The crypto market swung low and memes weren’t exempt. Turbo (TURBO), the first AI meme nosedived, as did Shiba Inu (SHIB), a leading dog-themed cryptocurrency. While a comeback is on the horizon, analysts fear further downswings.
Meanwhile, IntelMarkets (INTL), an emerging altcoin at the intersection of AI and DeFi, keeps bullish hope alive with its explosive growth. It recently entered the fifth ICO stage, approaching its much-anticipated market debut.
IntelMarkets (INTL): New AI Altcoin Keeps Bullish Hope Alive
IntelMarkets (INTL) is the latest on investors’ radars given its AI-DeFi narrative and huge growth prospects. Its solid fundamentals as an AI-powered trading platform further add to its appeal, especially with Turbo (TURBO) and Shiba Inu (SHIB) swinging low.
Amid the growing whale and retail interest, the presale soared past $1.6 million in early funding. The ICO recently entered the fifth stage, inching closer to its debut. Meanwhile, at the current price of $0.045, it presents a low entry for those willing to invest in the future of crypto trading. TIpped for a 65x jump in value after its debut, it is arguably the best new crypto to invest in.
Besides its significant upside potential, its future transformation of the $264 billion crypto trading market makes it a new DeFi project to watch out for. It will be the first to integrate artificial across all trading levels, effectively reshaping the crypto trading scene. Moreover, it will be supported and can run on both the Solana and Ethereum blockchains, hinting at massive adoption.
Turbo (TURBO): 18% Downturn
Turbo (TURBO) is the first memecoin created by AI—GPT-4. It started as a bold experiment but has successfully ushered in a new meme narrative: AI memes. Enjoying the first runner advantage, it exploded after the buzz around AI memecoins.
The Turbo price skyrocketed over 40% in the past 30 days, changing hands above $0.0075. On the yearly chart, it has jumped by over 4,900%, making it one of the best altcoins this year. However, amid the overall market decline and the dwindling interest in memecoins, Turbo (TURBO) nosedived.
It plunged over 18% in the past seven days, while a downswing unfolds on the daily chart. The MACD level (12, 26) at 0.00001996 hints at further downswings. However, the relative strength index (14) at 42.85299855 is neutral, suggesting the coming days will determine whether it will bounce back or continue its decline.
Shiba Inu (SHIB): 4% Decline in the Past 30 Days
Shiba Inu (SHIB) is the second-largest memecoin. The dog-themed cryptocurrency is behind only Dogecoin and ranks ahead of popular names like Chainlink (LINK) and Avalanche (AVAX) on the altcoin list. However, following the market’s recent downswing, it swung low.
With the bears in the driving seat, the Shiba Inu price declined over 4% on the monthly chart, trading above $0.000017. A downswing also unfolds in the shorter timeframes, hinting at a drop in investor confidence—Bitcoin’s downturn hasn’t helped either.
TradingView’s MACD level indicator (12, 26) is at 0.00000001, hinting at a decline and suggesting sell, the same as the Awesome Oscillator, which is at −0.00000024. However, moving averages like the exponential moving average (100)—at 0.00001689—and the simple moving average (100) at 0.00001557 suggest a comeback.
Conclusion
Amid the decline in the prices of Turbo (TURBO) and Shiba Inu (SHIB), IntelMarkets (INTL) skyrocketed, inching closer to its debut. Its 65x upside potential and innovative AI-powered trading platform make it an investor favorite, driving huge demand.
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