Hence Saturday, there has been a lot of selling pressure on the markets for cryptocurrencies. Bitcoin (BTC) was almost at $30,000 on Saturday, but since then, it has gone down by more than 6.5% and was last trading below the $28,000 mark.
Bitcoin was the first crypto ever created, and it now has the largest market capitalization of any cryptocurrency in the world. It is frequently referred to as “digital gold” since many people believe that it is the cryptocurrency that is the most decentralized, safe, and stable currently available.
Ether (ETH), on the other hand, was last selling in the $1,860s, down about 8% from a pump last Friday and Saturday that briefly pushed the cryptocurrency above $2,000.
Ether is the coin that runs the smart-contract-enabled Ethereum blockchain. Based on market capitalization, it is the second most valuable cryptocurrency in the world.
Concerns about high transaction fees on both the Bitcoin and Ethereum networks, which have seen a rise in transactions linked to meme coins, have been brought up by some analysts.
In the past, when trade activity for meme coins went up, it was a sign that blue-chip cryptocurrency prices were about to peak.
Both cryptocurrencies are now moving to the south of their 21-Day Moving Averages (DMA) and 50-Day Moving Averages (DMA). This is bad news for short-term crypto bulls.
Some Bitcoin bears think the price could drop to around $25,000, and traders are keeping an eye on the US inflation numbers coming out later this week as a possible bearish trigger.
The top MoM inflation rate is expected to go up to 0.4% from 0.1% in the US Consumer Price Index report on Wednesday.
AiDoge is pumping as the presale brings in $1 million in 24 hours.
While blue-chip cryptocurrencies aren’t doing well, and meme coins like $PEPE and $SPONGE are coming down from their recent highs, buyers are looking for the next meme coin gem that could give them short-term gains that are many times larger than normal.
The crypto presale for the revolutionary meme coin AiDoge has raised a huge $1 million in just the last 24 hours. This suggests that many investors think AiDoge could be the next big meme coin to blow.
Through the sale of its $AI token, the up-and-coming meme coin project has now received more than $3.8 million from early investors. Its viral meme-making social media platform uses cutting-edge generative AI technology.
AiDoge, which is at the crossroads of the meme and artificial intelligence (AI) worlds, is building a revolutionary new crypto-powered web3 platform that will let users share and vote on memes made by other users using the platform’s groundbreaking AI technology.
And users who make the best jokes will be paid in AiDoge’s native $AI token for their work.
The revolutionary new “meme-to-earn” (M2E) idea that AiDoge came up with is supposed to change the game.
For the first time, the best meme makers on the internet will be able to turn their hobby into a way to make money, and the blockchain technology that the AiDoge platform is built on will protect their ownership rights over their material.
Investors who act quickly can still buy $AI tokens for a very low price of $0.000028 per coin.
Since $AI will be listed on big exchanges at $0.0000336 next quarter, buyers who buy it now will have paper gains of 20% guaranteed.
With a total of 1 trillion tokens supply, AiDoge will make its debut on major cryptocurrency platforms with a fully diluted market cap of $33.6 million.
But many experts think that AiDoge’s fully diluted market cap could go a lot higher as interest in both AI technology and meme coins grows.
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