Key takeaways
- BTC is trading around the $98k region after losing 7% of its value.
- DOGE risks dropping below $0.30 as it is down nearly 20% in the last seven days.
Dogecoin and other major altcoins underperform
The cryptocurrency market has been underperforming over the last few days, with nearly $300 billion wiped out from the market during that period. Bitcoin, the leading cryptocurrency by market cap, is down 7% in the last 24 hours and now trades at $98,979 per coin.
Meanwhile, Dogecoin has lost 12% of its value since yesterday and risks dropping below $0.30. At press time, the price of Dogecoin stands at $0.3128 per coin. Other major altcoins, including Solana’s SOL, XRP, Cardano’s ADA, and Chainlink’s LINK, are down 10% or more in the last 24 hours.
What is iDEGEN?
The current market correction hasn’t halted investments in new projects. One of the possible biggest upcoming projects on the Solana network is iDEGEN, a project that blends AI and memecoin narratives.
iDEGEN is raising money from investors via a presale as it looks to roll out exciting products and services to its users. It is a meme project that leverages the benefits of AI to create the next billion-dollar memecoin.
In their whitepaper, the team explained that iDEGEN is an AI tool that primarily functions as such. It continuously evolves and adapts by leveraging community feeds on X. While iDEGEN is powered by AI, degens ultimately raise the tool.
The native $IDGN token will power activities within the iDEGEN ecosystem. Furthermore, $IDGN will launch as a memecoin thanks to the massive adoption of this narrative in recent years. Last year, the memecoin ecosystem grew from a $20 billion market cap to $120 billion, representing a 500% growth within 12 months.
The $IDGN launch on exchanges will take place in less than a month and could become one of the best performers once it goes live.
The team pointed out that users feed the iDEGEN tool their data through tweets, tags, and comments. The tool absorbs the post and adds it to its knowledge base; that’s how it learns. Furthermore, iDEGEN posts on X every 60 minutes and can generate and post memes.
iDEGEN’s presale surpasses $18m
As mentioned above, the current bearish market condition hasn’t halted investments in iDEGEN. The presale has entered a new stage after raising over $18.3 million from early investors.
In the current stage, the $IDGN token is worth $0.0146, and its price will increase to $0.0161 in the next stage. In the last presale stage, it will be worth $0.038, giving early investors a massive ROI before the token launches on exchanges.
Once the presale ends, $IDGN will list on centralised and decentralised exchanges. With over 21k holders, the iDEGEN presale continues to attract more investors.
Is the $IDGN token ideal for new investors?
iDEGEN could be a good investment for new investors thanks to the project’s unique value proposition. Presale is one of the best times to invest in a project, and iDEGEN’s presale ends in roughly 30 days.
The project could deliver excellent gains to new investors by combining AI and memecoin narratives. iDEGEN could also gain massive adoption within the crypto world as its tool offers an excellent use case. As an early investor, this project could deliver excellent ROI once the $IDGN token starts trading.
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