Memecoins Surge Despite Crypto Market Downturn
The broader crypto market may be slumping, but memecoins are enjoying a surprising rally. Over the past week, Dogecoin (DOGE) and Shiba Inu (SHIB) have gained more than 18%, outpacing many major cryptocurrencies.
According to Kraken, DOGE was trading at $0.202, while SHIB held at $0.0000152. Their respective market capitalizations now stand at $30 billion and $9 billion.
Dogecoin Climbs, But AI Predicts Pullback
Dogecoin recently leapfrogged Cardano (ADA) to become the 8th largest crypto by market cap. However, artificial intelligence forecasts a short-term reversal for DOGE.
Intellectia AI, a financial analytics platform, predicts that DOGE could drop 11.28% to around $0.155 in early April. CEO Fei Chen attributes this to weakening short-term fundamentals, despite strong community engagement.
SHIB Shows Stronger Fundamentals and Utility Growth
Unlike Dogecoin, SHIB is projected to continue climbing. Intellectia AI forecasts an 8.61% rise for SHIB, targeting $0.0000143 by April.
Chen noted SHIB’s growing utility through its Shibarium network and decentralized finance (DeFi) ecosystem. Technical signals and increased token burn activity are fueling investor confidence in the meme-based crypto.
Other Memecoins See Impressive Weekly Gains
The memecoin wave has lifted more than just DOGE and SHIB. Pepe (PEPE) surged 20% this week, reaching $0.058927. Bok (BOK) jumped over 35%, now trading at $0.00001479.
Fartcoin and SPX6900 saw even more dramatic gains, climbing 84% and 63% respectively, trading at $0.6096 and $0.6468 as of writing.
Market Speculation and Community Hype Drive Volatility
The crypto market, especially among meme assets, remains heavily sentiment-driven. Community hype, social media buzz, and speculative trading continue to influence price movements more than traditional fundamentals.
DOGE’s and SHIB’s recent spikes are clear examples. Even with AI-backed forecasts suggesting divergence, their loyal communities may fuel further price action—up or down.
AI Tools Gain Traction in Crypto Forecasting
Platforms like Intellectia AI are becoming key players in market prediction. By analyzing vast datasets and technical indicators, they provide nuanced forecasts in volatile sectors like crypto.
Still, experts urge caution. AI models may offer insights, but unpredictable market behavior and social sentiment remain major variables in crypto investing.
What’s Next for Crypto Traders?
For now, memecoins are leading the charge in a bearish crypto landscape. Whether AI predictions hold or not, traders will closely monitor DOGE and SHIB in early April.
As always, volatility defines the crypto market. Investors are advised to stay informed, diversify holdings, and avoid making decisions based solely on short-term trends.