Bitcoin and Dogecoin in focus as iDEGEN fires on all cylinders
Artificial intelligence (AI) is reshaping the crypto space and savvy investors are keen on grabbing the integrated opportunities. Investor interest in AI-themed meme coins has soared in recent months, pushing the market’s market cap to $6.74 billion as highlighted on CoinGecko.
Among the AI meme coins on investors’ radar is iDEGEN; the one-of-a-kind social experiment with wild results. With less than two weeks before it hits the public shelves, an overwhelming number of early adopters are amassing $IDGN tokens. The craze is beyond a Bitcoin-led rally, it’s an evolution founded on community and FOMO.
BTC records steady inflows despite crashed reserve dreams
Bitcoin price was subject to profit-taking for the second consecutive session on Thursday after hitting a fresh record high of $108,577.25 earlier in the week. The sell-off saw the top crypto drop below the psychological zone of $100,000 to trade at $99,266.51 as at the time of writing.
On Wednesday, the Fed Chair stated that the US central bank has no interest in building a Bitcoin reserve. Speaking on the matter, Jerome Powell indicated, “we are not allowed to own bitcoin”. His remarks were in response to a query by a reporter on whether he sees value in the US government owning a BTC reserve similar to the US oil reserve.
Even so, Bitcoin’s fundamentals are still strong. Notably, Bitcoin spot ETFs have recorded steady inflows over the past 15 sessions with the cumulative net inflows exceeding $37 billion. The consistent inflows reflect heightened investor interest and a long-term bullish sentiment.
iDEGEN’s craze intensifies ahead of its listing
The crypto space is ever evolving and iDEGEN is here to push the limits. As a groundbreaking project, its appeal lies in its absence of rules, fair pricing model, and the unlimited power accorded to its community.
Similar to other meme coins, the success of this experiment largely lies on its virality. Aware of this principle, its creators has left its development to Crypto Twitter.
Every 60 minutes, the AI agent posts on X, assimilating all the chaos thrown its way by the degens in the form of tweets, tags, and comments. This approach has generated immense curiosity and engagement; prompting sales of over 1 billion $IDGN tokens in less than a month. Subsequently, the project has raised over $7 million since its launch on 26th November.
iDEGEN’s concept of ‘by the community, for the community’ has also been bolstered by its fair pricing model. Potential investors not only want to be part of the project, but they can afford to own a piece of it.
As opposed to the random figures offered by the creators of most meme coins, iDEGEN has ensured its holders get the price they asked for. To do so, $IDGN’s token price drops by 5% if no purchase is made within 5 minutes and rises by 5% if buys are made in two successive intervals of 5 minutes.
Upon its listing on 1st January 2025, the unsold tokens will be destroyed with a 10% premium added to $IDGN’s final presale price. At the time of this publication, the token was up by 921% at $0.201. Learn more about iDEGEN here.
Dogecoin price: Elon Musk is at it again with a $1 prediction
Dogecoin price has dropped by about 35% since 8th December when it rallied to a three-year high. The pullback corresponds with BTC’s profit-taking and easing of the crypto fear & greed index. While the index remains at the greed end of the spectrum, it was at 75 on Thursday compared to the prior session’s 81 and last month’s 90.
In addition to persistent bullish sentiment, Dogecoin price is finding support in Elon Musk’s appointment in the newly formed Department of Government Efficiency. What’s more, the billionaire AI bot, Grok AI, has predicted that the meme coin may hit $1 in early 2025. In the past, remarks by Musk have heightened investor interest and bolstered Dogecoin price.
