Dogwifhat, Pepe Suffer Losses but New Meme Coin WienerAI Has Raised $7M
The meme coin market has had a wild week so far.
Fan favorites Dogwifhat (WIF) and Pepe (PEPE) have taken a nosedive, reminding traders of their unpredictability.
Yet despite this downturn, one newcomer is bucking the trend – WienerAI (WAI).
This new token has raised over $7 million in its presale and is gearing up for an exchange launch later this year.
Dogwifhat Has Tough Week with 23% Price Drop
Dogwifhat is having a rough week.
The dog-themed meme coin has tumbled 11% in the past 24 hours, extending its losses to 23% since Monday.
This downward spiral kicked off when WIF rejected the 200-period exponential moving average (EMA) as resistance on the 4-hour chart.
And since that rejection, it’s been all downhill for WIF.
The token has even slipped below its 50-period EMA, a bearish signal that’s got traders concerned.
With this key technical indicator breached, all eyes are now on the $1.50 mark as the next potential support level.
Oddly enough, despite the price plunge, spot volumes for Dogwifhat have surged 96% in the past day.
This increased activity might indicate bargain hunters trying to time the rebound.
Either way, WIF’s woes seem part of a broader market slump.
Bitcoin fell below $60,000 yesterday, and with the bearishness continuing today, the coin is dragging WIF down with it.
PEPE Breaks Key Support Level, Sparking Investor Concerns
PEPE isn’t faring any better this week.
The token has fallen off a cliff, trading at just $0.0000094.
This slump has seen PEPE break through the critical $0.000010 support level – a threshold that previously acted as a psychological safety net for traders.
And the damage is significant.
PEPE is now at its lowest price since May 20.
Since Monday, the token has shed 22% of its value, leaving many holders worried about how far it could fall.
Adding to the concern, open interest in PEPE futures has recently started to dip.
This suggests that even speculative traders might be losing faith in the token.
Ultimately, this perfect storm of negative factors has left PEPE investors wondering if their favorite meme coin can rebound.
Right now, it doesn’t seem likely.
But given PEPE’s ability to produce wild price swings, there’s always a chance for a sudden resurgence.
WienerAI Gains Momentum with Multi-Million Dollar Presale & AI Trading Bot
While WIF and PEPE struggle, WienerAI is going from strength to strength.
This AI-powered crypto has just passed the $7 million mark in its ongoing presale – proving there’s still demand for creative meme coins.
Most of WienerAI’s appeal is down to its trading bot.
Investors can ask it questions like “Which altcoin should I invest in?” and the bot will scan the market for viable opportunities.
Once it finds opportunities, it will present clear reasons for choosing them.
But that’s not all.
WienerAI’s bot also offers seamless token swaps, meaning there’s no need to worry about navigating different exchanges or having multiple wallets.
The bot will even execute these swaps with no fees.
This makes WienerAI a powerful tool for anyone looking to simplify their crypto trading experience – and potentially maximize their returns.
It’s no surprise, then, that WienerAI’s presale has been such a hit.
Early investors can buy WAI, WienerAI’s native token, for just $0.000725 during the presale.
According to the project’s whitepaper, once the presale ends, the developers plan to list WAI on DEXs (and CEXs later).
These exchange listings are already highly-anticipated by members of WienerAI’s Telegram community.
All in all, the signs look promising for this new project.
Even though WIF and PEPE are struggling, WienerAI could be a breath of fresh air for investors.
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