Dogecoin And Shiba Inu Prices Slide – Time To Sell? Traders Are Buying These New Meme Coins Instead

After starting strongly in 2023, Dogecoin ($DOGE) and Shiba Inu ($SHIB) plunged in the past few months and continue to slide in line with the wider market. DOGE is now down over 5% in a week, with SHIB having slipped over 6%.

Due to the volatility prevalent among these top meme cryptos, investors are looking at other investments in the same niche that present better opportunities for profits in line with recent examples like Pepe.

Let’s take a look at DOGE and SHIB’s prospects, whether it’s time to sell, and why traders are backing Wall Street Memes and AiDoge to be the next big meme coins.

Dogecoin and Shiba Inu Continue to Plunge – What Next?

After a long bear run throughout 2022, the top crypto tokens have shown strong signs of revival in 2023. Some of the biggest meme tokens, Shiba Inu ($SHIB) and Dogecoin ($DOGE), also started strongly. 

For instance, $DOGE soared from the $0.07 level in January 2023 to $0.096 by April. This equates to a price increase of more than 37%. $SHIB offered even higher returns, as it managed to soar by over 82% from the beginning of January to February 2023. 

However, these two popular meme tokens plunged following the upward movement. Dogecoin has corrected from the $0.096 mark to a live price of $0.068 per token. This equates to a correction of nearly 30%. The price drop has taken the token below the January levels. In the last 7 days, the token is down by 5%. Year-on-Year (YoY), $DOGE has corrected by 15%. 

As for Shiba Inu, the token has dropped by 45% since its yearly high of $0.0000147. Currently priced at $0.0000079 per token, $SHIB is down by almost 6% in the last week. Due to the high volatility that these two meme tokens are facing, there is no guarantee of when they will offer higher returns.

With both the tokens boasting a combined market cap of more than $13 billion, investors may want to acquire new meme tokens, which could potentially offer higher growth potential. Therefore, the sections below will analyze two new meme tokens which may explode in the next few years. 

Wall Street Memes – A Social Media Driven and 100% Community Token, $WSM Has Raised Over $5 Million on Presale 

One of the top alternatives to the established meme cryptocurrencies is Wall Street Memes ($WSM). In May 2023, Wall Street Memes launched its native token, $WSM, on presale and has raised over $5m in less than two weeks.

This meme platform has developed a loyal community base, with over 1 million followers across social media platforms like Twitter and Instagram. Elon Musk has even interacted with it on Twitter. A token developed for the community, 100% of the $WSM token supply will be distributed to token holders. 

From a 2 billion token supply, 50% has been allocated for the ongoing presale. 30% of the supply will be distributed as community rewards. The remaining 20% will be allocated equally to maintain CEX and DEX liquidity. 

Traders such as Jacob Crypto Bury have shared their views on $WSM, claiming it can be the next 10x meme cryptocurrency. 

Currently, the $WSM token is priced at $0.0277. By the end of the presale, the price will increase to $0.0337 per token. While Wall Street Memes does not offer any utility, it has established a large meme movement, which gives it an edge over other meme tokens. 

The project has already raised over $5 million and looks to raise a hard cap of over $30.5 million by the end of the presale. To stay updated with the presale and the new developments, join the Wall Street Memes Telegram channel.

Visit Wall Street Memes Presale

AiDoge – An AI-Based Meme Generating Token, Raising Nearly $15 Million on Presale 

Another new meme coin being backed by traders to explode is AiDoge, which leverages artificial intelligence to offer a meme token that provides real utility to the user. $AI has emerged as one of the top presales in 2023, raising $14.9 million across its initial coin offering. 

On June 19th, 2023, the $AI token will be listed at $0.0000336 per token. AiDoge allows users to stake $AI tokens to earn credits on its ecosystem. Credits are used to generate memes automatically on the ecosystem’s AI-powered meme generator. 

By staking the token, users can generate daily credit rewards and access new meme templates and platform enhancements. AiDoge leverages AI tools such as Natural Language Processing (NLP), which automatically processes text-based prompts to generate memes. 

The AiDoge whitepaper states that the memes can all be shared on a public wall. A voting mechanism will be introduced in the future, allowing users to upvote and downvote memes. The users who receive the highest upvotes will earn free $AI tokens at the end of every month. 

By targeting two popular crypto niches – artificial intelligence and memes – AiDoge has achieved its presale goals. Thus, many will be looking to acquire the token once the exchange listing takes place. 

While 500 billion of AiDoge’s 1 trillion token supply were allocated for the presale, a further 125 billion tokens are reserved for liquidity and listings. Join the platform’s Telegram channel for regular project updates. 

Visit AiDoge

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