- Dogwifhat plunges alongside the broader crypto downturn.
- WIF investors are taking profits and centralized exchange reserves are declining.
- iDEGEN could emerge as the leading meme coin in 2025.
The popular meme coin Dogwifhat (WIF) has suffered a sharp decline, slipping below the key $2 support level to around $1.70. This drop, which was part of a broader pullback across the crypto market, coincided with investor withdrawals and a decline in centralized exchange (CEX) reserves.
Amid WIF’s downturn, attention is turning to iDEGEN ($IDGN), an AI-driven meme coin that some speculate could become the next big name in the meme coin space in 2025, particularly as its presale concludes this month.
Dogwifhat falls below $2 after a bearish flag forms
Dogwifhat’s price has tumbled nearly 20% over the past 48 hours, triggering concern among holders. The two-day slide erased the meme coin’s gains from the prior week, pushing the price down from above $2.10 to approximately $1.70 at the time of writing.
The decline has prompted profit-taking among large holders: one top holder realized $10.8 million in gains while unloading WIF positions worth $2.4 million, according to Nansen’s PnL Leaderboard data.
This selling pressure is reflected in significant outflows from exchanges — WIF tokens saw roughly $24.1 million moved off exchanges in the past 24 hours — suggesting some investors may be preparing for a potential rebound if market conditions stabilize.
Despite the recent drop, Dogwifhat, which began as a playful project on the Solana blockchain and rode the wave of dog-themed memecoins like Dogecoin and Shiba Inu, has recorded an astounding cumulative rise since launch. That dramatic price performance underscores the volatile and speculative nature of meme tokens.
WIF’s current market capitalization of about $1.77 billion and trading volume near $357.8 million indicate that the token remains actively traded, even as the market shows clear signs of stress.
Technical indicators currently look unfavorable for WIF: bearish flag patterns and double-top formations suggest further downside is possible unless there is a meaningful shift in market sentiment.
Could iDEGEN become the next meme coin king?
As Dogwifhat struggles, the crypto community is turning its gaze to iDEGEN ($IDGN), an AI-driven memecoin that positions itself as more than a token—an evolving entity shaped by its community.
Launched with a presale that has already raised more than $14.8 million, iDEGEN uses a dynamic auction mechanism that reflects market interest in real time, making each purchase influence the token’s future price and development.
The IDGN price updates every five minutes based on purchase activity: a single purchase leaves the price unchanged, consecutive buys cause a 5% increase, and inactivity for a cycle results in a 5% price decrease.
That presale, closing later this month, has attracted attention for its novel approach to token distribution — an approach that could help iDEGEN make significant waves in 2025.
Unlike WIF, which primarily rode meme culture, iDEGEN adds an AI dimension that learns from its community on social platforms, tweet by tweet.
Although iDEGEN briefly faced a temporary restriction on X, which is expected to lift soon, the project’s AI growth is community-driven and aims to blend entertainment, speculation, and technological innovation.
By removing direct human intervention from the learning loop, iDEGEN’s unpredictability becomes part of its appeal, offering a narrative that could capture the crypto world’s imagination much like WIF did at its peak.
As the presale approaches its end, excitement around iDEGEN centers not only on potential financial returns but also on participating in something experimental. Supporters aren’t just buying a token; they’re helping raise an AI, shaping its personality and watching it evolve.
That sense of ownership and engagement could propel iDEGEN to new heights and position it as a prominent meme coin contender heading into 2025.
However, as with all cryptocurrencies — and especially meme-driven projects — the path forward is uncertain and can be highly risky. Investors should conduct thorough due diligence and consider their risk tolerance before participating.