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The rise of Dogecoin and Shiba Inu gave rise to the memecoin frenzy. Being the first movers of memecoins, Dogecoin and Shiba Inu have gained massive popularity among crypto-savvy investors.
The coins also sparked a wave of supporters identifying themselves on social platforms such as Twitter and Reddit.
However, the memecoin hype has since died out. Shiba Inu is down 72% from its all-time high, while Dogecoin is down 92%.
As the two struggle for market dominance, Avorak AI brings a new light to the crypto ecosphere by integrating blockchain technology and Artificial Intelligence.
Could Shiba Inu Reach $1?
This question has been asked for a long time since the peak of the memecoin at its all-time high. From a theoretical point of view, it seems impossible for the token to appreciate to $1.
From the burning mechanism, assuming all factors remain constant, the Shib Army community would be required to permanently remove 99.9998% of the token’s total supply from existence to increase its demand past the $1 mark.
With no burning feature, the token must acquire a market cap larger than the top three crypto assets to reach 1 cent.
Dogecoin’s Era is Over
Dogecoin’s success can be associated with effective and efficient marketing campaigns. Outside that, Dogecoin is just a memecoin, a crypto asset class well known for pure hype and no real-world utility.
Although the crypto asset can be used as an exchange of value, many consider it a ‘meme’ and, therefore, very unlikely that it would be used as a currency anytime soon.
Tesla founder and Billionaire Elon Musk spearheaded Dogecoin’s massive hype through a series of tweets and interviews. However, despite the hype, Dogecoin has significantly lost most of its value.
Avorak AI is the Future; Dogecoin and Shiba Inu cannot Compete
The era of memecoins seems to be over. Dogecoin and Shiba Inu have shown a good run in the previous bull cycles by rewarding investors with massive gains. Avorak AI is changing the future and hence a more lucrative deal for investors compared to coins driven by hype.
Avorak is bringing artificial intelligence to the world, a technology desperately needed to make work easier. AI systems are already roaming the software world with massive potential to disrupt almost every sector.
Through the Avorak AI ecosystem, investors can participate in delegating human tasks to artificial intelligence. Some advantages associated with Avorak AI include reduced time requirements for creative tasks, auto-generation of texts and images, and automated AI-controlled trading, among other tasks that will eventually be implemented along the way.
Concerning automated text generation, Avorak proves to be a better AI-powered tool. Unlike other AI text generators, the feature will automatically generate plagiarism-free text. The tool will have an inbuilt API that automatically corrects spelling, grammar, and plagiarism.
Investors can participate in this new virtual phenomenon by purchasing the AVRK token, which is intended to be the main driver of the ecosystem. The token has a maximum supply of 40 million tokens and is currently in pre-sale phase 7.
Although the token has a maximum supply, it also has a deflationary mechanism that will ensure the token supply reduces over time. 2% of the total revenue will be directed specifically to the burning feature to ensure AVRK remains deflationary. This will allow investors to benefit as the token appreciates due to reduced supply and an alternate increase in demand.
Conclusion
AI is the next hype in the cryptocurrency market. While memecoins like Shiba Inu and Dogecoins have flopped due to lack of utility, Avorak AI has the potential to stay relevant among crypto-savvy investors and traders. The project aims to capitalize on blockchain technology and artificial intelligence to perform activities on behalf of humans. Investors can take part in the growth of the infrastructure through the purchase of AVRK tokens.
Get more on Avorak Trade on:
Website: https://avorak.ai
Buy AVRK: https://invest.avorak.ai/register
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