As more digital assets are integrated in the financial and tech sectors, there is a continued increase of investor activity and interest. Cryptos have gone from being the future to a real thing and more investors are clamoring for a share of this $3 trillion market.
iDEGEN is one of the altcoins which has captured investor’s attention. This social experiment successfully combines the concepts of AI, social media and meme coins. The project has already raised $9.6m in a single week, ahead of the exchange’s debut.
BONK creates a bearish cross of death despite the BURNmas
The event, which took place on the 26th of December, resulted in 1,69 trillion tokens being destroyed. This amount is equivalent to 1.85 percent of BONK’s entire supply, and the tokens available have dropped from 100 trillion at the beginning down to 91 trillion. This event culminated a heightened level of community engagement with #LetsBONK.
Due to a reduced supply, token burns can cause prices to rise. BONK’s events have not had the desired outcome. CoinMarketCap reports that the market capitalization of the 52nd-ranked meme coin on the top 100 cryptocurrencies has dropped by 7.13 percent to $2.39 Billion. The price of the coin and its trading volume both dropped by 7.15 and 22.08 percent, respectively.
The price drop is due to low trading volume during this festive season. The broader cryptocurrency market has also experienced a waning bullish sentiment, as Bitcoin does not have enough momentum to test $100,000.
On the daily chart of BONK, the 20-day EMA has crossed below the 50-day EMA. Nevertheless, within a relative-strength index (RSI), the cryptocurrency may find support in the critical zone of $0.00003000. It is worth keeping an eye on the area between the 7-week support level and resistance of $0.00003435.
iDEGEN – The social experiment that is fueling the AI meme coin industry
The creators of iDEGEN held a special auction on 26th November, 2024. It has been a huge success. The project raised $10 million in less than a month, with more than a billion $IDGN tokens being sold to over 12,000 buyers.
This project’s success and virality is in large part based on the idea that AI is the present and future. AI memes are a booming market with a total value of close to $7 Billion. Prices of AI meme coins like ai16z and Ava AI have risen by 78% respectively, while VaderAI has soared by 151%. Ai16z, with a total market capitalization of $1.3 billion is the 94th most valuable cryptocurrency.
iDEGEN is the latest entrant into the AI meme coin market and has the ability to surpass these numbers. It has seen gains in just over a week of more than 92,000%. A large number of investors have rushed to buy $IDGN before its listing on the 1st of January 2025, which is less than one week away.
iDEGEN’s appeal goes beyond the AI concept. It was built by the people for the people. The slogan of the project reads “AI Born”. Degen Raised”.
Crypto Twitter is free to choose the direction of the project. iDEGEN is constantly learning, adapting, and tweeting in response to the tweets and comments.
Investors who are savvy understand this wildness is what makes a meme coin successful. In fact, this community involvement is why Dogecoin went from being a joke to becoming a crypto that is valued at over $46 billion.
$IDGN, besides being a token that is of interest to investors, can be afforded by them. Its price varies every 5 minutes depending on its demand. This dynamic pricing model allows for a 5% price hike in the following interval if two 5-minute purchases are made in a row. In the event that a customer does not make a purchase within a 5-minute period, the next interval will see a 5% price increase.
The price of the listing will be 10 percent higher than the closing auction. This model not only ensures that holders receive the price they asked for but also works to prevent sudden dumps.
Find out more information about IDEGEN by clicking here.
Dogecoin’s winding path to $1
Dogecoin began as a joke but has now grown into the seventh largest cryptocurrency, with a total market capitalization of more than $47 billion. This growth has been attributed to the aggressive engagement of its community. Tweets by Elon Musk, for example, have increased its value on multiple occasions.
Analysts predict that with Musk joining the Department of Government Efficiency of the US Government (DOGE), the coin featuring a dog will reach $1 by 2025. In the short-term, however, the coin will probably remain in a range as the Bitcoin led rallying slows down.
The daily chart of the currency shows a possible death cross, as both 2 and 50 day EMAs are nearing convergence around $0.3451. The range between $0.30000 to $0.3415 is worth monitoring in the short term. Bulls may find resistance near $0.355.
The post IDEGEN becomes viral, but Dogecoin and Bonk prices are still volatile may change as new information unfolds.
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