Memecoins
AI Meme Crypto Segment Valuation Adds 100% in One Week
Contents
- AI Meme Coin Rally: Best-Performing Segment in Crypto Adds 100% in Seven Days
- Liquid staking and restake narratives have gained traction
AI meme cryptocurrencies, i.e. cryptocurrencies launched at the intersection of artificial intelligence and meme narratives, are demonstrating brilliant performance in the last 24 hours. Amid the pale dynamics of the overall cryptocurrency market, AI meme tokens and LRTFi/LSDFi categories are outperforming.
AI Meme Coin Rally: Best-Performing Segment in Crypto Adds 100% in Seven Days
Over the past 24 hours, the AI meme cryptocurrency category has added more than 15% in value, pushing its total seven-day growth to 100%. Thus, this controversial segment that combines features of the two most hyped narratives of 2023-2024 has doubled in value in just one week.
Image by CoinGecko
Two top cryptocurrencies from the AI meme group, Turbo (TURBO) and Corgi AI (CORGIAI) are among the biggest gainers in the top 250. Turbo (TURBO) gained 32.5% in 24 hours, while CorgiAI (CORGIAI ) rose 29.6% and reached a market capitalization of $750 million.
Grok (GROK), a meme coin behind the “Grok AI enthusiast community,” gained 6% and is now targeting a nine-figure valuation for the first time in its history.
As previously covered by U.Today, Grok is an AI-powered chatbot for Elon Musk’s social network X (formerly Twitter). From the beginning the project attracted the attention of the global crypto community.
Related
Some cryptocurrency traders believe that Grok could be useful when searching for short-term trending coins. However, analysts warn that Grok could amplify problems with bots on X.
Liquid staking and restake narratives have gained traction
In addition to AI meme coins, excellent performance is demonstrated by native coins of decentralized perpetual trading protocols and segment assets associated with staking.
Restaking liquid tokens, assets that allow users to earn additional yield from their staked assets, are seeing a surge today: Pendle (PENDLE) gained nearly 6% and reached a $1 billion valuation. The asset entered the top 100 cryptocurrencies by market capitalization.
In the liquid staking segment, considered more conservative, large gains are demonstrated by the Redacted (BTRFLY) and Origin Ether (OETH) protocols.