Dogecoin’s (DOGE) price has soared recently, sparking speculation that the world’s largest meme coin could become a top three crypto and hit $1 by 2024.
With its strong community and enormous brand recognition, DOGE certainly has potential, with analysts speculating whether it can continue its current momentum into next year.
However, a new meme-inspired project called Meme Kombat (MK) is also gaining attention during its presale phase – prompting many to tout it as the next meme coin that could pump.
Dogecoin Price Surge Sparks Speculation of a Year-End Rally
DOGE’s price is currently hovering around $0.073, up 10% from last Thursday’s low.
Notably, DOGE was up by 16% at one point yesterday before pulling back sharply this morning.
The coin has posted three bullish weekly closes in a row, marking its best run of form since July.
However, Dogecoin is up less than 5% year-to-date – less than most major cryptocurrencies like Bitcoin, Ethereum, and Solana.
This relatively poor performance reflects a broader trend among established meme coins, with Shiba Inu (SHIB) also up marginally for the year.
Regardless, DOGE’s price pump over the past few days has increased confidence throughout the investor base that the coin can finish the year strong.
CoinMarketCap data shows that DOGE trading volume has risen 84% in the past day, making it the ninth most-traded crypto globally.
This points to increased interest and momentum behind Dogecoin as investors seek to gain exposure to the coin’s price before 2023 comes to a close.
Can Dogecoin Realistically Hit $1 & Become a Top 3 Crypto in 2024?
While Dogecoin has seen impressive gains recently, it remains an open question whether the meme coin can hit the coveted $1 mark and become a top three cryptocurrency by market cap.
For DOGE to reach $1, its price would need to surge over 1,280% from current levels – which would give the token a market cap of $141.7 billion.
Though Dogecoin has defied skeptics before, this would likely require a perfect storm of events, including increased mainstream adoption, additional use cases, high-profile partnerships, and another massive crypto bull run.
While unlikely, if the market experiences exponential growth in 2024, potentially due to the release of a spot BTC ETF, then DOGE could ride the wave of positive sentiment to a new all-time high.
However, with the DOGE Fear & Greed Index still at “Neutral,” investors are unsure whether significant price appreciation is possible in the near term – meaning the next few weeks could be pivotal for DOGE.
Which Newer Meme Coins Could Be Set to Pump?
With Dogecoin’s future still uncertain, many newer meme-inspired cryptos are popping up, aiming to capture investor attention.
One such project is the newly launched Meme Kombat, which is gaining significant traction during its presale phase.
Crypto Arena Game Meme Kombat Gears Up for Launch & Raises $1.2M During Presale
Meme Kombat is an innovative platform where players can watch and bet on fights between their favourite meme coin mascots, like Doge, Shiba, and Pepe the Frog.
These meme warriors have different skills and stats that determine their performance in each AI-generated battle, leading to unpredictable and engaging outcomes.
Per Meme Kombat’s whitepaper, users can bet on these battles using the native MK token, with winners earning more tokens and other prizes.
The Meme Kombat platform also features staking, allowing users to earn passive income set at 112% APY.
By staking their MK tokens through the Meme Kombat website, players can allocate tokens for betting while also accumulating daily rewards – with the added benefit of reducing price volatility once MK is listed on the open market.
Meme Kombat is currently in the middle of a successful presale phase, with 50% of the total 1 billion supply reserved for early buyers.
Prospective investors can buy MK for $0.183 per token, although this price will increase in two days due to the presale’s tiered structure.
Over $1.2 million has been raised thanks to this approach, with thousands of people joining the official Telegram community to keep tabs on the project’s progress.
As a unique combination of memes and gaming with earning opportunities, Meme Kombat looks primed for a prosperous end to 2023 – with early backers suggesting that MK’s price could pump throughout 2024 and beyond.
MK tokens are on sale at memekombat.io and can be purchased using ETH or USDT.