of the most popular combat gaming franchises of all time; Mortal Kombat. This gives a blockchain game a much broader potential gaming base as traditional gamers are likely to check it out.
Meme Kombat is also a battle-style game but the characters are all the biggest memes from the last 10 years. Pepe, Wojak, Doge, and many others are all available as characters players can battle with. AI is utilized to give players the very best gaming experience but also to help make sure battle outcomes are fair and unbiased. This is important due to the wagering part of the game.
Yes, you read right, Meme Kombat has a wagering scene good enough to feel like you are using a sportsbook. You can wager in all kinds of ways too. Bet 1 v 1 against the computer, against a friend or fellow player, or even side bet on lots of different markets. Whether it's the first move, specific outcomes, or unique battle events, side action betting invites users to dig deeper into the game's mechanics.
Lastly, like all new projects destined for success, Meme Kombat has made staking an important foundational block of their project. Staking has become much more popular in 2023 and for good reason too. It adds an extra layer of security for the project to defend against a pump and dump scenario and for the investor they can earn a decent passive income. The APY for Meme Kombat will begin at a generous 112%.
Wall Street Memes (WSM) was one of the most hyped-up coins we can remember during its presale. It broke all sorts of records for a meme coin on its way to raising well in excess of $25 million. After this huge things were expected, especially since millions of WSM tokens had already been staked. Unfortunately for Wall Street Memes listings began in September during a bearish period.
This would be a death sentence for most projects but the meme coin actually pumped before succumbing to the pressure and losing a lot of its worth. However now that the conditions are turning bullish we think Wall Street Memes is ready to bounce back. Just looking at the graph below we can see it has already gone up just under 20% in the last 7 days.
It is a very clear buy-low option as this may be as low as the price ever is for WSM. The Wall Street Memes Casino launched 10 days ago and has some great offers for new customers that are drawing in lots of players. The success of this casino will likely have a knock-on effect on the price of WSM.
Let's not forget the reason the Wall Street Memes presale was so hyped, because of its huge online brand. Wall Street Memes was born out of the Reddit movement that took on Wall Street in 2011 and sank a Wall Street hedge fund by buying brick-and-mortar stock like GameStop. Wall Street Memes is the anti-bank social media brand born out of this so a crypto token was logically the next step.
The brand has well over 1 million followers across its social media accounts and its Twitter account has gained nearly 100k followers since the launch of WSM showing its popularity is still going. This huge following has access to content promoting both WSM and the casino so expect it to have an effect. Virality is crucial for meme coins and Wall Street Meme is growing. We expect a massive movement and pump in November.
It has been a great week for the top two meme coins in the crypto market. At the time of writing, Shiba Inu (SHIB) is up just over 15% while Dogecoin (DOGE) is up just over 20%. While this is very positive and badly needed, we still have doubts about both coin's long-term future.
2023 has been hailed as the year of the meme coin but since the start of the year SHIb is actually slightly down and DOGE, even after its 20% growth this week, is only slightly up from the start of the year. It is our opinion that this period of growth is more of a rising tide lifts all boats' situation, rather than something more sustainable.
There are just too many good meme coin projects that have popped up in 2023. DOGE and SHIB can no longer dominate the market share of attention like they used to. They have also been left behind innovation-wise by projects like Meme Kombat and Wall Street Memes.
So to finish up, in a golden age for meme coins we believe it's an out with the old and in with the new scenario. While Dogecoin and Shiba Inu have had a nice week we prefer Meme Kombat and Wall Street Memes as investment options. They have much more to their ecosystems and have lower market caps so there is more room for growth.
