{"id":69942,"date":"2023-10-07T14:32:58","date_gmt":"2023-10-07T18:32:58","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/is-gala-going-to-zero-gala-price-suddenly-drops-8-with-500-million-volume-as-new-meme-coin-raises-300000\/"},"modified":"2023-10-07T14:33:02","modified_gmt":"2023-10-07T18:33:02","slug":"is-gala-going-to-zero-gala-price-suddenly-drops-8-with-500-million-volume-as-new-meme-coin-raises-300000","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=69942","title":{"rendered":"Is GALA Going to Zero? GALA Price Suddenly Drops 8% With $500 Million Volume as New Meme Coin Raises $300,000"},"content":{"rendered":"
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As leading Gamefi project Gala Games (GALA) continues to tumble in the fallout of a major legal dispute between co-founders Eric Schiermeyer and Wright Thurston – with the future of GALA at risk, bag-holders are asking ‘is GALA going to zero’?<\/p>\n

This comes amid allegations of theft amounting to $130 million in Gala tokens and corporate mismanagement by Thurston, alongside his investment firm True North United Investments<\/p>\n

While Thurston’s counter-claim alleges Schiermeyer lent Gala’s funds to himself for personal use, and even purportedly created Gala-related entities in Switzerland and Dubai, positioning himself as the controlling shareholder to pursue his own business interests.<\/p>\n

Yet, despite the dramatic legal dispute, there are signs of life in the GALA ecosystem as top game developer, Peter Molyneux, announced a launch date for a new GameFi business simulator in conjunction with Gala Games.<\/p>\n

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The blockchain-based \u2018Legacy<\/a>\u2019 title will launch on October 26, and feature Land NFTS and in-game earning mechanisms.<\/p>\n

GALA Price Analysis: Can Legacy Launch Save Gala Games from Going to Zero?<\/strong><\/h2>\n

As price action enters localised retracement, Gala Games is currently trading at a market price of $0.014 (representing a 24-hour change of +0.69%).<\/p>\n

This comes following a brief recovery by GALA following a break back above the 20DMA on September 29, in a +23% move that saw GALA recover almost a month of lost value.<\/p>\n

Price action is now fighting to consolidate above the 20DMA at the $0.0145 level.<\/p>\n

Meanwhile, the 200DMA remains descendant but high up at $0.0267 – a level untouched for 154 days since May 5.<\/p>\n

Despite the impressive upside recovery, the RSI has remained at low bullish divergence – indicating the potential for a strong rally from the potential foothold of support developing above the 20DMA.<\/p>\n

While the MACD has also flipped to a bullish signal at 0.00031 – signalling the appetite and buy pressure at this level is strong.<\/p>\n

Overall then, Gala Games faces an interesting duality here – with technical structure appearing incredibly poised for a break-out rally, but trading against a background of significant risk stemming from the founder’s legal dispute.<\/p>\n

To the upside, a bounce here would target higher support at $0.02 (a potential +37.65%).<\/p>\n

While downside risk remains significant, with a potential tumble back down to lower trendline support at $0.012 (a possible -17.4%).<\/p>\n

This leaves Gala Games with a risk: reward of 2.16 – a strong entry with upside potential, but risking serious downside stemming from the founders legal dispute.<\/p>\n

But while GameFi enthusiasts are balancing the potentially catastrophic legal battle against a moderate +37.65% gain, smart money are betting big on an emerging meme coin project aiming to capitalize on inter-community tribalism.<\/p>\n

Meet Meme Kombat: Community Battles Meme Coin Races to +$350k Raised<\/strong><\/h2>\n

Meet Meme Kombat, a trailblazing initiative that has seamlessly blended the memetic love of nostalgic gaming, and GambleFi, into a decentralized Web3 platform.<\/p>\n

So, what makes Meme Kombat tick, and why should potential investors keep a keen eye on this presale?<\/p>\n

The essence of Meme Kombat lies in its captivating arena where characters aiming to tap into deeply tribal crypto communities lock horns.<\/p>\n

Players have the liberty to place their bets on these animated battles, predicting the outcomes and possibly reaping attractive rewards.<\/p>\n

With a sturdy promise of Season 1 showcasing 11 distinct meme characters, there’s no shortage of action, and Season 2 is already on the horizon for December 2023.<\/p>\n

The decentralized nature of the project, combined with the thrill of AI-driven battles, ensures that the outcomes are both transparent and unpredictable – every battle is a new experience, ensuring players stay engaged.<\/p>\n

Meme Kombat Aims to Revolutionize GameFi with Gamified Staking Rewards<\/strong><\/h2>\n

The project isn’t just about excitement; it’s built on a foundation of trust – Meme Kombat’s commitment to transparency is evident through initiatives like the impending security audit of their smart contract.<\/p>\n

The findings of this audit will soon be public, a move that many projects shy away from.<\/p>\n

The founder and project lead, Matt Whiteman, isn’t an unknown entity in the crypto space.<\/p>\n

His experience spanning two decades in process design, combined with his position as the COO of North Technologies, adds credibility to Meme Kombat.<\/p>\n

When so many projects hide behind the veil of anonymity, Whiteman’s open profile and the project’s physical address in Amsterdam offer an extra layer of trustworthiness.<\/p>\n

The tokenomics of Meme Kombat is also an appealing factor for potential investors – Stake the Meme Kombat ($MK) token, priced attractively at $1.667, and dive into a rewarding ecosystem.<\/p>\n

With a generous APY of 112%, stakers not only benefit from passive income but can also use their staked tokens to place bets in the arena – this dual functionality \u2013 earning while gaming \u2013 sets Meme Kombat apart.<\/p>\n

Intriguingly, engagement on the platform directly influences the income one can earn, so, the more you participate, the more you stand to gain.<\/p>\n

With the GambleFi industry booming following coins like Rollbit, Meme Kombat seems poised to tap into this lucrative market with its innovative approach.<\/p>\n

By merging memes, gaming, and blockchain, the platform is presenting something fresh to the crypto community.<\/p>\n

For those looking to diversify their portfolio with a unique offering, Meme Kombat seems like an opportunity too good to miss – so, don’t be left behind (stay tuned with the MK Telegram).<\/p>\n

Embrace the future of meme-based gaming and betting with Meme Kombat.<\/p>\n

Buy Meme Kombat Here<\/strong><\/p>\n

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.<\/sup><\/i><\/p>\n<\/p><\/div>\n