In the wake of a 45% pullback from its March highs, investors are asking why the dogwifhat (WIF) price is crashing, with some investors flocking to a fun new AI meme coin Wiener AI (WAI).
The WIF price was last around $2.68, down sharply from its March record highs around $4.86.
The WIF chart suggests that further losses are possible. It is currently trading below its 21 and 50DMAs, suggesting that bears are in market control.
And if it breaks its current upward trend channel, a quick drop back to $2.0 is likely.
As dogwifhat (WIF) threatens a near-term price drop, investors are checking out an exciting new AI meme coin that could be the next big thing. Source: TradingView
The WIF price has crashed from its record highs amid a broader consolidation phase in crypto.
Bitcoin has been stuck in the $60,000s since hitting record highs near $74,000 in March.
Many other altcoins and meme coins have seen much sharper retracements.
WIF could make a strong comeback. With a market cap of around $2.7 billion, gains of more than 5-10x this bull market are unlikely, however.
It’s no wonder that investors are flocking to alternative meme coins with greater upside potential.
One new AI meme coin that analysts at Cryptonews are watching is Wiener AI (WAI).
Currently available in presale, the new AI meme coin WAI could be one of 2024’s best picks. Here’s why.
Here’s Why Investors Are Flocking to New AI Meme Coin Wiener AI
The meme coin market is over-saturated with Shiba Inu-themed coins boasting little to no real utility.
That probably explains why Wiener AI’s presale has attracted such strong demand.
The sausage dog-themed coin offers a suite of AI-powered trading tools and has already raised over $2 million in its presale.
2 MILLION WIENERS!!!!
— WienerAI (@WienerDogAI) May 17, 2024
WAI is not only a meme coin with AI capabilities but also a potential passive income gem.
20% of the supply has been allocated to staking rewards, and investors are currently earning a massive 415% APY, as per the project’s official website.
At this rate, investors can double their initial presale investment in just a few months.
How staking your $WAI feels.https://t.co/g0LrikQz90 pic.twitter.com/3VneRo9wTq
— WienerAI (@WienerDogAI) May 9, 2024
Crypto experts have been lining up to join the Sausage army. Here’s why widely followed crypto analyst Michael Wrubel, who boasts over 312,000 YouTube subscribers, ranks WAI as a top crypto for 2024.
Fellow analysts ClayBro, Crypto Mischief, and Oscar Ramos also expect the new AI meme coin to succeed.
Interested investors need to move quickly, as the WAI price will rise when the presale hits $2.7 million.
At the current price of $0.000709, WAI’s market cap is under $50 million.
How staking your $WAI feels.https://t.co/g0LrikQz90 pic.twitter.com/3VneRo9wTq
— WienerAI (@WienerDogAI) May 9, 2024
If it achieves market leadership, early investors stand to benefit greatly, with a potential for 100x gains or more.
The post Why is Dogwifhat Crashing? WIF Price Tanks 48% as Investors Flock to New AI Meme Coin appeared first on Cryptonews.