Key takeaways

The cryptocurrency market began the week poorly, with Bitcoin dropping to the $93k region on Monday. However, Bitcoin rallied by over 3% on Wednesday to reclaim the $100k level.

At press time, the Bitcoin price stands at $100,877 and could rally higher in the coming days. Market analysts expect a Fed rate cut next week, which could spark a further upward move for Bitcoin. 

The crypto market underwent a correction earlier this week, and the funding rate has now returned to neutral. This implies that investors are pushing more funds into the crypto market again.

Investors are also looking at new projects, and one that is grabbing headlines is iDEGEN. It is a project that seeks to merge the memecoin and the AI ecosystems. It is a sentient degenerate AI memelord.

According to the team, the iDEGEN tool learns, evolves, and adapts based on what the community feeds it on X. This primarily implies that iDEGEN is powered by AI but ultimately raised by degens. 

Its launch as a memecoin is understandable, considering the massive growth recorded by memecoins in recent years. The memecoin market is worth over $45 billion and is expected to grow larger in the coming months and years. 

Users feed iDEGEN their data through tweets, tags, and comments. The tool then absorbs that post and adds it to its knowledge base; that’s how it learns. Furthermore, the tool posts on X every 60 minutes and can generate and post memes. 

Read more about the iDEGEN project here. 

The iDEGEN pre-market auction is selling out fast. The team has sold nearly 1 billion $IDGN tokens, raising $4.2 million in the process. 

The pre-market auction leverages an unconventional method to attract more investors. iDEGEN’s presale price adjusts every five minutes based on market activity. iDEGEN explained that the price remains steady for the next period if an investor purchases $IDGN tokens within five minutes. However, if purchases occur consecutively, $IDGN’s price rises by 5%. Finally, if no one buys the tokens within five minutes, the price drops by 5%.

Per the team’s whitepaper, the pre-market auction will continue until January 1, 2025. Once the pre-market auction ends, the $IDGN token will list on cryptocurrency exchanges. 

The crypto market is in a Bull Run, and market experts expect further growth in 2025. With iDEGEN launching on the first day of 2025, investing in the project during its presale could be a smart decision. 

iDEGEN is an interesting project that combines AI and meme coins. It could become one of the leading meme coin projects on the Solana blockchain. Its adoption of a pre-market auction model also ensures transparency and fairness during the token sale process. Finally, the iDEGEN team’s website has a live pre-market listing price, allowing investors to track the token’s progress accurately before its launch on trading platforms.

The post Bitcoin reclaims $100k, could rally higher on possible Fed rate cut appeared first on CoinJournal.

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