The crypto market is experiencing a downward turn, with popular coins like $PEPE feeling the pressure.
However, two new AI-based tokens, AiDoge and yPredict, are bucking the trend and continue to showcase robust growth.
With that in mind, this article will delve into $PEPE’s ongoing struggles before highlighting why new tokens AiDoge and yPredict might be a shining light to crypto investors.
Is The Meme Coin Craze Over? Pepe Coin & Its Peers Begin to Drop
Nobody could have predicted back in mid-April that Pepe Coin ($PEPE) would go on to produce returns of over 3,000% for early investors – yet this is precisely what happened.
$PEPE exploded onto the scene, driven by an increased interest in meme coins from retail traders.
Also benefiting $PEPE was the fact that these traders appeared to be more interested in low-cap offerings rather than the incumbents in the space, such as DOGE and SHIB.
At its peak, Pepe Coin reached a total market cap of over $1.6 billion, per CoinMarketCap.
However, the past few days have seen $PEPE’s price begin to tank. At the time of writing, Pepe Coin is trading at $0.0000016 – 62.5% lower than the all-time high posted on May 5th.
Moreover, $PEPE is no longer listed on CoinMarketCap’s list of the “Top Crypto Gainers” over the past seven days, indicating that meme coin lovers are now looking elsewhere.
It’s not just Pepe Coin that has experienced a downfall, with an array of viral meme coins seeing their values plummet.
CoinGecko notes that Wojak ($WOJ) is now 78% below its all-time high, while Turbo ($TURBO) is down over 67%.
Unfortunately for crypto investors, the bearish sentiment isn’t just confined to the meme coin niche. Bitcoin and Ethereum have also suffered substantial price decreases over the past week – even after US inflation data came in better than expected.
These events highlight that the crypto community appears unconvinced by the coins and tokens that sparked the market back to life in April.
Moreover, the fact that coins like PEPE and WOJ still have no real-world use cases makes it difficult to develop a bull thesis for their recovery – leading to the price drops on show today.
AiDoge Presents Ray of Hope to Meme Coin Lovers, Raises Over $5.5m
In the midst of the downward spiral seen in many meme coins, AiDoge ($AI) appears to be steering its own course.
This new AI-powered meme project is turning heads in the market and has raised a staggering $5.6 million through its presale phase in less than three weeks.
Unlike projects like Pepe Coin, AiDoge has built-in utility that looks likely to drive investor demand over the long term – making it less likely that the token’s price will plummet like $PEPE’s once listed on centralized exchanges (CEXs).
But what is AiDoge? Per the project’s whitepaper, AiDoge is an “AI-driven meme generation experience” that enables users to create socially-relevant memes using text-based prompts.
Users don’t need any photo-editing experience to use AiDoge’s “meme generator” and can instantly upload their creations to social media channels like Twitter and Reddit – streamlining the process to “go viral.”
Underpinning AiDoge’s ecosystem is $AI – the project’s native ERC-20 token. Meme lovers will need to buy $AI to obtain the credits required when using the meme generator.
However, those who already own $AI can stake their tokens to generate “daily credit rewards,” which can be used to create additional memes – incentivizing token holders to keep their $AI long-term.
The buzz is already building around the AiDoge project, leading to nearly 18,000 people joining the official Telegram channel.
Meme coin fans can still buy $AI through the project’s presale ahead of the CEX listings scheduled for Q3 2023.
The presale will have 20 stages, with Stage 9 now ongoing, meaning $AI tokens are priced at $0.0000292 – a 15% discount on the planned exchange listing price.
New Crypto Analytics Ecosystem yPredict Continues to Impress Investors
Alongside AiDoge, Polygon-based analytics platform yPredict has also attracted the attention of crypto-savvy investors.
yPredict is a much different prospect than AiDoge since it doesn’t employ the use of a “Doge-themed” style to entice meme coin lovers. Instead, yPredict is a fully-fledged analytics ecosystem that aims to give traders the edge in the crypto market.
As noted in the project’s whitepaper, the yPredict platform will feature price predictions on thousands of coins and tokens generated by in-house predictive models.
Not only that, but yPredict will also have an array of analytics tools, including automatic pattern recognition, trader sentiment analysis, advanced technical indicators, transaction metrics, and much more.
However, yPredict’s flagship feature is the “yPredict Marketplace.” In this marketplace, AI and machine learning (ML) experts can offer their financial models to traders and investors for a monthly fee, paid in $YPRED – yPredict’s native token.
This setup allows retail traders to access state-of-the-art trading algorithms usually reserved for high-net-worth investors.
Although the yPredict ecosystem is still in development, prospective investors can buy $YPRED tokens through the project’s presale – which has raised nearly $900,000 in funding.
This presale will have eight stages, with Stage 4 now ongoing, meaning $YPRED tokens are priced at $0.05 – significantly lower than the planned exchange listing price of $0.12.
Those interested in learning more about yPredict can join the rapidly-growing Telegram community.
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