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Key takeaways
- A soft U.S. inflation report later today could see Bitcoin rally above the $97k level.
- iDEGEN’s presale surpasses $21m ahead of the Feb. 27 listing.
Bitcoin trades above $96k ahead of CPI
The cryptocurrency market has been bearish this week, with BTC dipping below $94k on Tuesday. However, it is trading above $96k per coin and could rally higher on CPI news later today.
Analysts expect the January U.S. CPI report to show limited progress on inflation. It’s expected to show that the cost of living increased by 0.3% month-on-month in January, slowing down from December’s 0.4% rise.
This will be positive news for risk-based assets like Bitcoin, and BTC’s price could surge past the $97k mark in the coming hours.
What is iDEGEN?
The cryptocurrency market is bearish this week, but investors continue to push more funds into new and promising projects. iDEGEN is a promising project that has attracted millions of dollars from investors.
It is a meme project that leverages the benefits of AI to create the next billion-dollar memecoin. The project has raised over $20 million in its presale and allocated the money to launch several products and services.
According to the whitepaper, iDEGEN is an AI tool that primarily functions as such. It continuously evolves and adapts by leveraging community feeds on X. While iDEGEN is powered by AI, degens ultimately raise the tool.
Its native token, $IDGN, will power various activities within the ecosystem. Although it will launch as a memecoin, iDEGEN will offer various utilities to its community and the broader crypto space.
Its launch as a memecoin stems from the recent growth of the meme narrative in the crypto space. Last year, the memecoin ecosystem grew from a $20 billion market cap to $120 billion, representing a 500% growth within 12 months.
The $IDGN launch on exchanges will occur in roughly two weeks. Once it goes live, it could become one of the best-performing coins in the broader crypto market.
iDEGEN users feed the tool their data through tweets, tags, and comments. The iDEGEN tool absorbs the post and adds it to its knowledge base; that’s how it learns. Furthermore, iDEGEN posts on X every 60 minutes and can generate and post memes.
iDEGEN’s presale hits $21m
Despite the current market conditions, the iDEGEN project continues to achieve new milestones. The presale has now officially surpassed $21 million from early investors.
In the current stage, the $IDGN token is worth $0.0236, and its price will increase to $0.0259 in the next stage. In the final presale stage, it will be worth $0.038, giving early investors a massive ROI before the token launches on exchanges.
Once the presale ends, iDEGEN’s native token will list on centralised and decentralised trading platforms.
Is it ideal to invest in iDEGEN before its exchange listing?
The iDEGEN presale is still ongoing but will end in 14 days. It could become one of the biggest performers in the market once the $IDGN token is listed on cryptocurrency exchanges.
Its unique value proposition makes it an interesting memecoin. iDEGEN could gain massive adoption within the crypto ecosystem as its tool offers an excellent use case. Early investors stand a chance to earn excellent ROI once $IDGN goes live.
This article first appeared at CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison
