Despite impressive strength in recent weeks, prominent meme coins Dogwifhat and Pepe have both struggled today, down 11% and 7% respectively.
However, prominent traders are backing the new presale token WienerAI as the next meme coin with the potential to explode after its ICO crosses the $1 million mark.
WIF and PEPE fall as bearish sentiment grows
Both meme coins have seen overwhelmingly bullish sentiment in recent weeks, but doubt is starting to set in as momentum slows.
Currently, Dog woman is trading at $2.93, down 11% today, up 26% this week and down 30% this month.
It has a market capitalization of $2.9 billion and a 24-hour trading volume of $572 million, down 8.7% today.
WIF's bearish outlook was irritated when a prominent technical analyst, Bluntz, speculated it could return to $1 in the coming weeks.
Bluntz infamously predicted the WIF's retracement from its all-time high on March 31, reinforcing his recent prediction and leaving many WIF holders in trouble.
“I thought the ABC might happen at $WIF, but since hitting $1.8, the subsequent price action has been slow, overlapping and corrective. I am now leaning towards this move up, namely the (B) or (x) wave and a C wave down to $1 yet to come,” he wrote on X.
Given the accuracy of his latest prediction, the analysis has gone viral, with 390,000 views. This likely accelerated today's decline.
However, Pepe arguably has a less bearish outlook than WIF. It is currently the number one trending crypto on CoinMarketCap and costs $0.000007893. Today the price is down 7%, this week 28% and this month 1.9%.
Pepe has a market cap of $3.2 billion and a 24-hour trading volume of $591 million, down 36% today.
The price has indeed held up better than Dogwifhat over the past month, but market sentiment is also more positive. Plasma for example suggested that both Pepe and Bitcoin have had several red days, so there are now some green days coming.
Meanwhile, Captain Faibik noted that Pepe escaped from a bull flag on the daily time frame. Therefore, it paves the way for a new ATH in the coming weeks.
Another top crypto analyst expecting strong gains is WienerAI, a new meme-coin-AI cross currently in pre-sale.
Could the revolutionary AI Meme Coin WienerAI be the next 100X crypto?
After raising over $1.3 million in pre-sales, there's no doubt that investors are paying attention to this new part-AI, part-sausage dog sensation.
Unlike anything else on the market, WienerAI introduces an advanced trading bot that offers instant, noob-friendly and MEV-resistant AI predictive trading.
Being MEV-free, users are protected from misuse. That is indeed a huge step in the field of DeFi, where MEV bots have continuously skimmed the profits from retail traders.
But while it's easy to admire WienerAI's technological prowess, this project is far from one-dimensional.
In a spectacular display of cultural understanding, WienerAI has packaged its revolutionary technology behind the playful and resonant exterior of a sausage dog meme coin. Therefore, it aims to grow a huge community known as the 'sausage army'.
As such, WienerAI interweaves the usefulness of AI crypto with the virality of a meme coin. Subsequently, analysts believe this could offer huge potential. For example, Jacob Bury speculated that the project could take 100x. Moreover, he said it could be the “best crypto to buy right now.”
To add to the excitement, WienerAI is equipped with a wagering layer, which offers passive rewards to $WAI holders. Currently they can achieve an APY of 730%, but this will decrease as the betting pool grows.
Meanwhile, the WienerAI price will increase gradually during the presale. Therefore, investors looking for the most upside potential should act quickly.