ArbDoge Price Prediction After 1,000% Surge While Love Hate Inu Aims for $10m
ArbDoge AI (AIDOGE) has been making waves over the past few weeks, producing returns of more than 1,000% for early recipients of the project’s airdrop.
The topical combination of artificial intelligence (AI) concepts and cryptocurrency has sparked tremendous interest in ArbDoge AI from retail investors – leading to the price increases seen since mid-April.
Given the tremendous hype around ArbDoge AI, many investors hope other new meme coins, like Love Hate Inu, will benefit from the ongoing bullish sentiment.
ArbDoge AI Making Waves with 1,000% Returns
As its name suggests, ArbDoge AI is a cryptocurrency that combines several trending topics that have been all the rage on social media over the past few weeks.
The project’s name includes nods to Dogecoin, artificial intelligence, and Arbitrum – the popular layer-2 scaling solution for Ethereum.
Arbitrum is the network that ArbDoge AI is built on. Designed as a sort of "experiment," ArbDoge AI looks to highlight the benefits of the Arbitrum network to retail investors while also capitalizing on the enormous opportunities presented throughout the AI sector.
Unlike other crypto projects, ArbDoge AI has no development team shares or venture capital input. Instead, all of ArbDoge AI's native tokens, called AIDOGE, will be distributed fairly to the community.
These tokens are currently being given to eligible community members through the ArbDoge AI website. This setup began on April 15th and will last until May 15th – although it could end sooner if eager investors snap up the token allocation.
At the time of writing, over 80% of the allocation has been snagged, meaning those eligible only have a limited time left to get involved.
Given that ArbDoge AI's team has already laid out plans for a staking protocol, an AI-focused NFT collection, and a new token called "AICODE," many community members believe claiming AIDOGE tokens through this unique process could prove fruitful in the long term.
Crucial Resistance Level Poses Problem for AIDOGE’s Momentum
According to CoinMarketCap, ArbDoge AI now has a market cap of over $60 million – with more than $56 million worth of AIDOGE being traded in the past 24 hours alone.
This highlights the colossal momentum behind the project – but can ArbDoge AI sustain this in the weeks ahead?
As can be seen on the price chart, it's been smooth sailing for token holders since distributions began in April. The AIDOGE price skyrocketed in the days following the initial issuance, hitting an all-time high of $0.000000000376 on April 19th.
Price did pull back significantly from this area in the days following the all-time high; however, this bearish momentum was short-lived. Since April 21st, the AIDOGE price has been on a consistent uptrend, printing higher highs and higher lows on the 1H timeframe.
Since there’s currently less than two weeks’ worth of price data, the technicals are still relatively undefined. However, AIDOGE does appear to be creating an ascending channel pattern on the 1H chart, with multiple rejections of the lower boundary.
In terms of resistance, bulls must be cautious of the $0.00000000033 level, which has been rejected twice in the past 24 hours. This level is also roughly the same area that AIDOGE fell from after printing all-time highs on April 19th.
Assuming AIDOGE can break above this resistance level, either through a solid 1H or 4H candle, then that will likely confirm the upside move. This would be uncharted territory for AIDOGE, so there's no technical basis for providing a price prediction.
However, bearish investors also point to the ongoing "squeeze" occurring on the 30M timeframe. This tight candle formation usually appears before an explosive breakout – which may be to the downside, given the nearby resistance level.
If AIDOGE does break to the downside, then the price will likely head back to support at $0.00000000013. Ultimately, even if this scenario plays out, it will still provide another opportunity for optimistic investors to buy AIDOGE at a discount relative to its previous highs.
New Meme Coin Love Hate Inu Looks to Capitalize on Investor Sentiment
Regardless of how the technicals look, the buzz around ArbDoge AI continues to build – and has also prompted investors to consider other tokens that leverage the incredible power of the “meme coin” niche.
One token that investors are clamoring to buy is Love Hate Inu. This cutting-edge crypto project has captured retail investors’ attention – much like ArbDoge AI has.
Love Hate Inu is still in its presale phase, which has been a massive success since launching in early March. At the time of writing, this presale has amassed over $6.5 million in funding – and is now trending toward the $10 million milestone.
Hitting $10 million in funding would be an incredible feat for Love Hate Inu’s team and stems from the investment community’s encouraging reaction to the project’s “Vote-to-Earn” (V2E) protocol. Per the whitepaper, this protocol allows investors to earn LHINU, Love Hate Inu's native token, simply by participating in polls.
Given the controversy surrounding crypto earnings mechanisms over the past year, many investors are looking for safer alternatives – and Love Hate Inu’s V2E setup appears to hit the mark in this regard.
Moreover, 17,000+ people have now joined the project's Telegram channel, showcasing the strong community being built around Love Hate Inu.
With Stage 6 of the presale ongoing, investors have a limited time to buy LHINU tokens for just $0.000125. However, only 12.5% of the token supply has been allocated to each stage – once the allocation has been depleted, the LHINU price will rise, incentivizing investors to get involved as early as possible.
