There are many arguments for the oldest meme coin to date. But the number of disadvantages is just as long. So far, the developers and the community have been able to lean back and relax. With the support of Elon Musk, the DOGE price continued to rise. With a market cap of over $10 billion, the #1 meme coin has done great things. But now the pressure on DOGE is increasing!
- On April 30, 2021, Dogecoin’s ATH was €0.32
- Today the DOGE rate is only €0.068
- The starting price on January 5, 2018 was €0.014
- Top 100 wallets hold more than 66% DOGE
100 wallets hold over 66% DOGE tokens
When Bitcoin and the associated white paper were published, it was clearly about decentralization and independence from third parties. If we look 14 years later at the most successful and oldest meme coin DOGE, the overall picture for token holders looks more like centralization than decentralization.
From over 4.9 million wallet addresses, 100 hold more than 66% of all available DOGE. How much of it is in Elon Musk’s hands is unclear. However, there were already indications at the end of 2022 that the wallet address named Robinhood could belong to the Twitter boss.
The Musk Doge effect is bothering more and more investors
Of course it’s nice when a celebrity tweets and my portfolio increases in value. After the DOGE investors had gratefully accepted the support of Elon Musk for a long time, critical voices about the Musk-Doge effect are now increasing. The “DoGFather” is said to hold 28% of DOGE’s total offering. His influences on the course probably benefit him first of all.
The cryptocurrency, ranked 8th by market capitalization, is dependent on the whims of the richest person and more and more investors understand that his opinion can change his mind at any time. What about the DOGE course then?
Most likely, this would yield even more than it already does. Because if you compare all the data in the chart, there were no big price jumps after the ATH from April 21.
These are DOGE’s competitors
You probably now expect to read names like Shiba Inu or Pepe. Of course, the two meme coins have a high status on the market. Shiba Inu has a market cap of over $5 billion, Pepe over $638 million. But behind their price developments there have been mainly red numbers with an arrow pointing down for weeks and months.
The meme market is changing, going from pure fun coins to meme coins with real use cases. The added value of a coin is also at the top of the list of what investors want from a crypto project when it comes to memes. If you sort all meme coins by market capitalization at CoinMarketCap, then the well-known coins from DOGE, SHIB, PEPE and FLOKI are at the top of the list.
Floki is also assigned to Elon Musk’s favour, he can apparently also manipulate this course with his tweets up and down. But if you sort the list of all meme coins according to the positive changes in the last 24 hours, only PEPE and $SPONGE as well-known representatives of their group. Instead, Family Guy, RAJ, gold pieces, CEO, snek, Saudi Pepe and AIDOGE are the leading coins in this view.
Investors are looking for cheap meme coins with added value
Let’s sort the list by price and start with the most expensive meme coins. Here, too, a uniformly red image, the price of the last hour, the last 24 hours and the last 7 days are in free fall. Starting at $298.63 for the Doge Killer LEASH to the Dogecoin itself at $0.07239, expensive coins are apparently not in the favor of investors right now.
Cryptocurrencies that use AI or offer their users intelligent applications are very high in the ranking of the most successful categories. Such as ArbDoge, AIDOGE. The AI token has gained around 14% in the last 24 hours. The price today is $0.000000000337, the market cap is $58 million. AiDoge also uses artificial intelligence and uses the same technology as the developers of ChatGPT.
This is the ideal added value: memes + AI
AiDoge’s platform is a meme generator. It can be used to generate contextual memes created by intelligent algorithms. The project is still in presale and has already raised over $10.86 million. This money goes straight into the market cap once the token is launched on the first CEXs. Several pre-sales are still ahead, but the $Ai token is already in phase 16 of 20.
So if you want to benefit from the low prices in advance, you should hurry. On the platform, exchange the $Ai token for credits after the pre-sale ends. You then use these to create your own memes. You can either offer these for sale on a marketplace or use them to generate content yourself.
You can use the Ai-Doge platform for this:
- Generation of contextual memes
- Creation of memes with current news
- Building communities and followers
- Become an influencer or increase influence
- Build viral reach
- Become a content creator
- Working for brands
- reinforce branding
- Create marketing campaigns
- Make Twitter pay for posting the memes
Conclusion: Fun must be! But disillusionment has set in on the meme market. At least for the investors in the really big memes like Dogecoin, Shiba Inu and Pepe. The pressure on the leading meme coins is increasing by the day. The courses show that clearly. This is mainly due to new technologies that offer platforms and memes direct added value for their investors. In addition, the growth potential of DOGE & Co. is currently exhausted.
Instead, investors are looking for coins well below $1, like AiDoge’s crypto pre-sales. With very low prices even before the first launch, beginners and small investors in particular are addressed. This gives you the chance to win a meme coin that is free from external influences and mood-boosting posts from famous personalities. In the spirit of the inventor of Bitcoin, decentralization is again in the foreground and the focus on real use cases.
As an intelligent meme generator, AiDoge is taking this path and, by selling out 15 of the 20 planned pre-sales phases, shows that investors currently want to support such a project.
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About the author: Stefanie Herrnberger works as a freelance speaker and editor. Her many years of professional experience in the areas of blockchain, cryptocurrencies and NFTs offer her the perfect background to report on current news and developments on decentralized and central financial markets. Stefanie has been investing in cryptocurrencies for several years. She understands the challenges and opportunities for crypto traders. Publications: https://de.cryptonews.com/editors/stefanie-herrnberger https://blockchain-technologie.digital/ https://www.facebook.com/groups/cryptonewsde/
