A mild U.S. inflation report later today could generate a Bitcoin rally above the $97k threshold. iDEGEN’s presale has surpassed $21 million in advance of the February 27 listing.
Summary
This week, the cryptocurrency market has been adverse, with Bitcoin (BTC) falling below $94k on Tuesday. Nevertheless, it is currently trading at a price exceeding $96k per coin and may experience a further increase in tandem with the release of CPI data later today.
Bitcoin Trades Above $96K Before the Release of the CPI
Analysts anticipate that the January U.S. CPI report will demonstrate inadequate inflationary advancements. It is anticipated that the expense of living will increase by 0.3% month-over-month in January, which is a decrease from the 0.4% increase in December.
This will be advantageous for risk-based assets, such as Bitcoin, and the price of BTC may surpass $97k in the subsequent hours.
This week, the cryptocurrency market is bearish, but investors are still allocating additional funds to prospective initiatives. A promising initiative, iDEGEN has garnered millions of dollars in investment from investors.
What Is iDEGEN?
It is a meme initiative that capitalizes on the advantages of AI to develop the next billion-dollar memecoin. The initiative has raised more than $20 million in its presale and has used the funds to introduce a variety of products and services.
According to the whitepaper, iDEGEN primarily functions as an AI utility. It perpetually adapts and evolves by utilizing community inputs on X. Although AI is the driving force behind iDEGEN, degens are ultimately responsible for raising the tool.
$IDGN, the native token of the ecosystem, will facilitate a variety of activities. Despite its memecoin launch, iDEGEN will provide a variety of utilities to its community and the broader crypto space.
The recent expansion of the meme narrative in the crypto space is the reason for its introduction as a memecoin. Within the past year, the memecoin ecosystem experienced a 500% increase in market capitalization, rising from $20 billion to $120 billion.
Exchanges will launch $IDGN in approximately two weeks. It has the potential to become one of the most successful currencies in the broader crypto market once it is operational.
Users of iDEGEN provide the instrument with their data through tweets, tags, and comments. The iDEGEN tool acquires the post and incorporates it into its knowledge base; this is the process by which it acquires knowledge. Additionally, iDEGEN is capable of generating and posting parodies and remarks on X every 60 minutes.
iDEGEN Attains a Presale of $21 Million
The iDEGEN initiative is currently achieving new milestones, despite the current market conditions. The presale has now officially received more than $21 million from early investors.
The $IDGN token is currently valued at $0.0236 and will rise to $0.0259 in the subsequent stage. Early investors will receive a substantial return on their investment before the token’s launch on exchanges, as it will be valued at $0.038 during the final presale stage.
Centralized and decentralized trading platforms will list iDEGEN’s native token upon the conclusion of the presale.
Is It Advisable to Invest in iDEGEN Before Its Exchange Listing?
There is an ongoing presale for iDEGEN, which will conclude in 14 days. Upon the listing of the $IDGN token on cryptocurrency exchanges, it has the potential to become one of the most prominent performers in the market.
It is an intriguing memecoin due to its distinctive value proposition. Due to its exceptional utility, iDEGEN’s instrument has the potential to achieve widespread adoption within the crypto ecosystem. Upon the launch of $IDGN, early investors have the opportunity to earn a substantial return on their investment.
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