PEPE fell by over 12% below its crucial support level after the meme coin market fell by 14.5% in the last 24 hours.
Amid this uncertainty, many traders are now backing WienerAI as the next big meme token. This is mainly because it is seeing massive investor support, raising $700K in its launch week.
PEPE Tanks 12% as Top Meme Coins Suffer Losses
PEPE saw a correction over the past few days after it fell from the $0.0000077 resistance on 26 April.
This correction was rather expected after an over 60% week-long rally amid investor enthusiasm after Coinbase announced that it was listing PEPE’s perp contracts on its exchange.
As a result, many investors rushed to buy PEPE as there was a massive spike in buying pressure last week.
This was mainly due to a whale hoarding 211.6 billion PEPE (currently worth over $1.5 million) amid expectations of PEPE’s spot listing on Coinbase.
With the meme coin market witnessing a downtrend over the past day, PEPE saw an expected correction. The total meme coin market was worth around $44.5 Billion after falling by nearly 14.5% over the past day.
At the time of writing, PEPE traded at $0.00000608 after losing over 12% of its value in just the past 24 hours, correlating with the broader market decline.
This decline pulled PEPE below its week-long $0.0000062 support level to show a slight bearish edge. The immediate support level at $0.0000054 will now be crucial for the token to reclaim its bullish momentum.
However, data from IntoTheBlock shows that nearly 70% of the PEPE investors are still in profit at the time of writing.
As a result, even after the recent losses, many traders are still optimistic about a bull run in the meme coin market.
Traders looking for the next big meme token are now backing a brand-new token called WienerAI. It recently launched a presale, which has seen huge investor traction and raised nearly $700K in just a week of launch.
WienerAI is a New Meme Coin That Could Explode
WienerAI ($WAI) is a hot new meme crypto that combines the fun of memes with artificial intelligence (AI).
It is based on a funny story about a cybernetic being who’s part dog and part AI after a scientist accidentally mixed in some hot dog DNA. Wiener’s storyline has a humor that could go viral among investors.
The platform launched a presale of its native $WAI tokens. Early buyers can get the $WAI tokens for only $0.000702 at the time of writing. The initial investor response was quite remarkable, as the platform raised nearly $700K in its launch week.
However, this price will increase soon in the next presale round and during the expected exchange listings.
Early investors can also stake their $WAI tokens for a high APY of over 1,200% at press time. This staking model allows you to stake your tokens even before the presale ends.
WienerAI is inspired by projects like Scotty the AI, which became quite popular and raised millions in its presale. Now, it aims to be the new favorite in the crypto world, especially for people who like dog-themed tokens.
The platform currently offers 30% of its total 69 billion tokens to early supporters at a presale price. Interested users can enter WienerAI’s Telegram group and follow it on X (formerly Twitter) to keep up with the latest platform updates.
