With a 43% Crash, Where Will AICORE Land Next?

AICORE dropped massively today, going down by 21%, making it suffer a weekly crash of 43%. Which way will this crypto likely go in days to come?

AICORE Drops 21.5%

AICORE registered a loss of 21.5% in the last 24 hours. The emergence of massive red candles created step-like patterns on the price chart, with the token’s value declining and stabilizing for a few minutes before falling again.

However, its market capitalization hasn’t been affected despite a 31% drop in its trading volume. At 6:30 a.m. EST, AICORE was priced at $4.08.

What is AICORE?

According to its official website, AICORE is a native crypto for the BullBear ecosystem.

The project is an AI-driven blockchain ecosystem built on Arbitrum to predict bull and bear markets by analyzing user behaviors and patterns. The ecosystem has partnered with AXEN, an AI-based utility token, and Yuliverse, a metaverse game.

The DeFi ecosystem was launched on the 17th of August and went on its first bull rally short afterward, peaking at around the $27 mark.

$AICORE is an innovative token in the BullBear AI ecosystem. $AICORE can be used to stake to earn $ARB token at https://t.co/Cg6nlMjoXi

✅ Max supply: 200,000 $AICORE
✅ Contract: https://t.co/RhQEmUPqHo
✅ Trade: Uniswap, BIG CEX is coming
✅ Chart https://t.co/v88nJxHtbQ… pic.twitter.com/ZaqAm7gRod

— BullBear AI | AIBB 97% Supply Burned🔥 (@bullbear_ai) August 15, 2023

However, despite its many positives, it failed to create a buzz on social media, which led to its rapid decline.

That decline was in the shape of a straight line, which led many to believe it might be just another rug-pull. But over the past few days, this token has persisted between the $4 and $6 mark, indicating that bears and bulls are trying to mobilize this asset, with the current price chart showing a bearish dominance.

Since the current downturn is likely due to macroeconomic activity, which makes it difficult for new tokens to prosper, AICORE’s performance will likely change once the last two elements of the project, AINFT and AICHAIN, are released.

AICORE Price Analysis

Due to being a recently released token, AICORE is not currently tracked by Tradingview. It is only available on two cryptocurrency exchanges – MEXC and Uniswap. The following chart has been taken from the latter.

The hourly chart shows the token consolidates just above the $4 mark. However, given that the current RSI is 37 (purple) and the MACD is negative, there is a significant chance that this asset will drop inside the oversold zone.

Once it does, it may receive a bounce, which could spell good news for this asset in the short term. However, how far up it goes will depend on how the community perceives it.

The long-term prospect of this token will depend on the developments it has been going through.

In light of this, it invests alternative tokens with a better chance of more significant returns.

AI is a better Alternative – SONIK

Sonik Coin is a presale crypto inspired by Sonic the Hedgehog. While this memecoin project isn’t affiliated with the video game character, it adds a comedic spin to it by creating graffiti-like imagery and using “speed” as the inspiration to move forward.

SONIK’s primary goal is to become the fastest token to reach a $100 million market capitalization, for which it has adopted the perfect combination of memes and utilities.

In terms of utility, Sonik Coin offers Stake-to-Speed, a staking program through which SONIK holders can earn impressive APY by holding the token for seven days. The project has dedicated 40% of its total supply of tokens to the staking pool and plans to distribute them over the next four years.

With a total supply of 299,792,458,000 tokens, Sonik’s inspiration comes from the speed of light. It is also speedily rushing through its presale, having raised over $500k in less than two weeks. The presale will conclude in the next ten days or when the presale raises $2.09 million, whichever comes first.

Sonik Coin pushes the narrative of a meme coin by providing another asset inspired by a widespread cultural phenomenon. This factor can fuel its presale and pump once it goes live on the listing charts. Those interested can visit sonikcoin.com to participate.

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