What cryptocurrency to buy in June: bitcoin and Pepe in favorites, AiDoge raises over $12 million

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Bitcoin

If users are looking for which cryptocurrency to buy in May to make money, they should take a closer look at bitcoin, Pepe and the latest AI-based development called AiDoge. May is traditionally a month for bitcoin growth. However, this year, the coin continues to show a decline. However, this is a good opportunity to buy bitcoin on the price decline, as most analysts predict BTC to rise to $40,000 in the near future. However, if supporters of digital assets do not have the funds to buy BTC, it is worth taking a closer look at the meme coin sector, which showed active growth at the beginning of the month despite the general market sentiment.

The new meme coin AiDoge attracts $1 million in investments per day. Why it’s being bought

AiDoge is based on the same AI machine learning technology used in ChatGPT and DALL-e. It allows the platform to generate funny and relevant images based on cryptocurrency news and massive databases of memes. At the same time, the project currently has no analogues on the digital market.

To make a meme, the user should buy credits for Ai coins, enter a text prompt. Then the system will process the request and create an image.

AiDoge could become a very popular tool thanks to its simple interface and the ability to convert memes to NFT. All of this combined with the many options for earning money could lead to AiDoge’s cryptocurrency growing in the market and attracting more users.

AiDoge’s platform will feature a “Wall” where users will be able to post their works, vote for others’ works and exchange opinions. Works can be filtered by date or popularity. If a work is liked by a large number of users, its author will receive tokens. Bonuses are also provided for voting.

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The project will also implement a steaking mechanism. It will give users access to additional features and rewards (for example, exclusive content and editing tools).

Key advantages of the project

The product has a number of features. Here they are:

Actual cryptocurrency with artificial intelligence.
Smart contracts protect tokens and user data.
It is possible to earn from memes.
Affordable value at the current presale stage ($0.0000292), which will increase by the time of listing (to $0.0000336).
In just a few weeks, the project has raised more than $12 million, with $1 million of investment coming in just in the last 24 hours.

Pepe – a meme coin inspired by Pepe the Frog

In early May, an Ethereum-based coin called Pepe became the leader of the meme token rankings. It attracted users not only with its character from the meme of the same name, but also with its deflationary mechanism, lack of transaction taxes, and rewards for steaking. The team also managed to list the token on the reputable Binance exchange. This represents a major achievement for a meme coin.

However, Pepe’s value has since plummeted from $0.00000431 to $0.000001251, according to CoinGecko. Market experts speculate that early Pepe investors cashed out their profits by converting their holdings back into Ethereum.

However, this phenomenon is typical for the cryptocurrency segment, so the drop could be a good entry point for those who missed this token. Everything depends on the developers’ further plans.

Bitcoin exchange rate: is it worth buying in May

BTC’s bull run, which lasted since the beginning of the year and reached above $30,000, seems to be over. At the time of writing, the bitcoin exchange rate is $26,375 and shows a 4% drop in a day. A small surge of growth after the announcement of the US consumer price index failed to take hold.

According to experts, we can expect BTC to drop to the $25,000 mark in the coming days. Bitcoin will also decrease in value if traditional risk assets show a decline. Analysts believe that a BTC rate below $23,000 could lead to a further downward slide. However, if the coin rises above $28,500, we can expect the bullish sentiment to return.

The long-term outlook for the market’s main cryptocurrency remains quite optimistic. It is forecast to rise to $40,000 this year, with some analysts promising more sweeping changes in the price.

For example, Kathy Wood – CEO of Ark Invest, a reputable American investment management company – believes that bitcoin could grow to $1 million in the long term.

Conclusion

May’s decline in value could be a good entry point for those who believe in BTC. However, if users are not ready to risk large sums of cryptocurrency investments, they should pay attention to the hype surrounding the meme token market. In May, there was a huge interest in this sector of digital assets. Projects aimed at creating real value for community members performed particularly well. One can come to this conclusion by observing the fall of the Pepe coin, which was not saved by the reward steaking mechanism.

Among meme projects, AiDoge stands out favorably and has no competitors. Unlike Pepe, the project envisions usage scenarios that create a stable demand for the coin. In addition, Ai tokens will grow with every next pre-sale stage regardless of market conditions.

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Author: Saifedean Ammous, an expert in cryptocurrency economics.