The crypto market has seen renewed momentum this past week, with Avalanche’s AVAX token surging over 13%.

This has come as several other altcoins also posted gains, marking a clear shift in investor sentiment.

Traders are now looking for the next big mover in the market – with all eyes on Meme Kombat (MK) as a gaming token that could be set for a fruitful end to 2023.

AVAX Bucks Bearish Trend with Strong Price Momentum

While major coins like Bitcoin and Ethereum have slumped, AVAX and other altcoins have been rallying.

Since last Friday, AVAX has posted five bullish daily closes – and looks to be well on its way to making it a sixth today.

During that time, the token’s value has soared above the 20-day and 50-day Exponential Moving Averages (EMAs) while breaking resistance at $10.00.

According to CoinMarketCap, Avalanche’s market cap has risen to over $3.7 billion, making it the 20th largest cryptocurrency in the world.

However, despite this optimism, AVAX is still trading 92% below November 2021’s all-time high.

Much of the positivity seems tied to increasing hype around Stars Arena, a decentralized social media platform built on Avalanche.

Despite facing a security exploit earlier this week, Stars Arena’s total value locked (TVL) has surged over 350% in just three days as the platform begins to draw comparisons with X (formerly Twitter).

This influx of activity has reignited trader optimism for AVAX – with some traders speculating that it could be the next blockchain token to experience a major bull run.

Meme Kombat Poised to Capitalize on Play-to-Earn Hype

While Avalanche’s price action has been notable, trader attention may soon shift to emerging gaming tokens like Meme Kombat (MK).

This new token aims to capitalize on the hype around Play-to-Earn (P2E) blockchain games, offering users an innovative platform to b