Cryptocurrency gaming tokens like Gala (GALA) and Axie Infinity (AXS) led the market this weekend as investors bet on a resurgence of blockchain-based games.
Although major coins like Bitcoin (BTC) traded sideways, many gaming tokens saw double-digit percentage increases.
Meanwhile, the newly launched presale token Meme Kombat (MK) aims to take advantage of the hype around crypto gaming with its own battle arena featuring well-known meme mascots.
GALA Surges Over 20% as Market Anticipates Future Developments
It’s been a great few days for GALA holders, with the token’s price rising 23% over the weekend.
At its peak, GALA rose an impressive 30% before pulling back slightly on Monday morning.
The token now trades around the $0.020 level, representing its highest point since August 30.
According to CoinMarketCap data, spot trading volume is also up by 210%, hitting $264 million daily.
Interestingly, there’s no clear catalyst for GALA’s sharp rise; however, positive market sentiment is fueling speculation about anticipated ecosystem developments.
GALA is currently the world’s sixth-largest gaming token by market cap, behind massive metaverse projects like The Sandbox (SAND) and Decentraland (MANA).
It remains to be seen if GALA can maintain its momentum amid a competitive landscape, but for now, investors are enjoying the bullish wave.
AXS Price Explodes as Key Resistance Zone Looms Large
Axie Infinity’s native token AXS has also surged over the weekend, rising over 24% from Friday’s low.
AXS is now trading around $5.80, marking the token’s highest value since mid-August.
Like GALA, there hasn’t been a clear catalyst for AXS’s sharp rise, which has taken many investors by surprise.
Regardless, the token’s market cap has soared to $822 million, making it the world’s 51st-largest cryptocurrency.
From a technical perspective, AXS has cleared the strong resistance zone at $5.00 that has been in play for over two months.
However, the price is now approaching another resistance level around $6.00 – and has already tapped it on Monday morning before retracing slightly.
This indicates that there’s likely a large volume of sell orders in the area, suggesting the token may face challenges breaking through this level in the near term.
As such, all eyes will be on AXS in the coming days to see if it can sustain its current momentum.
New GameFi Token Meme Kombat Raises Over $870k as Investor Hype Builds
While established projects like Gala and Axie Infinity saw gains this weekend, an up-and-coming crypto gaming platform is also attracting attention from investors and gamers.
Meme Kombat (MK) is a new GameFi ecosystem that combines meme culture, crypto betting, and PvP battle mechanics.
Users can stake their MK tokens to bet on fights between popular meme characters like Wojak, Pepe the Frog, and DOGE.
Artificial intelligence (AI) technology powers these unpredictable battles, generating unique matchups and experiences.
Through this setup, Meme Kombat aims to capitalize on the growing hype around crypto gaming while providing a pathway for players to win big.
As outlined in Meme Kombat’s whitepaper, the total supply of MK is 10 million tokens, with 50% allocated to presale buyers.
The current presale price is $0.1667 per token, although since the developers have opted for a tier-based structure, this price point will only be available for another three days.
Meme Kombat’s presale has already raised over $870,000, signaling strong demand from retail investors.
Looking ahead, the development team, led by Matt Whiteman, has laid out an ambitious roadmap for Meme Kombat, which includes new game modes, new characters, and new ways for players to earn MK rewards.
With the crypto gaming sector continuing to heat up, Meme Kombat is positioning itself as a potential breakout star in the space.
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