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Accommodative CPI Inflation Boosts AI Coins: Is WienerAI the Best Crypto Pick?
April’s consumer price index bodes well for risky assets, resulting in a rally in US stocks and cryptocurrencies.
Year-on-year headline CPI data stood at 3.4%, exactly in line with market forecasts. The monthly headline figure even outperformed the estimate by 0.4%, closing down 0.1%.
Additionally, core CPI data cooled for the first time in six months.
Investors responded to CPI optimism by making long bets on stocks and cryptocurrencies, as the possibility of an interest rate cut this year increased, as per Cryptodaily.
The CPI report supports the cryptocurrency market amid rising expectations of Fed rate cuts
Of today IPC The report has huge implications for cryptocurrency prices. It is crucial to note that negative macroeconomic data halted the first quarter cryptocurrency bull run.
Fed Chair Jerome Powell took a dovish stance in his latest post-FOMC speech, which boosted cryptocurrency prices. However, the market likely needed further confirmation of waning macroeconomic concerns, as today’s consumer price index statistics provide.
As mentioned above, the possibility of a decrease in interest rates this year, which appeared worrying a few weeks ago, has now increased significantly. THE ECM FedWatch it now expects two rate cuts in 2024, one in September and the other in December.
Bitcoin is currently trading at $64,400, up 4% today. AI currencies have been the most spectacular, with the value of the AI cryptocurrency market growing by 6% today.
Tokens such as Render, Near Protocol and The Graph increased by 8%, while Bittensor increased by 13%.
Analyst Daan cryptocurrency exchanges indicates that the reason for AI’s outperformance may be that they were aggressively shorted prior to the current CPI. However, the AI sector is expected to be the most bullish sector during the current bull market.
Experts predict that large-cap AI cryptocurrencies will outperform all other sectors, while new AI coins could produce 100x returns.
WienerAI ($WAI) attracts investor attention with 100x profit potential
The excitement surrounding the new meme coins has investors focusing on WienerAI ($WAI)a new AI-powered meme coin that experts predict will generate 100x profits.
Meme coins are most likely the only cryptocurrencies that can outperform AI coins. Given that $WAI sits at the intersection of two of the most popular narratives, the grandiose 100x price projection may not be too far-fetched.
The new token has had a fantastic start to its pre-sale, having raised over $1.8 million in its first three weeks.
Investors are attracted not only by WienerAI’s unique mascot, which is a cross between a sausage, a dog and an AI hybrid, but also by its cutting-edge functionality.
The WienerAI trading bot is unlike any other companion. It is intended to answer all your trading-related questions while facilitating frictionless trades and offering MEV protection.
The meme currency also has its own staking algorithm, which currently provides a reward rate of more than 500%.
Interested customers can purchase $WAI via the WienerAI website’s over-the-counter widget.
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