It’s been a hectic week in the meme coin market, with most tokens posting sizable gains.
Pepe (PEPE) has been soaring after its surprise burn announcement, while Meme Kombat (MK) and Sponge (SPONGE) have also seen an uptick in momentum.
This article explores the latest meme coin action, covering all of the must-know events in the market this week.
1. PEPE Experiences Dramatic Price Rise
PEPE has been one of the most talked-about meme coins in the past seven days, with the coin’s price up 91% since last week.
At one point on Thursday, PEPE was up an impressive 115% but has since pulled back slightly.
The coin is now hovering around the $0.0000012 level, representing its highest point since August 17.
This momentum was triggered when PEPE rebounded from a strong support region around $0.00000062 – a level tested three times in the past month.
The momentum was boosted after PEPE’s creators announced a sizable token burn, which helped improve investor confidence after fears of price manipulation a month prior.
Although some still question PEPE’s utility and long-term prospects, the ongoing momentum is a testament to the coin’s current appeal and overall market sentiment.
2. Meme Kombat Continues Turning Heads in its Presale Phase
Meme Kombat (MK) was also widely discussed this week after the trending meme coin presale hit the $760,000 milestone.
The presale has attracted global investor interest, as MK tokens are available at the low price of $0.1667.
After the presale concludes, Meme Kombat’s creators plan to list MK on decentralized exchanges like Uniswap, reserving 10% of the token supply for liquidity.
Anticipation is already building within the Meme Kombat Telegram channel for this event, with many early back
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Author: BeInCrypto Team
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