The cryptocurrency market continues to experience heightened investor interest and activity as more of these digital assets get integrated into the global financial and technology sectors. From being seen as the future, cryptos are now a reality and more savvy investors want a piece of the over $3 trillion pie.  

Among the altcoins that have captured investors’ attention is iDEGEN. It is a social experiment that has craftily and successfully amalgamated the principles of AI), social media, and the craze on meme coins. It has raised over $9.6 million a week ahead of its exchange debut.

BURNmas, BONK’s burning event held on 26th December, saw 1.69 trillion tokens of the dog-themed meme coin destroyed. The amount represents 1.85 of BONK’s total supply and has now dropped the available tokens from the initial 100 trillion to 91 trillion. The event was the culmination of heightened community engagement under #LetsBONK. 

Token burns tend to push prices higher due to reduced supply. However, BONK’s event has not yielded the expected outcome. According to CoinMarketCap, the meme coin, which is ranked 52 on the list of top cryptocurrencies, has had its market cap drop by 7.13% to $2.39 billion. Similarly, its price and trading volume have dropped by 7.15% and 22.08% respectively.

Low trading activity during the current festive season has contributed to the price decline. Besides, the broader crypto market is experienced eased bullish sentiment as Bitcoin lacks enough momentum to retest $100,000.  

A look at BONK’s daily chart shows the formation of the bearish death cross with the short-term 20-day EMA having crossed the medium-term 50-day EMA to the downside. However, within a relative strength index (RSI) of 42, the crypto may continue finding support at the crucial zone of $0.00003000. More specifically, the range between this 7-week steady support level and the resistance zone of $0.00003435 will be worth watching.

On 26th November 2024, creators of iDEGEN launched a unique auction that has since blown out beyond their expectations. About a month into the presale, the project has raised close to $10 million with over a billion $IDGN tokens sold to more than 12,000 holders.

The success and virality of this project is largely founded on the principle of AI being the present and the future. Indeed, AI meme coins are taking over the market, with their total market cap being close to $7 billion. The likes of ai16z, Ava AI, and  VaderAI by Virtuals have had their prices surge by 78%, 134%, and 151% over the past 7 days respectively. At a market cap of over $1.3 billion, ai16z is ranked 94 on the list of top cryptocurrencies.    

iDEGEN, the new entrant in the AI meme coin scene has the potential to top these figures. In slightly over a month, it has recorded gains of over 92,000%. As such,an overwhelming number of savvy investors are rushing to own some $IDGN tokens ahead of its listing in less than a week from now on 1st January 2025. 

Beyond the concept of AI, what’s more enticing about iDEGEN is that it has been built “by the people, for the people”. As its slogan reads, the project is “AI Born. Degen Raised”. 

In the absence of any guard rails, Crypto Twitter can shape the project’s path as it chooses. With all the chaos thrown its way in the form of tweets, comments, and tags, iDEGEN learns, adopts, and tweets after every 60 minutes. 

Savvy investors understand that this level of wildness and virality is the foundation of a successful meme coin.In fact, it is this intense community engagement that saw the likes of Dogecoin transform from a mere joke to a top crypto with a valuation of over $46 billion. 

Besides, $IDGN is not just a token that investors are interested in; they can actually afford it. Its price varies every 5 minutes depending on its demand. Under this dynamic pricing model, purchases in two consecutive 5-minute intervals yields a price increase of 5% in the next interval. On the flipside, absence of a purchase in a span of 5 minutes causes the price to drop by 5%.

At the time of its listing, the price will be 10% higher than at the time of the auction closing. In addition to ensuring that the holders get the value that they actually asked for, this model is effective at deterring abrupt dumps upon listing. 

Learn more about IDEGEN here.

Dogecoin, a meme coin that started out as a joke, has grown to be the 7th leading cryptocurrency with a market cap of over $47 billion. Among the aspects that have contributed to this immense growth is its aggressive community engagement.  For instance, tweets from Elon Musk have bolstered its price on several occasions.   

With Musk now being part of the US government’s Department of Government Efficiency (DOGE), some analysts forecast that the dog-themed coin will hit $1 in 2025. However, in the short term, it will likely remain range-bound as the Bitcoin-led rallying eases. 

A look at its daily chart shows a probable death cross as the 2 and 50-day EMAs near convergence at around $0.3451. In the near term, the range between $0.30000 and $0.3415 will be worth watching. Further rebounding may have the bulls finding resistance at $0.3505. 

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