It’s been a positive start to the week in the crypto market, with several altcoins posting sizable gains in the past 24 hours.
Leading the pack is sports fan token Chiliz (CHZ) with a 20% surge, while super-fast blockchain network Sei (SEI) is also continuing its upward trajectory.
Meanwhile, the hot new meme coin Meme Kombat (MK) has now raised $6.9 million in its presale as investors try to get in early on the next potential breakout star.
Chiliz Fan Tokens See Renewed Investor Interest as Token Surges 20%
Chiliz’s surge over the past 24 hours has taken it to the $0.103 level, its highest value since May 2023.
Much of the attention given to Chiliz is due to its unique use case as a currency for the sports industry.
The token powers the Socios.com fan engagement platform, allowing users to purchase branded “fan tokens” for their favorite sports teams and gain voting rights, VIP rewards, and more.
According to CEO Alexandre Dreyfus, the adoption of Chiliz is growing rapidly, with over 10 million CHZ transactions expected to have occurred on the Chiliz blockchain by the end of this week.
This demonstrates the strong fundamentals that are underlying the recent price pump.
Additionally, as major sports organizations like Manchester City and Arsenal continue partnering with Chiliz, the visibility of the fan tokens will likely lead to increased demand.
This phenomenon appears to be occurring already, with over $248 million worth of CHZ changing hands in the past day alone.
SEI Token Produces 33% Weekly Surge as Technicals Flash Bullish
Alongside CHZ, another crypto performing exceptionally well is SEI, which has surged 33% over the past week to $0.782.
As investor adoption begins to ramp up following the launch of spot BTC ETFs in the US, interest in Sei’s unique use cases seems to be driving market attention.
The Layer-1 blockchain is known for its lightning-fast transaction speeds of just 380 milliseconds and extreme scalability – able to handle 20,000 orders per second.
This technical prowess makes it attractive for decentralized finance (DeFi) applications needing high throughput.
Additionally, SEI’s technical setup has become increasingly bullish in recent weeks, leading to the token’s price surge.
SEI has formed a strong support level around $0.635, using it as a springboard to soar higher in the past seven days.
Price also appears to be forming a bull flag pattern on the daily chart – which often precedes another upward leg.
However, SEI holders will need to be wary of the resistance level at $0.880 since price rejected it aggressively on January 3.
In-Demand Meme Kombat Presale Taps Into Explosive GameFi & Meme Coin Hype
The latest meme coin causing a stir is Meme Kombat, which has managed to raise an impressive $6.9 million in its ongoing presale event.
Meme Kombat’s team aims to tap into the explosive hype surrounding the GameFi space and meme culture in general.
On the Meme Kombat platform, users can bet MK tokens on AI-driven battles between popular internet characters, each with unique strengths and weaknesses.
This battle arena will feature dynamic fight animations, hilarious attack moves, and an unpredictable user experience.
Winners of MK wagers will receive additional tokens as a reward – providing a clear reason to participate beyond just speculative interest.
By gamifying and incentivizing the platform in this way, Meme Kombat is attracting significant attention from meme coin enthusiasts leading up to its launch.
The project’s surging presale numbers confirm the buzz – and Meme Kombat’s Telegram community has also grown exponentially in recent weeks.
With meme coins still demonstrating tremendous staying power, evidenced by the recent price pumps of Bonk (BONK) and Coq Inu (COQ), Meme Kombat looks well-positioned to capitalize on this momentum.
If the current hype persists, some analysts even predict that MK’s value could 100x once the token is listed on Uniswap.
Although such a prediction is optimistic, it’s not unfounded given the explosive growth in meme coins over the past year – meaning MK is another crypto investors are keeping an eye on going forward.
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