A pre-Bitcoin halving of crypto market boom sparked a meme coin rush among investors, but some fared better than others.
This article will provide an analysis of current meme coin price trends and see if a newer AI crypto coin, Scotty the AI, represents a more promising investment opportunity at this time.
This meme coin pump and “old” coin pump brings a lot of retail back to the market.
This is of course positive for prices in general.
But it is also reflexive.
Price rises > retail comes back > retail buys “old” coins that pumped last bull/meme coins etc.
Take notice.
— Miles Deutscher (@milesdeutscher) March 4, 2024
The return of large-scale retail participation in meme coin markets has been highlighted by prominent crypto analysts as a bullish market for the year ahead, with recent pumps for old-school meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB) and Pepecoin (PEPE) highlight favorites for new retail investors.
Dogecoin (DOGE): Top Meme coin makes 102% monthly profit
Legendary token Dogecoin (DOGE) has climbed an eye-popping +86% over the past week amid a massive rejection of 20DMA support.
Now trading at a market price of $0.16 (representing a 24-hour gain of +5.55%), DOGE has delivered an impressive return of +102% over the past month due to its prominent market position as the largest cryptocurrency .
Despite these tempting gains, Dogecoin is showing some signs of rally fatigue on the short time frame, with the RSI indicator seriously overheated at 93.31 – a retracement is clearly called for.
Further challenge comes from Dogecoin’s large market cap, which currently stands at just over $23 billion, suggesting limited growth potential from here.
Shiba Inu (SHIB): Second Biggest Meme Coin Rolls in 190% Monthly Profit
The second largest meme coin by market cap, Shiba Inu (SHIB), has also seen massive price increases this past week, with a whopping +172% increase over the past week.
Now trading at a market price of $0.00002667 (representing a 24-hour change of +18.29), SHIB has seen rapid growth, with a lower market cap than Dogecoin at $15 billion opening the door for bigger gains.
The bullish price movements for SHIB were also fueled by improved sentiment around the high supply meme coin due to the launch of the Shibarium L2 last year.
Still, on the apparent tail end of a skyrocket, Shiba Inu could face downside in the near future due to a major bearish signal on the RSI indicator – reading at a shocking 96.75 – suggesting that price may immediately can tumble in backlash.
And just like Dogecoin, SHIB price action could see growth struggles from here, with a high market cap limiting SHIB’s potential against other meme coin opportunities.
Pepecoin (PEPE): 2023’s Biggest Meme Coin Launch Returns to New All-Time High
Finally, the biggest meme coin launch of last year – Pepecoin (PEPE) – made a resounding comeback that exceeded all expectations to set a new all-time record at $0.05755, bringing weekly gains to a high-octane +447% return.
Now trading at a market price of $0.0575 (representing a 24-hour change of +27.32%, PEPE has delivered an impression of +711% in the past month as retail investors flock to the prominent 2023 breakout token.
With a relatively low market cap of just $3 billion, a 2x return for DOGE would represent a 7x move for PEPE.
However, with price action now trading against the resistance of a new all-time high, traders should be cautious, with the likelihood of a pullback increasing as the RSI indicator moves towards 92.82.
High risk, high return alternative to meme coins? Meet Scotty the AI
While meme coin markets have enjoyed a strong recovery in recent weeks, the coins explored above are far from the only enticing offering on the crypto market, especially with big coins like DOGE facing unwanted market caps.
Recent weeks have also seen significant growth and interest in AI cryptocurrencies, which aim to bridge the gap between decentralized blockchains and artificial intelligence, with markets particularly boosted by the launch of OpenAI’s new video generation service Sera.
One such token that unlocks viral success is SCOTTY, which has a meager multi-million market cap, yet has the opportunity to make it big with the AI narrative.
While meme coins like Shiba Inu have had years to establish their market position and list on exchanges, Scotty the AI (SCOTTY) represents a beacon of opportunity in the crypto market, with viral traction growing due to bullish AI narrative sentiment.
Pre-sale update!
ScottyTheAi #1 #memecoin (w/Ai utility) of 2024$SCOTTY raised $1.9M
Well on its way to closing pre-sales and on its way to that $100 million market cap.
Congratulations to all the early #Scottydogs in pre-sale
Buy now: https://t.co/zRmy4g8hfW#BITCOIN… pic.twitter.com/dhrt5lEeyz
— Scotty The Ai (@ScottyThe_Ai) March 4, 2024
Imagine if you could have invested in Dogecoin before it was ever listed on exchanges? As an early backer you could have amassed a small fortune on price growth – Scotty the AI offers this early bird opportunity.
Considered the “Guardian of the Crypto Universe”, Scotty the AI distinguishes itself not only through its fascinating background, but through its practical applications in the crypto space.
With AI-powered features like Scotty Swap and ScottyChat, this project goes beyond mere novelty, offering tangible benefits and utilities that address real needs in the crypto community.
The AI-powered Scotty Swap ensures safe, efficient token exchanges, optimizing transactions for maximum profits, while ScottyChat offers unparalleled market insights, making it an indispensable tool for both new and experienced investors.
While the roadmap laid out by the Scotty team promises a series of developments aimed at enriching the ecosystem, from community launches and token generation to exchange listings and strategic partnerships, all designed to push Scotty the AI to the forefront of the to drive crypto market. .
Scotty the AI Tokenomics could set the stage for significant price growth – set to outperform Dogecoin and Shiba Inu?
With a significant portion of the total supply allocated to the public sale, the opportunity to participate is ripe, especially given the impressive rewards that highlight the project’s commitment to its community’s growth and prosperity.
According to its website, 30% of Scotty the AI’s total supply (520,370,637) will go directly to the community within the presale.
The remaining 70% of tokens will be split between staking, marketing, ecosystem development and exchange listings.
This indicates that the development team has significant plans for ecosystem growth, with a significant amount of supply designated to attract fresh retail investors to the token, and enhance holder rewards.
For this reason, linking up with Scotty the AI now at this early stage not only provides portfolio diversification, but also puts investors at the forefront of the coming crypto-evolutionary wave, potentially leading to significant returns.
So connect with Scotty the AI on Telegram and X (Formerly Twitter) to keep up with the latest project developments.
Buy SCOTTY Here
Disclaimer: Crypto is a high risk asset class. This article is provided for informational purposes and is not investment advice. You can lose all your capital.
Disclaimer for Uncirculars, with a Touch of Personality:
While we love diving into the exciting world of crypto here at Uncirculars, remember that this post, and all our content, is purely for your information and exploration. Think of it as your crypto compass, pointing you in the right direction to do your own research and make informed decisions.
No legal, tax, investment, or financial advice should be inferred from these pixels. We’re not fortune tellers or stockbrokers, just passionate crypto enthusiasts sharing our knowledge.
And just like that rollercoaster ride in your favorite DeFi protocol, past performance isn’t a guarantee of future thrills. The value of crypto assets can be as unpredictable as a moon landing, so buckle up and do your due diligence before taking the plunge.
Ultimately, any crypto adventure you embark on is yours alone. We’re just happy to be your crypto companion, cheering you on from the sidelines (and maybe sharing some snacks along the way). So research, explore, and remember, with a little knowledge and a lot of curiosity, you can navigate the crypto cosmos like a pro!
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