Axie Infinity rising, investors bullish on Meme Kombat
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The Axie Infinity price (AXS) could be on the brink of a higher time frame breakout amid short-term bullish momentum. Meanwhile, traders are eyeing Meme Kombat, a gaming project, whose presale has raised over $8.3 million.
Traders bullish on AXS
Confluence in fundamental and technical factors could buoy AXS prices despite the immediate resistance level.
Crypto Busy, a crypto analyst, notes this development, saying there could be a strong move up.
At the time of writing this, AXS is trading at $6.89, up 0.26% in the past day but under pressure in the last week and month.
Meanwhile, AXS’ 24-hour trading volume is down 41% to $49 million as the token trades at a key support level.
Generally, a falling volume at a key support or resistance level indicates a reversal or bounce may be about to take place.
One of the reasons Axie Infinity looks strong is a recent strategic move to enhance blockchain gaming in the Philippines, leading the project to partner with GCash, the nation’s leading digital wallet app.
Axie Infinity announced the move in a recent blog post, highlighting it will make it easier for Filipino users to on-ramp to crypto amidst the increasingly restrictive crypto regulations worldwide.
80% of internet users in the Philippines rely on GCash.
Meanwhile, another gaming project drawing attention is Meme Kombat, which recently surpassed the $8.3 million mark in its presale.
Meme Kombat presale approaching $10 million
The Meme Kombat presale is gaining traction, raising over $8.3 million, close to its hard cap of $10 million.
Meme Kombat is a GambleFi play-to-earn (P2E) project.
It has an augmented battle arena, where users can gamble on AI-generated battles between meme coin characters using the MK token.
There are different game modes, such as single-player, multiplayer, and side betting.
It also leverages traditional odds mechanics for a fair and realistic gambling experience.
Safety is no concern for Meme Kombat’s users, with the project adhering to strict security measures.
The team is public, with its founder’s information available on its website.
It has also received a third-party smart contract audit, ensuring transparency and protection from a rug pull.
Accordingly, Zach Ventura on YouTube said Meme Kombat is “the next big thing”.
So far, Meme Kombat has been featured in leading crypto news site including crypto.news and Cointelegraph.
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