Despite impressive strength in recent weeks, prominent meme coins Dogwifhat and Pepe have both struggled today, down 11% and 7%, respectively.
However, prominent traders are backing the new presale token WienerAI as the next meme coin with the potential to explode after its ICO passes the $1 million mark.
WIF and PEPE Dip as Bearish Sentiment Grows
Both meme coins have enjoyed an overwhelmingly bullish sentiment in recent weeks, but doubt has started to creep in as momentum slows.
Currently, Dogwifhat is trading at $2.93, down 11% today, up 26% this week, and down 30% this month.
It holds a $2.9 billion market cap and a $572 million 24-hour trading volume, down 8.7% today.
WIF’s bearish outlook was exasperated when a prominent technical analyst, Bluntz, speculated it could retrace to $1 in the coming weeks.
Bluntz infamously predicted WIF’s retracement from its March 31 all-time high, which added strength to his recent prediction and caused distress for many WIF holders.
“I thought the ABC might be done on $WIF, but since that wick into $1.8, the ensuing price action has been slow, overlapping, and corrective looking. I am now leaning towards this move up being the (B) or (x) wave and a C wave down to $1 still yet to come,” he wrote on X.
Given the accuracy of his last prediction, the analysis has gone viral, with 390K views. This has likely expedited today’s pullback.
However, Pepe holds an arguably less bearish outlook than WIF. It is currently the number one trending crypto on CoinMarketCap and priced at $0.000007893. It is down 7% today, up 28% this week, and up 1.9% this month.
Pepe holds a $3.2 billion market cap and a $591 million 24-hour trading volume, down 36% today.
Indeed, its price has held up better than Dogwifhat’s over the past month, but market sentiment is also more positive. For instance, Plazma suggested that both Pepe and Bitcoin have seen multiple red days, so they are now due for some green days.
Meanwhile, Captain Faibik noted that Pepe has broken out of a bull flag on the daily time frame. Therefore, it is paving the way for a new ATH in the coming weeks.
Another crypto top analysts are backing for strong gains is WienerAI, a new meme coin-AI crossbreed currently undergoing a presale.
Could Revolutionary AI Meme Coin WienerAI Be the Next Crypto to 100X?
Having raised over $1.3 million in its presale, there’s no doubt that investors are paying attention to this new part AI, part sausage dog sensation.
Unlike anything else on the market, WienerAI introduces a cutting-edge trading bot, providing instant, noob-friendly, and MEV-resistant AI predictive trading.
Being MEV-free protects users from getting exploited. Indeed, that is a huge step in the DeFi realm, where MEV bots have continuously skimmed profits from retail traders.
But while it is easy to admire WienerAI’s technological prowess, this project is far from one-dimensional.
In a spectacular display of cultural understanding, WienerAI has packaged its revolutionary technology behind the playful and resonant exterior of a sausage dog meme coin. Therefore, it is aiming to grow a vast community known as its “sausage army.”
As such, WienerAI intertwines the utility of AI crypto with the virality of a meme coin. Subsequently, analysts believe this could spell huge potential. For instance, Jacob Bury speculated that the project could 100x. Moreover, he said that it could be the “best crypto to buy now.”
Adding to the excitement, WienerAI is equipped with a staking layer, providing passive rewards to $WAI holders. Currently, they can garner a 730% APY, but this will decrease as the staking pool grows.
Meanwhile, the WienerAI price will incrementally increase throughout the presale. Therefore, investors looking for the most upside potential must act fast.