While the crypto market is currently going through a relatively gloomy period, the price of Dogecoin (DOGE) has fallen by almost 1.5% over the past 24 hours, with a slight descent towards the zone of $0.070790.
As a result of this downward movement, DOGE’s market capitalization fell below the symbolic $10 billion mark, and now sits in eighth position in the crypto ecosystem just behind Cardano and XRP.
The DOGE tumble implies that its price recorded a drop of more than 10% over the week and 13.5% over the last 30 days. Thus, the memecoin is up by only 0.5% since the beginning of 2023.
Due to the poor performance of Dogecoin in the recent period, many investors are gradually starting to turn to other more promising projects, this is particularly the case of Pepe (PEPE) and SpongeBob (SPONGE) which posted outstanding results over the past few weeks.
These two memecoins will no doubt soon be followed by AiDoge (AI), a project whose ambition is to create a platform focused on the creation and sharing of memes thanks to artificial intelligence, in addition to offering remuneration to its users. they manage to create popular memes within the community.
Note that the project is already a great success with investors since it has managed to raise more than 6 million dollars in the space of just a few weeks.
Dogecoin Price Predictions: Can DOGE Maintain Its Leading Position in the Memecoin Industry?
Despite its recent downward price movement, the DOGE chart is beginning to show signs of improvement, with its relative strength index (in purple) rising above the 50 score after spending several days below the bar. of 30.
Additionally, DOGE’s 30-day moving average (in yellow) suggests that it could fall well below its 200-day moving average (in blue). This is a positive signal for the price of DOGE as it implies that a rebound is possible or even probable on a short-term horizon.
This supposition is reinforced by the current support level of DOGE (in green), which has recently started to climb after a period of decline, indicating that the memecoin is strengthening its position.
Indeed, the movement that took DOGE’s total market capitalization above the symbolic $10 billion mark was reversed only because of a general decline that hit the entire crypto market, with in particular a 4% drop in Bitcoin (BTC) price earlier today.
It also seems that a large number of whales are now taking advantage of the situation to accumulate DOGE in the hope of seeing the price of the latter go up in the summer of 2023.
Thus, it is perfectly legitimate to expect a rise in DOGE in the more or less near future, the question now is how far the price will be able to evolve. In the immediate future, the objective of 0.075 dollar is to be watched carefully.
As for its longer-term prospects, it depends almost exclusively on Twitter, which will introduce (according to the community that revolves around Dogecoin) DOGE payments on the social network at a later date yet to be determined.
Of course, it is not certain that this moment will ever come, but the probability is not zero for all that. And if ever Twitter finally integrates DOGE payments on its platform, then the price of memecoin will undoubtedly benefit from an exceptional rise which could greatly exceed the x20 due to the importance of this use case and the number particularly high number of Twitter users.
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AiDoge: greater growth potential for the next few weeks?
For investors who do not want to position themselves on a narrative as uncertain as the one mentioned above with the integration of payments in Dogecoin on Twitter, it is potentially interesting to turn to other altcoins with solid fundamentals.
Many projects of this kind are currently appearing within the ecosystem, and one of the most interesting of the present period is called AiDoge, a platform focused on the creation and sharing of memes using technologies from the artificial intelligence.
Using the power of artificial intelligence, the AiDoge platform generates images from descriptive texts provided by users. Thus, it is not necessary to have skills in the field of illustration or graphic design to start creating content.
Once they have managed to generate several memes, users can then share them with the community of the AiDoge project. This will be able to vote for the most popular memes.
The most prolific content creators will be rewarded via AI tokens, which can be staked and used to unlock special features within the platform. Note that AiDoge has recently started a collaboration with SpongeBob (SPONGE), another memecoin project which is also enjoying strong enthusiasm from investors.
This partnership will improve the visibility of the AiDoge project, whose pre-sale is currently in its 10th phase, which implies that the price of the AI token is currently set at $0.0000296. During the final presale phase, the AI token will go to a price of $0.00003360which corresponds to an increase of 15% compared to current levels.
Investors can join the presale by visiting the official website of the AiDoge project and connecting their crypto wallet, so as to buy AI tokens using ETH, BNB or USDT. In addition, it is also possible to make a purchase of tokens simply by using the blue card.
Click here to participate in the AiDoge project presale and buy AI tokens