Dogecoin (DOGE) price has dropped 1.5% over the past 24-hours to $0.070790, canceling out a brief rally to a market cap of $10 billion this morning.
DOGE’s drop today means it is down 10% in one week and 13.5% in the last 30 days, with the meme token now up only 0.5% since the start of the year.
Given its poor performance recently, many traders have started turning to MiM Token, with PEPE and SPONGE being among the best performers over the past few weeks.
And these two new meme coins may soon be joined by adog (AI), a meme-generating platform that has already raised over $6 million in its pre-sale.
DOGE Reaches $10 Billion Market Cap As Dogecoin Price Prediction But Crypto Experts Say AiDoge Is A Better Buy – Here’s Why
Despite the recent declines and losses, DOGE’s chart is starting to look a bit more promising, with its Relative Strength Index (purple) moving towards 50 after spending some of the recent days below 30.
Additionally, DOGE’s 30-day moving average (yellow) now looks like it may not drop much below its 200-day average (blue), meaning a rally is imminent in the not-too-distant future.
This belief is reinforced by the support level (green) of DOGE, which has started rising again after a period of continuous decline, which means that Mem Token is consolidating its position.
Indeed, DOGE’s move towards a market cap of $10 billion was arguably only reversed by a decline that was common to the entire market, with Bitcoin (BTC) down 4% today.
And it looks like at least some whales are currently buying up Meme Token, taking advantage of its fairly low valuation right now.
So it is reasonable to suspect that DOGE is on the cusp of a recovery, with its price potentially rising above $0.070790 and a return to the $0.075 area in the coming weeks.
As for its long-term prospects, it all hinges on Twitter expecting the Dogecoin community to launch DOGE payments at some point in the future.
Of course, such a point may still be several years away, which probably explains why DOGE is performing poorly.
But if Twitter eventually brings DOGE payments, there is no doubt that meme token will enjoy a renaissance of sorts, rising to $0.1 and beyond.
AiDoge: over capacity?
For traders who don’t want to take a big bet on what Twitter may or may not do in the future, other altcoins may be better off at the moment, with several new meme tokens showing good potential.
is a notable meme token adogAn AI-powered meme-generating platform that has already raised over $6 million since the presale of its native token $AI in late April.
Using big data and advanced algorithms, aDog’s platform generates memes in response to text descriptions entered by users, requiring no technical expertise to create.
After creating a meme or two, users can submit their creations to the aDog community, which can upvote their favorites.
The most popular memes will earn their creators rewards in $AI, which can be used for staking and to gain access to aDog’s meme generating features.
Interestingly, adog has recently started a collaboration with SpongeBob, one of the most talked about meme tokens currently in the market.
This will provide additional exposure and promotion for AIdog, which is currently in the ninth phase of its pre-sale, during which the price of 1 $AI token is $0.0000292.
The price will move up to $0.0000296 in the next leg, representing a 15% increase compared to its current price, before ending at $0.00003360 in the last leg.
Investors can join by visiting its presale adog official website And connecting your wallet before using ETH, BNB, USDT or fiat currency to buy $AI.
