2024-6-5 15:46 |
The meme stock craze is making a comeback ever since Keith Gill who inspired the short squeeze of 2021 started posting on social media again.
Meme coins may benefit from Roaring Kitty postsAlso known as Roaring Kitty, the investor most recently posted a screenshot supposedly of his own holdings that suggested he has a position worth nearly $116 million in GameStop.
His post made $GME open some 100% up on Monday (read more) – though it has now lost at least half of that gain. Still, shares of the video gaming merchandise retailer are up well over 150% versus their year-to-date low at writing.
So, evidently, the meme phenomenon is back. And it may not be the stocks only that benefit from it. Meme coins like that of KangaMoon may increase in price on the back of it as well.
Let’s go through a few of the details of $KANG.
KangaMoon is more useful than its meme peersThe interesting thing about the native coin of KangaMoon is that it’s more useful than majority of the other meme assets.
It doesn’t make you wait for the pump for you to be excited about it. In fact, you can use $KANG on the platform to make a profit via other means as well.
KangaMoon offers an online gambling platform where you can use the aforementioned crypto coin to place a bet – be it on a competition between others or one that you are participating in yourself.
Note that $KANG is currently priced at $0.025 only in the ongoing presale. So, you’re set to build a sizable position in this meme token even if all you have to spare at the moment is $10 only. Click here to know more about KangaMoon.
Buying $KANG is fairly straightforwardKangaMoon has already raised $7.6 million via the presale and that number will likely only inflate as Roaring Kitty keeps the investment community interested in the meme assets.
Given that the ERC-20 token is attracting solid demand in the presale, it may be wise to secure a position in it today so that you can benefit as its price gains sharply following the expected listing on a crypto exchange after the presale.
Investing in $KANG is not a hassle at all. You can take a stake in it in four easy steps that are well elaborated on its website.
KangaMoon is scheduled to launch additional play-to-earn giveaways in the Phase 3 of its launch as well. If you have any further questions, you can visit the $KANG website now and go through the FAQs section at the bottom.
Should you be bullish on KangaMoon ($KANG)Remember that KangaMoon may be a meme coin that could benefit from the ongoing meme stock craze, but it does have the broader crypto winds on its tail as well.
For instance, the U.S. SEC has approved the Bitcoin exchange-traded funds and has cleared path more recently for similar Ethereum funds as well. Plus, total supply of the world’s largest cryptocurrency was cut in half last month as well.
So, both supply and demand sides of the equation are signalling continued strength in BTC which may reflect in other cryptocurrencies (including $KANG) as it typically does.
Plus, once the Fed begins cutting rates, risk-on assets like KangaMoon coin may turn even more attractive for investors. Interested in finding out more about $KANG? Visit the website on this link.
The post Should you buy KangaMoon as meme stock craze returns? appeared first on Invezz
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