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As traders have flocked to new memecoins like PepeCoin, the original meme coin, Dogecoin, has taken a hit. The token is down 18% over the last month and now sits at $0.073.
Dogecoin spiked over $0.10 as recently as December. Many analysts think it could get back over that key price threshold in the near future, but it's unclear whether Dogecoin could bounce back within the next few weeks.
In the meantime, traders are keeping a close eye on other emerging tokens, including meme coin AiDoge and the native token of Web3 freelance marketplace Deelance.
Dogecoin Retests Support, Breakout Prospects Remain Unclear
After hitting a one-year high of $0.14 last November, Dogecoin has been trading sideways since the start of the year. The meme coin has bounced between lows of $0.070-$0.075 and highs of $0.090-$0.10.
$DOGE has tried several times to break through the all-important $0.10 level, but failed each time. In February it reached a high of $0.097, and in April it hit $0.096. Both times, price momentum faded as Dogecoin bounced downward off a technical resistance level.
Now, $DOGE is retesting its support at $0.073. Trading volume is very low at just $215 million, suggesting that there isn't much chance of either a significant bounce or a breakdown. During the resistance test in early April, trading volume in Dogecoin was over $3 billion.
All of this means that, in the short term, Dogecoin is likely to continue its sideways price pattern. Until there's a significant catalyst - such as a tweet from Elon Musk, who has pumped Dogecoin in the past - traders shouldn't expect Dogecoin to reach $0.10 this May.
AiDoge Raises Over $7.5 Million for AI-powered Meme Creation
Despite the lull in trading around Dogecoin, traders can still find opportunities in the meme coin space. AiDoge, a new crypto project based on the same shiba inu meme as Dogecoin, recently broke the $7.5 million fundraising mark in its ongoing crypto presale.
This project looks like it could be the next meme coin to explode, with investors piling into the presale in record time. AiDoge's presale has only been active for several weeks and is already more than 50% sold out.
AiDoge has gained popularity so quickly because it's not just another meme coin - it's a meme coin that helps users generate more memes.
AiDoge.com is building a generative AI algorithm that can create new memes in seconds, using only a text prompt. That makes it easy for anyone to generate a viral new meme, even if they've never created a meme before. Experienced memesters can use AiDoge to take their creativity to the next level.
Even better, AiDoge enables users to mint their new memes as NFTs. This allows meme creators to verifiably claim ownership over a meme after it goes viral.
AiDoge's native $AI token is at the center of this new project. Users can stake $AI to earn daily credits to generate memes. They can also earn $AI rewards for creating unique, top-rated memes through a community voting system.
Early investors can lock in the lowest price for $AI during the AiDoge presale. The next price increase is only a few days away.
Deelance Closes in on $5 Million for Web3 Freelance Marketplace
Deelance, a Web3 marketplace built to connect freelancers and businesses, has also attracted a lot of attention from crypto investors this month. The project's presale has raised more than $4 million already and is quickly approaching an ICO.
Deelance aims to revolutionize the market for freelance work by moving freelancers and businesses onto a decentralized, blockchain-backed platform. It promises the lowest fees in the industry for businesses and highly competitive fees for freelancers.
Deelance also enables payments in cryptocurrencies, which can speed up payments to freelancers and eliminate costly foreign transaction fees.
This project also solves a major problem in contract work: resolving ownership of intellectual property. With Deelance, deliverables are minted as NFTs and transferred to the business upon payment. This ensures that businesses have complete ownership over the work they pay for.
In the long run, Deelance aims to make freelance work more efficient and more profitable through a work-centric metaverse. Businesses and freelancers can advertise in this virtual space as well as hold meetings to collaborate.
The project's native $DLANCE coin plays an essential role in the Deelance metaverse. It will be required to pay for virtual billboards, office space, and more.
Investors can buy $DLANCE at $0.033 during the current stage of the Deelance presale. That's a 42% discount from the expected ICO price of $0.057. So, early investors have an opportunity to reap significant paper gains by the end of the presale.
DISCLAIMER: This is not to be taken as investment advice. Crypto is a volatile asset, do your own research before investing and only invest money you can afford to lose. We may receive commission for clicking links in this article.
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