Examining CorgiAI’s value’s recent 20-fold rise in the midst of the cryptocurrency market’s resurgence of optimism.
This article examines CorgiAI, a memecoin that is a part of the Cronos ecosystem and has gained popularity recently.
When looking at CorgiAI, the most notable thing that quickly comes to mind is the market performance over the last week, which resulted in a 20-fold increase in the coin’s value.
Since Bitcoin recently broke through the $35,000 barrier, there has been a resurgence of optimism in the market. Even low-cap cryptos are generating significant returns, which has excited speculators of shitcoins.
What is CorgiAi, a crypto?
Based on the concept of artificial intelligence, CorgiAI is a cryptocurrency project created on the Cronos chain, a network that is a part of the Crypto.com exchange.
Through its branding, it also adopts the characteristics of the Welsh Corgi, a little sheepdog that is beloved by animal enthusiasts for its lively, smiling features and long, flattened frame, which resembles that of a dachshund.
The idea for CorgiAI was inspired by the project developers’ realisation that they had been working too hard in the previous years, getting so wrapped up in their work that they had missed their own birthdays.
It was conceivable to plan large and aim for a better future than was previously thought possible with the introduction of AI and the proliferation of new tools that streamline the majority of routine work duties.
This led to the creation of a true social club where members of the CorgiAi community could collaborate to create apps that are successful within the Cronos ecosystem, making teamwork even more enjoyable.
Every club member’s only job is to use their imaginations to envision web3’s future while investigating fresh artificial intelligence (AI) ideas on a daily basis.
The community’s preferred decentralised money, CORGIAI, is a cryptocurrency that this project is proud to have.
The memecoin team decided to add value to this cryptocurrency resource by instituting a burn scheme for every milestone the group hit.
To date, about 40 million CORGIAI have been burned, which translates to a countervalue of $35,600. Future supply dilutions are scheduled.
CORGIAI also stakes and offers community users a predetermined yield dependent on lockup time
The APR for locking the token on the official platform for a month is 2.09%, six months 12.55%, twelve months 50.22%, and forty-eight months 150.66%.
Proceed with caution, as pool fund inflows and outflows affect returns.
CorgiAi prioritises community building and cryptocurrency and decentralised finance ecosystem advancement to stand out from other meme-based shitcoins.
Artificial intelligence is the project’s main idea and can change how people view bitcoin groups.
The Cronos project has a very ambitious roadmap: the second phase will begin soon after putting the CORGIAI token on DEX, allowing liquidity mining, and helping “friends of Corgi”
To celebrate the community’s success, “community NFT” will be a virtual art gallery and AI marketplace. Additionally, a referral mechanism will encourage project participation.
Long-term market study and forecasting
As previously said, CorgiAI’s rise to prominence is a result of its recent success in the marketplaces, where the cryptocurrency awarded token holders with an X20.
Indeed, CORGIAI has increased significantly in just 5 days, rising from $0.000083 on November 8 to a peak of $0.0016 on November 12.
To be precise, this increase of 1930% has left many memecoin speculators envious.
Even after three days of retracement, the coin appears to be in terrific condition today and is poised to challenge local highs with a +80% candle.
For a cryptocurrency with only $1.6 million locked in liquidity pools that are open to user exchanges, market volumes these days have been incredibly strong.
When CORGIAI hit its ATH on November 12, volumes even crossed the $2 million threshold
Currently, VVS Finance, Bilaxy, and Crypto.com list CORGIAI.
There are 277 billion CORGIAI units in circulation out of a total supply of 500 billion.
The token’s $254 million market worth is exorbitant given the project’s goals and liquidity.
Current, disproportionate price gains will likely burst into a gigantic bubble that will lead many to lose all their money.
For months, the shitcoin had little chain activity, few exchanges, and few value-creating projects beyond community-building.
Some whale is manipulating prices to boost CORGIAI’s value, as shown by the cryptocurrency’s sudden volume spike.
The coin’s price will drop back to its pre-pump level as soon as the whales who purchased last week go through the sales review.
Extreme caution must be exercised while dealing with these memecoins due to their extreme volatility concerns, which might cause harm to an inexperienced trader.
A flaw in all of this is the Cronos ecosystem, which, with just $354 million in TVL (of which only three dApps account for 90%), is still far from reaching its peak and appears to be at a standstill in terms of development.
