Dogwifhat crashed along with the broader cryptocurrency downturn. WIF investors will cash out and foreign exchange reserves will decrease. iDEGEN could be the meme coin leader in 2025.
Popular meme coin Dogwifhat (WIF) has seen a significant decline, falling below the key support level of $2 to $1.70. This decline, while not isolated, occurred in parallel with a broader crypto market downturn as investors liquidated their cash and centralized exchanges (CEXs) saw their reserves dwindle.
But amidst this WIF downturn, a new AI-driven meme coin, iDEGEN ($IDGN ) is attracting attention. .
Dogwifat drops below $2 as bearish flag pattern forms
Dogwifhat’s price has plunged nearly 20% in the past 48 hours, causing panic among investors. Memecoin has fallen from over $2.1 to $1.70 at the time of writing, with losses over the past two days erasing gains from the past week.
According to data from Nansen’s P&L Leaderboard, this price crash led to a pronounced trend of profit-taking among top investors, with one leading holder netting $10.8 million in profit while outflowing $2.4 million worth of WIF. I got it.
This decline reflects the movement of the WIF token from the exchange, which saw a significant outflow of $24.1 million in the past 24 hours, with some investors bracing for a possible rebound once the market stabilizes. It suggests that there is.
But despite the current price drop, Dogwifhat (WIF), which began as a quirky project on the Solana blockchain leveraging the success of dog-themed meme coins such as Dogecoin and Shiba Inu, has seen its value rise. It has soared an astonishing 2,779,056% since its inception. , embodying the wild and speculative nature of meme coins.
The current market cap of $1.77 billion and trading volume of $357.8 million reflects a market that, while still active, is clearly under pressure.
Moreover, unless there is a significant change in market sentiment, the immediate future for WIF looks bleak as technical indicators such as a bearish flag pattern and double top formation point to further decline.
Could iDEGEN be the future king of meme coins?
As Dogwifhat struggles, the crypto community’s attention turns to iDEGEN ($IDGN). iDEGEN ($IDGN) is an AI-powered meme coin that is not just a token, but a sentient, evolving entity shaped by its community.
Launched with a pre-sale that has already raised more than $14.8 million, iDEGEN’s dynamic auction system reflects real-time market interest, with each purchase directly impacting future prices and developments.
IDGN price changes every 5 minutes depending on the number of purchases. For one-time purchases, the price will remain the same, but for consecutive purchases, the price will increase by 5%. Conversely, if the item is not purchased, the price will be reduced by 5%.
The pre-sale, which ends later this month, has piqued the interest of many with its novel approach to token distribution, and could set the stage for iDEGEN to make waves in 2025.
Unlike WIF, which thrived solely on meme culture, iDEGEN introduces the concept of AI that learns from the community on X with each tweet.
Despite recently receiving a temporary ban on X that ends in a few hours, iDEGEN AI’s growth is entirely community-driven, offering a unique blend of entertainment, speculation, and innovation. .
With no human intervention in the learning process, iDEGEN’s unpredictability makes it even more appealing, promising a story that could captivate the cryptocurrency world in the same way that WIF did in its heyday.
As iDEGEN’s presale draws to a close, excitement about the project is growing, not only for the potential for financial gain, but also for being part of something groundbreaking. The community is not just investing in tokens. They nurture the AI, form its personality, and watch it evolve.
This sense of ownership and involvement could propel iDEGEN to new heights, positioning it as the next big thing in the meme coin space heading into 2025.
However, like all cryptocurrencies, especially those powered by the volatile meme sector, the process can involve risks and uncertainties, and investors should conduct thorough due diligence before investing. you need to do.
