While several charts presently show massive dips for the meme coin market, the Pepe (PEPE) token dump has begun to spark investor caution.
Memecoins and their dropping support
Memecoins have had crypto enthusiasts excited since their emergence. From Dogecoin (DOGE) to Shiba Inu (SHIB) and Pepe (PEPE), memecoins tend to have interesting stories that paint amusement into the cryptocurrency landscape and also inspire both investors and developers into the next new memecoin.
While DOGE took almost four years for its market cap to pass the $1 billion mark, PEPE reached the benchmark within three weeks of its launch. This apparent success has made PEPE one of the most traded memecoins in particular and cryptocurrencies in general. Recent happenings, however, have turned the smiles of PEPE investors upside down as the trading volume and price of the coin dip.
While PEPE’s website makes it clear that the cryptocurrency is intended for entertainment purposes, as the token is without intrinsic value, investors have purchased the token and enjoyed returns, but this is changing.
In recent weeks, PEPE has followed a bearish pattern that signals a struggle between buyers and sellers seeking control. According to CoinGecko, PEPE fell off its coveted Crypto Top 100 list following its substantial decline of up to 14.4% over the past week. While on Coin Market Cap PEPE holds 99th spot.
Reports of the hack of PEPE’s Telegram account and the following promotion of scams further compromised the token’s reputation. This, plus the theft of over 16 trillion PEPE tokens, dropped the trading volume by almost 19%, and this fall is expected to go steeper.
As is often the case, cryptocurrency investors observe trends and decide when to move on from a project and when to search for something new. So far, three emerging utility tokens—ROE, QUBE, and $DOMI—seem to be getting onto different investor lists as cryptocurrencies to watch.
$ROE of Borroe.Finance
Borroe.Finance is solving the problem of funding for Web3 creators. Using its game-changing instant funding model, Borroe creates an AI-powered marketplace in its ecosystem that brings in investors and creators in the same space. This ecosystem is run with $ROE.
In the Borroe ecosystem, Web3 creators can access instant funding from future recurrent revenues like subscriptions or generate cash flow by minting NFT representations of future invoices to be sold at a discount in the Borroe NFT marketplace.
$ROE is currently selling for $0.0125 in the first stage of its presale, and over 85% of the token for this stage has been sold.
QUBE of InQubeta
The InQubeta project also seeks to create easy access to funding. However, it focuses on AI startups. To help the AI industry with funding access, QUBE runs the innovative InQubeta NFT marketplace that implements the mechanism of fractionalized assets, making it a growing attraction for investors.
The marketplace enables qualified AI startups to mint investment opportunities from their businesses and list them as fractionalized bits of NFT. This gives different classes of investors the opportunity to support AI projects of their choice, irrespective of their income level.
QUBE is going for $0.0133 and is in stage 4 of its presale. It has already sold off over 72% of the stage’s allocated tokens.
$DOMI of Domini.Art
Domini also promotes the fractionalized asset mechanism. However, it introduces this innovation into the traditional art market. Domini allows $DOMI holders to own fractionalized artworks at a fraction of the price traditional art markets offer.
Domini gets iconic artwork and, after it is secured, digitizes it into NFT. This NFT is broken into fractions that are different partial ownerships of the digitized artwork. Giving art lovers and investors an opportunity to own a diversified portfolio at a more affordable cost while also using blockchain technology to protect against theft, Domini is out to disrupt the traditional art market as $DOMI powers a new way to own blue-chip art.
Presently in the Beta phase of its presale, $DOMI is selling for $0.0021 and has sold over 23 million of the allocated tokens.
Unlike memecoins that are mainly created for entertainment, utility tokens, as the name implies, have usefulness in a project that promotes their worth. With $ROE improving funding access for Web3 creators, QUBE supporting AI Startups, and $DOMI reducing the barrier to NFT ownership, it is understandable that they’re quickly becoming tokens to watch.
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