DOGE Price Surges 7% as Investors Explore New Dog-Themed ICO, Anticipating 1,121% Returns
Dogecoin ($DOGE), the original meme coin, has experienced a 7% increase in the past 24 hours, making it one of the fastest-recovering cryptocurrencies after a recent market crash. Currently trading at $0.1317, DOGE has seen a 12% decrease from last week, making it one of the biggest losers in the past seven days.
Bitcoin ($BTC) performed slightly better this week, with only a 7% drop in value. It is currently priced at $59,044. However, Bitcoin experienced a significant crash from a high of $64,515 on Tuesday to a low of $56,804 on Wednesday, resulting in a 12% intraday drop.
In comparison, Ethereum maintained its value better than both Bitcoin and Dogecoin. The ETH token, which underpins the most commercially important blockchain, only saw a 4.4% decrease over the week and is currently trading at $2,992. Both Bitcoin and Ethereum have seen a modest increase of just over 3% in the last 24 hours.
The only meme coin that experienced losses similar to Dogecoin this week was Floki ($FLOKI), a meme coin inspired by Elon Musk’s pet Shiba Inu. Like DOGE, FLOKI also saw a 12% decrease and is currently trading at $0.0001645.
Dogecoin’s trading chart demonstrates that it often trades differently from the wider market. While most projects peaked alongside Bitcoin in March, Dogecoin holders saw more moderate gains until after Bitcoin’s peak on March 14.
In late March, DOGE rallied to over 22 cents twice. Currently, there seems to be some buying momentum. Dogecoin has a relative strength index (RSI) of 61 and is steadily increasing, but it is approaching the overbought threshold, suggesting that this brief rally may soon lose steam.
The rally of Dogecoin coincided with the launch of another dog-themed meme coin called WienerAI ($WAI). This new meme token and AI companion have attracted attention from investors who are preparing for potentially significant rallies.
WienerAI is described as a “Revolutionary AI Trading partner” that offers user-friendly AI-enhanced trading advice, seamless swap functionality, and zero fees. With its exceptional capabilities, WienerAI is the ultimate asset for every crypto trader.
WienerAI’s whitepaper mentions “The Sausage Army,” referring to the followers it hopes to attract, suggesting a strong social component in the future.
Unlike Dogecoin’s “Doge Army,” WienerAI’s army is greener. This is because WienerAI utilizes a Proof-of-Stake (PoS) consensus mechanism, where miners with the most staked ETH receive the highest rewards. This mechanism is over 99% more energy-efficient than Bitcoin and Dogecoin’s Proof-of-Work consensus mechanism, which requires significant computing and energy resources.
The WienerAI smart contract has been audited by Coinsult, a blockchain security platform that conducts security checks on various crypto and blockchain platforms.
During the presale, buyers are encouraged to stake their tokens, as 20% of $WAI’s supply is allocated for staking. Currently, stakers can take advantage of the lucrative 1,121% APY on offer.
Although WienerAI remains mysterious, investors have already invested over $800,000 in its new presale. Everyone wants to own a tokenized piece of the most advanced beginner-friendly AI trading companion in the crypto world.
Stay updated on the latest developments through X/Twitter and Telegram and join the presale on the website.
Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes only and does not constitute investment advice. There is a possibility of losing all of your capital.