- Investors are shifting away from meme coins like Book of Meme (BOME) and PEPE due to their volatile nature and lack of practical utility.
- Algotech’s ALGT token, priced at $0.08 in its presale, attracts investors seeking long-term value.
- With over $3.6 million raised in its presale, Algotech aims to revolutionize DeFi by leveraging AI and machine learning to automate trading strategies.
The cryptocurrency space is full of innovations, but it also has its share of fads. Memecoins were a defining aspect of the 2021 bull run, based on the fleeting popularity of social trends and online jokes. However, as the market develops, seasoned investors are looking for initiatives that have practical uses and long-term benefits. Despite the high-profit margin meme coins can produce in a short period, this shift in focus is leading some investors away from meme coins like Book of Meme (BOME) and PEPE, and towards promising presales like Algotech’s ALGT, currently priced at $0.08.
Meme coins like BOME and PEPE capitalize on the power of social media and online communities. Their fun vibe and connection to viral memes on the internet can draw in a sizable, devoted fan base. This frequently results in sharp price increases that lure in new investors looking to make quick money.
Memecoins generally have no practical applications or intrinsic value. Their success mostly depends on sustaining the hype in the community, which is sometimes infamously erratic. The coin’s value will collapse if investor interest in the meme wanes.
For example, Pepe’s (PEPE) trading volume was $792,043,383 in the last 24 hours, representing a -20.60% decrease from April 1, 2023, and signaling a recent fall in market activity. As of March 14, 2024, PEPE recorded its highest price point at $0.00001064. When compared to the all-time high price, its current price at 0.0000072 is 32.01% less than its all-time high. This shows the very fluctuating nature of meme coins.
As time goes by, astute investors are realizing the limitations of meme coins. They appear to be looking for initiatives that address pressing issues and provide tangible results. This has contributed to the growth of utility tokens, which grant users access to specific platforms or services within a blockchain ecosystem.
Algotech’s ALGT token stands out as a prime example of a project attracting investors seeking value beyond social hype. Built as an ERC-20 token, ALGT is the fuel that powers Algotech’s ecosystem, a decentralized crypto algorithmic trading platform that makes trading at a high frequency with highly sophisticated trading algorithms possible for traders of every kind.
Algotech aims to revolutionize the world of DeFi by eliminating the major setbacks of manual trading within the crypto markets like biases, emotions, late awareness, missed entries, etc., and replacing them with highly complex algorithms that employ artificial intelligence, machine learning, and big data analysis to accurately analyze market data and implement automated strategies that best maximize the market analysis per time.
ALGT is currently priced at $0.08 in its ongoing presale. With over $3.6 million generated in a few weeks of presale, ALGT appears to have secured a sizable amount of investors’ attention. ALGT promises to go with a price of $0.15, which brings back memories of BNB, which went live at the same price during its ICO. BNB is currently trading at $556.62, showing the potential of what could be should the stars align for ALGT.
To learn more about Algotech, visit the Algotech presale website or join the Algotech community.
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