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The meme coin craze is back, with new market entrant $MEME raising millions in record time.
Memeland’s token presale reached $10 million in just 90 minutes, reigniting the hype surrounding meme coins.
Meanwhile, the gaming platform Meme Kombat has secured almost $800,000 in pre-launch funding, attracting investors from around the world.
Memeland’s Hot New $MEME Token Sells Out $10m Presale in Just 90 Minutes
The hype surrounding meme coins was again proven this week as Memeland’s new $MEME token presale raised an impressive $10 million in just 1.5 hours.
The meme coin market that first exploded in 2021 is making a comeback, with investors hungry to get involved in a project already being touted as the next Dogecoin or Shiba Inu.
Memeland, founded by the team behind the hugely popular meme platform 9GAG, launched the token presale on October 25.
The response was overwhelmingly positive, with the presale’s hard cap of $10 million reached in under an hour and a half.
Additionally, $MEME’s presale was 65% oversubscribed, garnering reservations for 12.5 billion tokens despite initially offering only 7.6 billion.
Over 845,000 people now follow the official $MEME Twitter account, which hasn’t tweeted since mid-July.
Notably, the token contract employs Delegate for delegation, and experts say it minimizes storage writes and is “quite solid overall.”
With $MEME off to a flying start, the crypto community is wondering whether this could signal a return to the meme coin frenzy of past bull markets.Â
$MEME Emerges as Latest “No Utility” Token Aiming to Be the Next Dogecoin
In the words of the token’s creators, $MEME is “literally a meme coin. No utility. No roadmap. No promises.”
The total supply is 69 billion tokens, meaning a fully diluted valuation of $69 million, with each token priced at $0.001.
On the first day of its official launch, 1.897 billion $MEME tokens will be unlocked, with the remaining tokens to be gradually released over the next 18 months.
As seen on the project’s official website, $MEME is designed to be a pure meme coin, riding on virality and hype rather than having any real-world utility.
The tokenomics mirror the meme coins of 2021, like Dogecoin and Shiba Inu, boasting a massive supply and no clear structure.
However, with its backing from Memeland, $MEME has already shown that it could be the next breakout star in the market.
$MEME’s token contract shows over 26,500 transactions in the past two days, highlighting the level of retail investor interest.
Whether $MEME can live up to its early hype is anyone’s guess, but with such a strong start, it’s clear the token will remain in the public eye in the coming days.
Meme Kombat Rides Meme Coin Hype With Viral Presale Success & Pending Exchange Launch
With the $MEME fire sale helping prompt a meme coin market resurgence, investors are also piling into another ICO project called Meme Kombat (MK).
Meme Kombat aims to blend hilarious memes and battle arena mechanics, leveraging the power of the Ethereum blockchain to create an entirely new gameplay experience.
The MK token serves as the ecosystem’s core currency and enables features such as wagering on AI-powered battles, staking for passive yields, and community rewards.
Meme Kombat’s creators recently launched a presale phase for MK, which has already raised nearly $800,000 as hype builds ahead of the token’s market debut.
Once MK has officially launched, Meme Kombat’s team plans to kick off Season 1 of the battle arena, featuring leaderboards, special prizes, and several game modes.
Season 2 will follow a few months later, building on the previous season with enhanced features and new ways to earn MK.
According to Meme Kombat’s whitepaper, the team intends to continuously upgrade the platform, setting it apart from the majority of low-utility meme coins.
Overseeing the entire project is lead developer Matt Whiteman, who has extensive experience in the Web3 space and served as Chief Operations Officer of Phat Loot DeFi.
While meme coins are inherently volatile, the early presale success of Meme Kombat hints at a potentially fruitful end to 2023.
Visit Meme Kombat Presale