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In this article we explore the crypto CorgiAI, a memecoin belonging to the Cronos ecosystem that has been making waves in recent days.
The thing that stands out immediately when looking at CorgiAI is the market performance recorded during the past week, which caused the value of the coin to increase about 20 times.
With the return of optimism in Bitcoin’s case that recently broke the $35,000 threshold, even low-capitalization cryptos are back to posting important numbers, making shitcoin speculators exhilarated.
Let’s see if CorgiAI still has room for another bullish leg up and if the project can have a long-term future.
What is the crypto CorgiAi?
CorgiAI is a crypto project developed on the Cronos chain, a network belonging to the Crypto.com exchange, based on the theme of artificial intelligence.
With its branding, it also takes up the features of the small sheepdog “Welsh Corgi,” which is very sympathetic in the eyes of animal lovers because of its long, flattened frame ( similar to the dachshund) and its lively, smiling features.
The birth of CorgiAI stems from the project creators’ realization that they had worked too assiduously in the past years, so much so that they had forgotten even their own birthday having been overwhelmed with commitments.
With the advent of AI and the spread of new tools that simplify most everyday work tasks, it was possible to think big and aspire to a brighter future than imagined just a few years ago.
Hence the birth of a real social club, in which the CorgiAi community can build successful applications together within the Cronos ecosystem, bringing teamwork to a new dimension of fun.
All club participants have the sole task of thinking creatively and imagining the future of web3 by exploring new AI solutions day by day.
This project boasts the presence of a crypto called by its very name CORGIAI, which is the decentralized currency of choice for the community.
To give value to this crypto resource, the memecoin team chose to implement a burn system for each milestone the group achieved.
Approximately 40 million CORGIAI have been burned so far, equivalent to a current countervalue of $35,600, and further supply dilutions are planned for the future.
CORGIAI also performs staking functions and allows community users to earn a fixed yield, with the yield varying according to the lockup period.
In fact, if you choose to lock the token for one month on the official platform, you get an APR of 2.09%, if you lock them for 6 months 12.55%, for 12 months 50.22% and finally for 48 months 150.66%.
Be careful because the returns are variable and could change a lot as the cash in the pool is put in or withdrawn.
CorgiAi’s strategy to stand out within the huge meme-based shitcoin landscape is to prioritize the development of its community as well as to promote cryptocurrencies and the decentralized finance environment in general.
The concept of artificial intelligence is central to the project and ideally represents the technology that will be able to transform the way crypto communities are perceived.
The roadmap of the Cronos project is very ambitious: after achieving important past milestones such as listing the CORGIAI token on DEX, enabling liquidity mining, and aidrop to “friends of Corgi,” it will soon be time for the second phase.
On this occasion, the success of the community will be celebrated with the unveiling of “community NFT” of a virtual art gallery and an AI marketplace, as well as the launch of a referral mechanism to incentivize membership in the project.
Market analysis and forecast in the long run
As mentioned, CorgiAI’s popularity is due to the recent success in the marketplaces by which the crypto gave away an X20 to its token holders.
In fact, in the space of just 5 days, CORGIAI has grown so much from $0.000083 on November 8 to a top of $0.0016 on 12 November.
This is an incredible 1930% growth to be exact, which has made many memecoin speculators jealous.
Even today the coin seems to be in good shape and is about to attack local highs with a +80% candle, after having recorded 3 days of retracement.
These days market volumes have been extremely high for a crypto that has only $1.6 million locked in liquidity pools, enabled for user exchanges.
On 12 November, when CORGIAI touched its ATH, volumes even reached the $2 million mark.
CORGIAI is currently listed on Crypto.com, VVS Finance, and Bilaxy.
CORGIAI’s circulating supply is 277 billion units while total supply is set at 500 billion.
Currently the token’s market capitalization is $254 million, an exaggeratedly high figure for what the project represents and the liquidity crammed into it.
Probably the disproportionate price growth of recent days will eventually burst into a giant bubble in which many holders will lose their money.
For several months the shitcoin in question had an active on-chain of zero, with very few exchanges and no serious activity aimed at creating value other than a few initiatives geared toward community cohesion.
Out of the blue, the crypto’s price rally began with a noticeable increase in volumes-meaning that behind the recent price movements are manipulation attempts by some whale who wanted to push up the value of CORGIAI.
As soon as the whales who bought last week go through the sales review, the coin’s price will return lower than pre-pump.
There is absolute caution to be taken with these memecoins as they imply huge volatility risks, with which one could get hurt if one is not an experienced user of trading.
In all of this there is also the weakness of the Cronos ecosystem, which with only $354 million in TVL (90% of which is represented by only 3 dApps) is still far from its peak period and seems to be at a standstill in terms of developments.