The meme market surged following an Elon Musk X post about Floki, his Shiba dog accompanied by a lighthearted AI-generated video, on Monday, October 20.
Overall, the meme market climbed to $64B, an approximate 3% growth after a volatile week, proving that Elon Musk still has a major influence on the entirety of the market, especially meme coins that rely on hype.
Although the crypto market was on to a good start on Monday, traders are setting their sights on digital assets ranging from low-cap coins to new presales, which promise more substantial gains in Q4. One of the most prominent winners is DeepSnitch AI, which raised $446K in its second stage, despite market volatility.
In fact, early investors already hail DSNT as the best crypto to buy now, believing it could become the next crypto to 100x due to its robust AI utility, mainstream potential, and meme-friendly presence.
How much did FLOKI surge?
Elon Musk’s X post about Floki, his Shiba Inu (and the dog that inspired its own meme coin), caused FLOKI to momentarily surge by over 25%.
The price of FLOKI increased from $0.00006572 to as high as $0.00008592. Although the asset did correct a few times, the momentum was enough for the coin to surge a second time.
Some of the hype spilled over into the wider meme market, which surged by 3%, climbing to as high as $64B before correcting to $57B. Despite the surge not being as sizable as many expected, the meme market did struggle the week following the crash on October 10, thus the surge is undoubtedly bullish.
The rally is not surprising, considering that Elon Musk has a strong position in crypto, and a considerable influence in the crypto sector. For instance, Musk’s posts have often led to massive spikes with meme tokens, including Dogecoin.
The meme sector lost nearly 40% of its value on October 11, shrinking from $72B to $44B, which represents a restoration to its July levels. While the sector has about $15B to restore its pre-crash value, the current state of things did restore some of the bullish sentiment in a fearful market.
Despite the anticipated pump at a later date in October, many traders are looking to diversify, targeting smaller projects and presales in general, as these assets are significantly more robust in volatile markets. More importantly, they may carry a higher upside potential, which means they are capable of bringing in higher gains in Q4 and beyond.
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DeepSnitch AI: Why is DSNT expected to surge by 100x?
DeepSnitch AI is a fresh AI project that’s set up for an explosion in Q4, primarily due to its interesting fusion of robust, trader-centric utility and meme presale culture. Considering that the hype surrounding the project is strong, having raised over $466K in record time, the combination seems to be working.
DeepSnitch AI is creating a sophisticated AI suite that will provide accurate and actionable trading insights for both small retail traders and whales. Relying on five AI agents that are specifically programmed to scrape raw-on chain data, the suite will help translate complex and unreadable information into actionable insights.
Traders will be able to access this information in a centralized dashboard.
In addition to tracking whale wallets, traders can also keep their eyes on sentiment shifts, and receive concrete information on alpha developments, and hidden gems. While some of the agents will allow for more efficient traders, some are focused on keeping traders safe.
For instance, DeepSnitch AI will be able to perform risk scans, notifying users of FUD storms and imminent rug pulls.
Operating in the AI sector, the project can attract AI aficionados, however, it’s also a highly-usable project meaning that it could also reach a wide array of retail traders. Plus, since 30% of the supply is allocated to marketing (very common when launching meme coins) and the presentation is meme-friendly, DeepSnitch AI also has the chance to go viral in the meme sector.
Due to robust fundamentals and the ability to attract users in multiple sectors, many traders believe the native DSNT token could be the next crypto to 100x in the ongoing cycle.
In short, getting on board while the price is still $0.01953, investing as little as $500 could yield you $50K. Generally speaking, this is very hard to achieve with major coins, as they may be limited due to high market caps and higher average pricing.
With over $466K raised, DeepSnitch AI is hitting peak demand before the presale inevitably snowballs as whales start purchasing the token in “bulk”.
Floki: Can FLOKI continue the pump?
According to CoinMarketCap, FLOKI traded at $0.00008000 following the Elon Musk tweet.
Analysts believe Floki showed a double-bottom pattern with strong momentum indicators that clearly outline a bullish setup. For instance, the RSI line is in the neutral line, while the MACD histogram is forming into a golden cross above the key signal line.
The crucial area to watch for is $0.000115, and if FLOKI reclaims and closes above this level, the price will likely shoot even higher. In fact, there’s a possibility that Floki could realistically reclaim its ATH of $0.00035.
This would represent a 10x pump, which while good for existing holders, may fail to match upsides possible with early-stage projects, especially for new investors.
BNB: Can BNB retest its all-time-high?
BNB is again, one of the top trending coins this week, trading in the $1.1K area, according to CoinMarketCap.
Analysts point out that BNB’s stability is a sign of things to come, anticipating a massive breakout if the current momentum sticks. The resistance is strong at the EMA of $1,135, yet if bulls push past this level, BNB will match the Fibonacci retracement level near $1.2K.
If the price breaks through $1,239, BNB could retest its ATH above $1.3K from October 13.
On the other hand, the entire setup may fall apart if BNB turns down at $1K.
Final words: Hype is back
Floki’s rapid pump may confirm that the market is still full of hype and ready to break out despite the cautious attitude of some traders.
It’s worth pointing out that at the end of the day, Floki is still a meme coin with a massive market cap that may limit the ROI, especially with smaller investments. As such, DeepSnitch AI, an early-presale project, is considered by many to be the best crypto to buy now, due to its ability to bring explosive gains after launch.
With $446K already raised, DSNT is expected to snowball soon, meaning that the stages will rapidly progress and pump up the price beyond $0.01953.
Get the most value out of your investment by participating in the DeepSnitch AI presale now.
FAQs
1. Why did Floki surge after Elon Musk’s post?
Elon Musk’s X post featuring his Shiba Inu, Floki, triggered a 25% surge for the FLOKI token. The tweet reignited interest in meme coins, leading to a short-term rally across the $64B meme market sector.
2. Why is DeepSnitch AI considered the best crypto to buy now?
DeepSnitch AI blends real AI utility with meme-friendly marketing, offering five autonomous AI agents that analyze on-chain data for actionable trading insights. Due to its current success and proposed 100x potential, many traders are already apeing the token.
3. What other cryptocurrencies are trending?
Besides DeepSnitch AI and Floki, BNB stood out due to its stable performance. Trading at $1.1K, analysts believe it could surge past $1.3K if the momentum continues.
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