Ethereum
Ethereum Meme Tokens Pepe and Mog Coin Crash as WienerAI Raises $7M in ICO
The meme coin roller coaster is at it again.
Pepe (PEPE) and Mog Coin (MOG) are seeing a serious drop today, which is a red flag for retail investors.
But not all currencies collapse.
WienerAI (WAI) continues to impress in its ICO phase, having crossed the $7 million funding milestone.
PEPE Token Suffers Significant Drop – Will It Hold Support?
PEPE is in trouble today.
The popular frog-themed token has fallen 9% in the past 24 hours and 22% since last Wednesday.
PEPE is now on sale at only $0.0000104 – its lowest point since June 24.
Today, the token is flirting dangerously with the $0.000010 mark.
This is a key psychological level for traders as PEPE has rejected it three times in recent weeks.
PEPE last closed below this level in mid-May, so all eyes are on whether it will hold or pull back.
But here’s where things get interesting: despite the token’s price drop, spot volumes have increased by 59% over the past day.
Add to that a open interest figure upand you have the recipe for serious market indecision.
It seems that PEPE’s race is not over yet.
It remains to be seen, however, whether the token can rebound from here or continue to fall.
Mog Coin Drops After Huge Price Volatility
Mog Coin is also having a rough day at the office, getting high approximately $0.00000137.
This is a 21% drop in the last 24 hours.
The cat-themed token has been volatile of late, falling 35% from Saturday’s local high and giving back most of last week’s gains.
MOG is approaching a potential support level around $0.00000130; it is unclear whether it will hold or not.
Despite the drop in MOG price, spot volumes remain stable at $35 million, suggesting strong interest in the token.
But MOG’s market capitalization has taken a hit.
It fell below the $500 million mark, meaning Popcat (POPCAT) returned the token in the rankings.
As profit-taking rages, we could see MOG fall further.
Unfortunately for MOG holders, the price drop does not appear to be tied to any specific news or developments.
Rather, it is a symptom of a broader sentiment of risk aversion in the cryptocurrency market at present.
So MOG is likely to continue to face headwinds until sentiment changes again.
WienerAI stands out for its advanced AI technology and growing community support
While some meme coins are in free fall, WienerAI is not.
This AI-powered token continues to perform well, having crossed the $7 million mark in its ongoing ICO.
What sets WienerAI apart from its peers?
This is the serious technology it brings with its AI-enhanced crypto trading bot.
This bot has sophisticated algorithms that use predictive technology to find potential winners in the market.
Additionally, the bot can execute buy/sell orders, all without any fees.
And the numbers speak for themselves.
Since the announcement of WienerAI’s trading bot, more than 14,500 people have followed the project Twitter page.
12,000 others are active on Telegram.
But this early community support isn’t just about the technology, as WienerAI has other tricks up its sleeve.
For example, there is a staking application for WAI which allows token holders to earn yield.
At the time of writing, annual returns are estimated at 163%.
So, WienerAI users can essentially use the bot to trade cryptocurrencies and earn passive income at the same time.
With the project’s smart contracts already audited by SolidProofThe WienerAI team prioritizes security.
It’s a refreshing approach in an industry rife with scams and rip-offs.
This focus on security, combined with the appeal of the trading bot, could be what helps WienerAI avoid the fate of PEPE and MOG.
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