The meme coin market is down 6% over the past 24 hours, with older meme coins such as Dogecoin and Shiba Inu showing signs of struggling. Dogecoin is down 6%, while Shiba Inu is down almost 5%. The two most established dog-themed meme coins have struggled this bull run to replicate the success of newcomers to the dog meme ecosystem.
However, the appetite for new meme coin projects with actual utility seems to be growing stronger as new dog-themed meme coin WienerAI passes the $1 million mark in its presale. The project’s combination of AI and meme virality seems to be capturing the hearts and minds of investors across the market.
Dogecoin Struggles to Replicate Success of Newer Meme Coins
Dogecoin, the first meme coin that captured the hearts of investors with its friendly Shiba Inu mascot, has experienced a decline in value over the past 24 hours. Once a token that sparked considerable media attention and a meteoric rise in price, largely due to celebrity endorsements, Dogecoin is now facing the realities of market volatility and the waning novelty factor.
The token has failed to see the same returns as many new meme coins this bull run, with only a double-digit increase this year. Meanwhile, other top ten tokens have triple or even quadruple-digit increases in the same period and much greater returns in Q1 of 2024. Still, many analysts are hopeful that this could be a dip before the price of $DOGE starts to rise again.
Shiba Inu Plods Behind Other Dog-Themed Meme Coins
Shiba Inu, another canine-themed meme coin often pegged as the ‘Dogecoin killer,’ has also not been spared from the market’s ebb and flow. Despite its efforts to build a robust ecosystem and passionate community backing, Shiba Inu prices have receded, reflecting the broader uncertainty in the meme coin sector.
While there were hopes that the recent Shibarium hard fork would mean huge upward movements, these gains have yet to be realized. Instead, confidence in the coin is dropping amongst some investors.
However, it’s clear that dog-themed meme coins are still the top dog in the meme coin scene. New dog meme coins like dogwifhat and Bonk have seen huge returns since their launch. A fresh dog-themed meme coin, WienerAI, that combines viral meme culture with AI-powered trading features, has been gathering steam in its presale.
WienerAI Passes $1 Million Mark as Attention Turns to the New AI-Meme Project
WienerAI ($WAI) is a unique cryptocurrency that combines artificial intelligence with the concept of canine loyalty and the love of sausages. Despite being a meme coin, WienerAI distinguishes itself by incorporating AI-based applications into its ecosystem.
WienerAI operates as a sophisticated trading bot, leveraging advanced artificial intelligence technology to offer traders an efficient and effective platform. Through its AI interface, WienerAI provides instant trading capabilities and robust predictive features, enabling traders to capitalize on market opportunities with ease.
The token has already raised over $1.3 million in its presale, showing strong investor interest in the project’s features. Currently, the token is priced at $0.000705 for 1 $WAI, but this price is set to go up in a matter of days.
