The cryptocurrency market is taking a downward turn, with popular coins like $PEPE feeling the pressure.
However, two new AI-based tokens, AiDoge and yPredict, are bucking the trend and continue to show strong growth.
Is the meme craze over? Pepe Coin and its peers are starting to decline
No one could have predicted back in mid-April that Pepe Coin ($PEPE) would continue to generate returns of over 3000% for early investors – but that’s exactly what happened.
$PEPE exploded onto the scene, fueled by a growing interest in the meme coin from retailers.
$PEPE also benefited from the fact that these traders seemed more interested in lower-cap offerings rather than established companies in the field, such as DOGE and SHIB.
At its peak, Pepe Coin reached a total market capitalization of over $1.6 billion, per CoinMarketCap.
However, the past few days have seen the price of $PEPE start to decline. At the time of writing, Pepe Coin was trading at $0.0000016 — which is 62.5% lower than the all-time high recorded on May 5.y.
Furthermore, $PEPE is no longer listed on CoinMarketCap’s “Best crypto gainersover the past seven days, suggesting that coin enthusiasts are now looking elsewhere.
It’s not just Pepe Coin that has taken a hit, as a host of viral meme coins have seen their values plummet.
Queen Gekko He notes that Wojak ($WOJ) is now down 78% from its all-time high, while Turbo ($TURBO) is down more than 67%.
Unfortunately for cryptocurrency investors, the bearish sentiment is not just limited to the meme currency niche. Bitcoin and Ethereum also suffered significant price drops over the past week – even after better-than-expected US inflation data.
These events highlight that the crypto community seems unconvinced about the coins and tokens that brought the market back to life in April.
Furthermore, the fact that coins like PEPE and WOJ still don’t have real-world use cases makes it difficult to develop a bullish thesis for their redemption – driving down the prices on offer today.
AiDoge Offers Ray of Hope to Mimi Queen Fans, Raising Over $5.5 Million
In the midst of the downward spiral seen in many meme coins, AiDoge ($AI) He seems to be leading his own path.
The new AI-powered meme project is catching fire in the market and has raised $5.6 million during the pre-sale in less than three weeks.
Unlike projects like Pepe Coin, AiDoge has a built-in tool that seems likely to drive investor demand in the long term – making it unlikely that a token like $PEPE that was once listed on centralized exchanges (CEXs) will drop in price.
But what is AiDoge? for each project White papersAiDoge is an “AI-driven meme creation 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 – making it easy to “go viral”.
The AiDoge ecosystem is based on $AI – the project’s original ERC-20 token. Meme lovers will need to purchase $AI to get the required credits 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 for the long term.
Hype is already building around the AiDoge project, which has resulted in nearly 18,000 people joining the official Telegram channel.
Mimi Coin fans can still buy the AI in US dollars by pre-ordering the project ahead of CEX listings scheduled for Q3 2023.
The pre-sale will have 20 stages, with stage 9 now ongoing, which means $0.0000292 AI tokens – 15% off the planned exchange list price.
The new crypto analytics system yPredict continues to impress investors
Along with AiDoge, the Polygon-based analytics platform y expect It also caught the attention of crypto-savvy investors.
yPredict is a much different prospect than AiDoge in that it doesn’t use a “Doge-themed” approach to entice coin lovers. Instead, yPredict is a full-fledged analytics system that aims to give traders an edge in the cryptocurrency market.
As mentioned in the file White papersThe yPredict platform will display price predictions for thousands of coins and tokens generated by in-house predictive models.
Not only that, but yPredict will also have a host of analysis tools, including automatic pattern recognition, trader sentiment analysis, advanced technical indicators, transaction metrics, and much more.
However, the main feature of yPredict 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, payable in YPRED – the native yPredict token.
This setup allows retail traders access to sophisticated trading algorithms usually reserved for high net worth investors.
Although the yPredict ecosystem is still in development, potential investors can purchase YPRED tokens through the project’s pre-offering — which has raised nearly $900,000 in funding.
This pre-sale will have eight phases, with phase 4 now continuing, meaning $0.05 YPRED tokens will be priced at $0.05 — well below the exchange’s planned list price of $0.12.
Those interested in learning more about yPredict can join the fast growing group Telegram community.
This article is sponsored content and does not represent the views or opinions of BeInCrypto. While we adhere to the Trust Project’s guidelines for unbiased and transparent reporting, this content is generated by a third party and is intended for promotional purposes. Readers are advised to independently verify information and consult with a professional before making decisions based on this Sponsored Content.