The crypto market is currently in a difficult period as major cryptos such as Bitcoin and Ethereum drop significantly in value. Now that volatility within the crypto market is increasing, it seems to be the riskier cryptos that are suffering the biggest losses. Why are these popular cryptocurrencies falling?
Despite the recent rebound following the Bitcoin halving, Bitcoin has continued to fall and is already almost $20k lower than its recent all-time high of $74k. The market is clearly having a hard time and the Bitcoin price fell by another 8.63% today, while Ethereum has also fallen more than 8%.
However, it seems to be the meme coin market that is being hit the hardest by this recent bearish phase. The Doge price has already fallen by 11.14% today and has now fallen more than 23% over the past week. The Pepe price is also having a hard time and fell by 13.08% today. The WIF price has been hit the hardest and has already lost more than 31% in the past week.
Meme coin market crashes – why is crypto falling?
The crypto market seems to be becoming increasingly volatile and this has resulted in a lot of capital being withdrawn from the crypto market or transferred to safer investments such as stablecoins or Bitcoin. In fact, over $140 million worth of capital was liquidated in less than 4 hours yesterday. At the same time, Bitcoin’s share in the crypto market also rose by 1% yesterday.
This shift from risky to ‘safe’ cryptos and investments has caused the risky meme coin market to struggle. In the current phase of the crypto market, many investors find the risk of meme coins too great and choose to invest their capital elsewhere. This has caused the entire meme coin market to drop more than 12% today.
Future meme coin market
After these recent declines, many investors are wondering what the near future looks like for the meme coin market.
At this point, investors will want to pay particular attention to news regarding macroeconomic events. Positive events such as the launch of a Spot Ethereum ETF and new Spot Bitcoin ETFs in Hong Kong and the US can easily move the crypto market into a bullish trend. At that point, it will be the meme coins that can benefit the most.
The approval of a Spot Ethereum ETF could therefore play an important role in the future of the meme coin market. The SEC will make a decision on future Spit ETH ETFs on May 23. This is an important event that can breathe new life into the crypto market and the meme coin sector.
Until then, investors can consider investing in meme coins that are currently less affected by the performance of the crypto market. Presale tokens in particular are not affected as much by this performance because these tokens have not yet been listed on exchanges. The best presale crypto at the moment are Dogeverse and WienerAI.
Dogeverse (DOGEVERSE) – new alternative to Dogecoin that aims to revolutionize the meme coin market
Dogeverse is a recently launched meme coin that can already count on the necessary support. This project recently launched its unique alternative to Dogecoin. It differentiates itself from other Dogecoin alternatives by developing its native token for multiple blockchains. In this way it wants to offer a multi-chain alternative to the largest meme coin in the world.
For this reason, the Dogeverse token will be developed for the Ethereum, Solana, Polygon, BNB, BASE and Avalanche blockchains, among others. This will also allow users to take advantage of the best features of these blockchains. In addition, the project indicates that it can count on better liquidity, which will ensure that transactions on this network are faster and cheaper.
The Doger project has a maximum token supply of 200 billion tokens. 30 billion of these tokens are reserved for the presale that is currently live. In addition, another 20 billion tokens have been reserved for staking rewards. Even though the presale is live, users can already realize a passive income by immediately locking in their purchased tokens.
The presale itself has already raised more than $12.8 million, confirming how much confidence investors have in this project. Interested investors now have a short time to purchase the DOGEVERSE token for $0.000304. This price will increase in the next presale phase.
WienerAI (WAI) – new dog meme coin with a twist
WienerAI is a new meme coin that aims to change the trend of dog meme coins by introducing its ‘wiener’ dog mascot. WienerAI is a ‘wiener’ dog that has been influenced by AI. This project also aims to bring the worlds of AI crypto and meme coins together.
By combining the worlds of AI crypto and meme coins, this project quickly received the necessary support from both communities. The token was launched on the Ethereum blockchain and therefore uses all the functions of a standard ERC-20 token.
That means users can also stake the token in exchange for attractive rewards. There is currently even talk of an APY of 1,251%. Although this percentage will of course continue to decline, early investors will still be able to realize considerable profits.
WienerAI’s presale has already raised more than $680,000, despite only recently starting. 1 WAI token currently costs $0.000702 each, but this price will increase further within 24 hours when the presale enters its next phase. Tokens can be purchased via ETH, USDT, BNB and credit card.
Disclaimer: This article contains insights from independent authors and is not part of the editorial content of BitcoinMagazine.nl. This is not investment advice, please do your own research.
