The rise of the crypto market, prior to The Bitcoin halving: the halving, unleashed a fever for Meme Coins among investors, with some of them presenting a superior performance than others. Thus, the current trend in the prices of the Memes and could shed light on whether the new cryptocurrency powered by artificial intelligence, Scotty the AIrepresents a more promising investment opportunity at this time.
The return of participation massive retail markets on Meme Coins has been highlighted by prominent crypto analysts as a bull market for 2024, with recent increases in former Meme Coins such as Dogecoin (DOGE), Shiba Inu (SHIB) and Pepeccoin (PEPE) standing out as favorites for new retail investors.
Dogecoin (DOGE): Top Meme Coin Surges 102% MoM
The emblematic token Dogecoin (DOGE) records an impressive increase of +86% in the last week, amid a large-scale bounce from 20DMA support.
Currently, it is trading at a market price of US$0.16 (which represents a profit of +5.55% in the last 24 hours), DOGE represents an impressive return of +102% in the last month due to its outstanding position on the market as the largest cryptocurrency.
Despite these attractive profits, Dogecoin shows signs of fatigue in its rally on the short time framewith the RSI indicator severely overheated on 93.31, which clearly demands a retraction.
Furthermore, an additional challenge is presented due to the enormous market cap of Dogecoin, which currently exceeds the u$d23 billionsuggesting limited growth potential from this point.
Shiba Inu (SHIB): the second biggest meme
The second largest meme coin by market capitalization, Shiba Inu (SHIB), It also experiences huge price increases in the last week, with a surprising increase of +172% in the last week.
Currently trading at a market price of US$0.00002667 (with a change of +18.29% in the last 24 hours), SHIB is experiencing rapid growth, with a market offer lower than that of Dogecoin by US$15 billionopening the door to greater profits.
SHIB’s bullish moves have also been fueled by improved sentiment around the meme coin in high supply due to the launch of Shibarium L2 last year.
However, it seems, at the end of a spectacular rise, Shiba Inu could face downside in the near future due to a major bearish signal on the RSI indicatorwhich stands at a surprising 96.75, suggesting that the price could imminently fall into a pullback.
Pepecoin (PEPE)
Finally, the biggest meme coin release of last year, Pepeccoin (PEPE), achieved an impressive comeback that defies all expectations by registering a new all-time high at $0.05755, carrying weekly profits to a high-octane +447% return.
Now trading at a market price of $0.0575 (with a change of +27.32% in the last 24 hours), PEPE boasts an impressive +711% in the last month, as retail investors flock to the prominent 2023 token .
One of those tokens that achieves viral success is SCOTTY, which has a modest market capitalization of several millionbut it offers the opportunity to achieve great success with the artificial intelligence 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 on the rise due to bullish sentiment in the AI narrative. With a comparatively low market cap of just $3 billion, a 2x return for DOGE would represent a 7x move for PEPE.
However, with the price action now trading against the resistance of a new all-time high, traders should exercise caution as the probability of a pullback increases as the RSI indicator moves towards 92.82.
Scotty the AI: everything you need to know
While the markets for meme coins have enjoyed a strong recovery in recent weeksthe coins explored above are far from the only attractive offering on the crypto market, especially with major coins like DOGE with undesirable market capitalizations.
Recent weeks have also seen significant growth and interest in AI-powered cryptocurrencies, that seek to close the gap between decentralized blockchains and artificial intelligence, with markets especially boosted by the launch of OpenAI’s new video generation service, Sera.
Now, the question is if you had invested in Dogecoin before it was listed on the exchanges. As an early investor, you could have built up a small fortune from price growth. Scotty the AI offers this early investment opportunity.
With AI-powered features like Scotty Swap and ScottyChat, This project goes beyond mere novelty, offering tangible benefits and utilities that address real-world needs in the crypto community.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
