Dogecoin and Shiba Inu Fall but Some Traders Look Into Mind of Pepe to Beat the Crypto Dip
It’s been a tough few days for Dogecoin and Shiba Inu investors.
Both coins have suffered losses as traders rotate out of high-risk assets and into safer plays.
However, some traders continue to flock to the MIND of Pepe ICO – believing it has the potential to defy the bearish momentum.
DOGE and SHIB Crash to Multi-Month Lows as Meme Coins Sell Off
DOGE and SHIB are struggling, caught in a broader market downturn that has hit meme coins hard.
Dogecoin is now trading at $0.16 – its lowest level in five months.
The coin has lost 30% of its value in just the past seven days, and open interest has also dropped to its lowest level since late October.
Sellers are running the show right now, and there’s little sign of bullish momentum returning anytime soon.
Shiba Inu isn’t faring much better.
SHIB is hovering around $0.000012, having also taken a massive hit over the weekend.
It managed a slight rebound overnight, but that relief was short-lived – its price is already dipping again.
But it’s not just DOGE and SHIB in freefall – almost all meme coins are down.
The only exception is PENGU, which has eked out a slight gain.
Traders seem to have lost their appetite for meme coins, and many are looking for fresh opportunities in other sectors.
Why Are Meme Coins Tanking? Key Catalysts Impacting Trader Sentiment
The meme coin sell-off is part of a broader market slump that’s dragging down riskier assets.
Tariff tensions, a lack of bullish news from the White House, and uncertainty over interest rate cuts have all hurt crypto this week – hitting coins like DOGE and SHIB the hardest.
Without new catalysts, traders are hesitant to get into meme coins, leading to a wave of selling pressure that’s pushing prices lower.
But while sentiment is bleak right now, some believe meme coins might be nearing a bottom.
Historically, when the market is in “Extreme Fear” mode, like it is now, there have been sharp reversals shortly after.
And with DOGE at five-month lows, there’s certainly a case for a bounce.
However, where DOGE and SHIB go from here will largely depend on what Bitcoin and the top altcoins do.
If Bitcoin starts to gain strength, meme coins could follow suit, as they tend to thrive in risky environments.
But if BTC remains stuck below $85,000, DOGE and SHIB might continue to struggle.
MIND of Pepe ICO Passes $7M as Traders Rotate Into High-Potential AI Meme Coin
One meme coin that’s defying the downturn is MIND of Pepe.
This project has continued to attract attention, mainly because of its mix of AI technology and meme culture.
MIND of Pepe offers a self-evolving AI agent designed to track market trends, analyze sentiment, and even launch new tokens on its own.
This forward-thinking approach has helped it raise $7.1 million in its ICO so far.
One of the most significant signs of growing hype came yesterday when top YouTuber Goalorious released a video discussing MIND of Pepe’s potential.
He highlighted the project’s huge staking rewards (estimated at 314% APY) and the fact that it has already been audited for security.
Goalorious also noted that the MIND supply is fixed at 100 billion tokens – preventing inflation.
His endorsement has gone down well with the MIND of Pepe community.
The project’s X (Twitter) page now has over 20,000 followers, which is impressive for a meme coin project that has yet to go live.
MIND of Pepe has also been ranked third on ICOBench’s list of upcoming crypto launches to watch.
For traders looking beyond Dogecoin and Shiba Inu, MIND of Pepe appears to be a tasty alternative.
It could be among the few meme coins that thrive in this bearish market.
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