Avalanche is leading the way among the top 20 cryptos this week, up over 51%. The pump has pushed its price to $33.68, making it the tenth-largest cryptocurrency by market cap.
Meanwhile, analysts are backing Meme Kombat to explode next after its presale exceeds $2.7 million in ten weeks.
Despite a strong performance in recent months, Avalanche has continued to outpace the market this week, climbing from $22 last Sunday to $33.5 today.
This week’s pump has attracted significant trading volume, a key sign that the uptrend will continue.
It has also notably catapulted AVAX to above its first lower high that occurred in the accumulation phase of the bear market in August 2022.
The current weekly candle will close today, illustrating tremendous bullish momentum if it holds above the resistance.
There are several reasons that Avalanche is performing so strongly. Ultimately, these factors all relate to the considerable ecosystem advancements on the chain.
The platform is relentlessly targeting two of crypto’s most promising narratives: real-world assets (RWAs) and gaming.
Crypto Analyst Unit Network recently explained the state of RWAs on Avalanche. The analysis cited a projection from Bernstein that $3 trillion of RWAs will be tokenized in the next five years, and Avalanche is heading the pack to serve the market.
The tweet then explained Avalanche’s RWA endeavors, like launching Avalanche Vista, which funded RWA research and development with $50 million.
Meanwhile, Unit Network noted big banks like JP Morgan, Citi, and Bank of America are leveraging Avalanche and its subnets to develop RWA solutions.
However, the brewing blockchain gaming narrative is equally as impactful on Avalanche’s price. The global gaming market is expected to reach a $1.4 trillion valuation by 2030, and Avalanche is the largest blockchain focused on the sector.
Avalanche’s subnet architecture enables games to create bespoke, highly scalable, and composable blockchains. This has drawn many top gaming studios to build on the blockchain.
Analyst Alex Wacy highlighted this in a recent tweet, picking 34 of the top games building on the platform and stating that Avalanche revolving around trending narratives is a “game changer.”
Ultimately, Avalanche’s recent pump can be attributed to its clear and concise message of adoption by leading enterprises and institutions in some of crypto’s most promising categories.
That said, with a market cap upward of $12 billion and already being up 150% this month, Avalanche’s near-term upside may be limited.
Those looking for higher-potential projects should consider smaller market-cap projects or those yet to pump.
One that fits this criterion while also tapping into two trending narratives is Meme Kombat, a GambleFi meme coin currently undergoing a presale.
Meme Kombat is a new presale that lets users gamble on AI-generated battles between meme coin characters. Thanks to its advanced AI augmentation, users can watch the fights up close in Meme Kombat’s immersive battle arena.
The project will feature different seasons comprising new characters, battle modes, and rewards. Its incorporation of meme coin characters provides a viral allure that could rally significant hype.
Meanwhile, it offers a staking mechanism, currently providing a 307% APY. The team has allocated 30% of the token’s total supply to staking and battle rewards and another 10% to community rewards. This significant focus on user participation will bolster its community’s strength, enabling it to grow faster.
However, Meme Kombat also fuses the gaming and gambling trends. This provides a never-seen-before use case, capturing three massive audiences in one project.
What’s more, the high-risk nature of meme coins, gambling, and the thrill of crypto gaming could make this perfectly suited to all three markets.
The project boasts a doxxed team and smart contract audit, attesting to its transparency and helping protect investors from “rug pull” scams, which are somewhat common in newer projects.
Market participants can buy the Meme Kombat presale for $0.235, but they must hurry as its price will rise in four days.
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