As Pi Network faces backlash over insider token sales and Dogecoin wrestles with mixed signals from Elon Musk and institutional interest, one little-known altcoin priced at just $0.0051 is quietly gaining ground.
Pi coin has been causing controversy yet again, as around 102M Pi Network coins have been sold on Gate.io this week, apparently from an insider wallet. While some have maintained that this is necessary, to help Pi with funds to launch its mainnet, others have been less happy.
Pi Network coin was previously given away to people ‘mining’ on their phones. But the mining wasn’t proof of stake or proof of work, or any other kind of mining.
Rather, it seems to have been more of a marketing gimmick to collect user phone numbers, names, IDs, and other private data. The Pi Network team didn’t make it clear that people needed to save their seed phrase as well as input their data, so many, who have now lost their wallet, have been unable to sell their Pi.
Still, the Pi team did finally deliver and list on exchanges. Naturally, the price dropped massively, since the coin has little to no utility.
The recent 102M coin sale caused the price drop again, falling briefly to $0.74, before rebounding slightly to $0.76. That’s a far cry from the all time high of $2.99 in Feb this year.
Additionally, over 200 million coins are set to unlock over the next 30 days, which will cause more selling pressure. If the mainnet is truly useful, though, things may change in the future.
Pi is down over 20% on the weekly charts.
Crypto’s oldest memecoin could be going institutional, as 21Shares recently filed for a spot ETF on the Nasdaq. But The Guardian cites marketing expert Scott Galloway in saying that Elon Musk’s D.O.G.E has been ‘one of the greatest brand destructions’.
Galloway was not talking about Dogecoin, but rather referring to the governmental organization, which was, ostensibly, named after Musk’s ‘pet’ crypto DOGE. However, some might argue that the same applies to the coin.
Dogecoin initially soared upon the announcement of the DOGE or ‘Department of Government Efficiency’, but the huge cuts have been very unpopular with the Tesla demographic. Similarly, Musk soon fell out of favor with Trump, and the Dogecoin price also fell dramatically. But since the recent all-time highs of Bitcoin, it seems Dogecoin is on the way up.
And, presumably, the Tesla demographic is different from the crypto demographic, since many DOGE and Musk-themed coins are in the green right now.
According to CCN’s Valdrin Tahir, Dogecoin’s price might be showing signs of a breakout from an accumulation phase, with indicators such as the RSI and MACD indicating bullish momentum.
Tahir explains that as long as Dogecoin holds above the key support level of $0.225, the broader trend appears favorable.
Should this level continue to act as a price floor, the next potential upward target for DOGE lies near the $0.348 resistance zone.
The Unilabs team had an aha moment when looking at the potential of AI and the plight of investors, overwhelmed by so many coins and ways to trade. What if AI could be used to make decisions about what coins to invest in, and how and when?
That’s how they came up with their proprietary AI algorithms, which track the market for new memecoins, new utility coins, and new projects. The AI checks various signals, from technical to community engagement, and then passes any with good potential to a human team for further due diligence.
Another staple feature of Unilabs AI is the funds that it has created, one in BTC, one in AI, another in RWAs, and another in Mining. This makes Unilabs crypto’s first AI hedge fund manager.
Unlike humans, the AI isn’t moved by emotion, FUD, or FOMO. But the team is hoping to create some FOMO by offering their token at very low prices, in a presale structure. The UNIL token, which also grants early buyers benefits such as priority access to their launchpad, is available for sale at $0.0051. Experts predict that significant gains are possible for this coin, given the protocol’s innovative idea and strength.
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