Pepe and Bonk prices slump as new memecoin WienerAI raises $5.5m

Despite market stability, Pepe and Bonk struggle while WienerAI gains momentum, raising $5.5 million.

Pepe and Bonk have struggled today despite the broader crypto market stabilizing. Currently, Pepe is down 3%, while Bonk is down 6%. However, other projects continue to show impressive growth, with the new AI-memecoin hybrid WienerAI gaining pace as its total raise hits $5.5 million.

Pepe and Bonk struggle as memecoins slide

Meme coins have endured relentless selling pressure today in a continuation of this week’s bearish momentum. And after a strong month, Pepe’s price has shown significant cracks, down 3.3% today and 14% this week.

Pepe is currently trading at $0.0000126 with a $5.2 billion market cap and a $1.2 billion 24-hour trading volume. Analysts are overlooking its recent selloff and anticipate a continuation of its higher-time-frame uptrend. 

Prominent commentator Vegeta notes that Pepe is currently trading within a consolidation zone but alludes that a breakout is coming. According to the analyst’s chart, the next bullish wave could propel Pepe by almost 50%.

In a similar fashion to Pepe, Bonk has faced significant adversity recently. It is currently priced at $0.00002715, down 6.1% today and 18% this week.

Bonk currently holds a $1.8 billion market cap and a $376 million 24-hour trading volume. But despite its bearish momentum, analysts also remain optimistic about Bonk’s higher-time-frame outlook.

“Macro bullish trend is still intact on the BONK 3 day using EZTREND,” wrote WebTrend Analytics. This indicates that the analyst expects an uptrend continuation for the Solana-based memecoin.

The recent bearish momentum is not confined to Pepe and Bonk. Meme coins like Shiba Inu, Dogwifhat, and Floki are also deep into the red this week.

However, other crypto asset classes have prevailed while the memecoin market slides. The most prominent is AI cryptos, with projects like Injective Protocol, Render, SingularityNET, and Fetch.ai all rallying today.

There has been a perpetual push-pull between memecoins and AI cryptos in 2024, with one pumping while the other consolidates.  In recent months, memecoins have taken center stage, but it now seems that AI is regaining pace as prices rise over recent days.

With that in mind, investors may be pleased to learn about WienerAI, a new hybrid project that encapsulates both narratives. It is currently undergoing a presale and has raised $5.5 million so far. Let’s take a closer look.

WienerAI raises over $5.5m through presale

While its dog-themed exterior has caused a buzz among memecoin enthusiasts, WienerAI’s underlying AI technology is turning heads in the broader crypto market.

The project’s underlying premise is a cutting-edge trading bot that scours the market for the best trading opportunities based on user prompts. It also grants users seamless trade execution that is instant, fee-free, MEV-resistant, and noob friendly.

So, by harnessing AI, WienerAI is making its users better traders while tackling the perplexing difficulties of on-chain transacting. The project’s $5.5 million total raise reflects a nod of approval from investors, but leading industry analysts are also on board.

In a recent video, the Cryptonews YouTube channel suggested the project could 100x after its exchange launch. Alongside its captivating use case, the video highlights WienerAI’s early momentum as another reason for its high potential.

Positioned at the crux of crypto’s two hottest narratives, WienerAI’s hybrid use case has enabled continued success amid the high-octane market developments.

Prospective investors can buy WAI at presale for $0.000718. However, this price will gradually rise as the campaign progresses. The next uptick will be in two days or when the total raise hits $5.9 million.

To learn more, visit the WienerAI presale.