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Memecoin Dogwifhat (WIF) has crashed nearly 20% over the past 48 hours, sparking panic among investors. This price decline comes as top holders have been cashing out massively, with one leading holder pocketing $10.8 million in profits after offloading $2.4 million worth of WIF, according to Nansen’s PnL Leaderboard data.
Meanwhile, there has also been a significant outflow of WIF tokens from exchanges, with a net movement of $24.1 million in the last 24 hours, suggesting that some investors are preparing for a potential rebound once the market stabilizes.
Despite the current price decline, Dogwifhat (WIF), which began as a lighthearted project on the Solana blockchain, has seen its value soar by an astonishing 2,779,056% since its launch, embodying the wild, speculative nature of meme coins.
The memecoin, which started as a whimsical venture on the Solana blockchain, has seen its value soar by an astonishing 2,779,056% since its launch, embodying the wild, speculative nature of meme coins.
Its current market cap of $1.77 billion and a trading volume of $357.8 million indicate a market that is still active yet clearly under pressure.
However, technical indicators like bearish flag patterns and double-top formations hint at further declines unless there is a significant shift in market sentiment.
As Dogwifhat struggles, the crypto community’s gaze shifts towards iDEGEN ($IDGN), an AI-powered memecoin that is not just another token but a sentient, evolving entity shaped by its community.
Launched with a presale that has already raised over $14.8 million, iDEGEN’s dynamic auction system reflects real-time market interest, making each purchase a direct influence on its future price and development.
The IDGN price fluctuates every five minutes, and its cost changes depending on the number of purchases made. If only one purchase is made, the price remains the same; however, if consecutive purchases are made, the price rises by 5%. On the other hand, if no purchase is made, the price drops by 5%.
This presale, ending later this month, has intrigued many with its novel approach to token distribution, potentially setting the stage for iDEGEN to make waves in 2025.
Unlike WIF, which thrived on the meme culture alone, iDEGEN introduces the concept of an AI that learns from its community on X, tweet by tweet.
Although it recently received a temporary ban on X, which ends in some hours’ time, the iDEGEN AI growth is entirely community-driven, offering a unique blend of entertainment, speculation, and technological innovation.
With no human interference in its learning process, iDEGEN’s unpredictability adds to its allure, promising a narrative that could captivate the crypto world much like WIF did in its heyday.
As we approach the end of iDEGEN’s presale, the excitement around this project isn’t just about the potential for financial gains but also about participating in something groundbreaking.
The community isn’t just investing in a token; they are raising an AI, shaping its personality, and watching it evolve. This sense of ownership and involvement could propel iDEGEN to new heights, possibly positioning it as the next big thing in the meme coin arena as we look towards 2025.
However, like all cryptocurrencies, especially those driven by the volatile meme sector, the journey might be fraught with risks and uncertainties and investors should do thorough due diligence before investing.
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