- AI Tokens have seen more growth than memecoins in the last few weeks.
- Memecoins still hold more market capitalization despite declines.
As an analyst with years of experience observing and analyzing the crypto market, I find it intriguing to see the shift in investor attention from memecoins to AI tokens. While memecoins have been the darlings of the crypto world for a while now, it’s refreshing to see a new contender emerging on the scene.
Over the past several weeks, Artificial Intelligence-related tokens have seen remarkable expansion, mirroring the rapid growth observed with meme coins earlier in 2021. The escalating interest in AI-focused initiatives has substantially increased the market value of these tokens, signaling a change in investor preferences.
AI tokens see a boost in market capitalization
Over the past few months, AI Tokens have seen a significant surge, indicating growing trust in this field. Nowadays, investors view AI-focused projects not only as potential investments but also as promising ventures with long-term prospects.
This change has resulted in significant investment in digital currencies related to Artificial Intelligence (AI), as they have been gathering momentum due to the general enthusiasm about AI technology.
Over the past few weeks, from August 22nd up until today, an in-depth study of AI-related token market capitalizations on CoinMarketCap has indicated a substantial growth trend. Specifically, the market cap for these tokens surged from around $23 billion to more than $32 billion during this timeframe.
After hitting its highest point on the 25th of August, the market experienced a minor dip, yet it recovered and regained some strength.
Currently, the total value of the company stands approximately at $28.2 billion, suggesting a generally positive trajectory, even though there have been some short-term ups and downs.
The trend indicates a temporary market turbulence, but the enthusiasm among investors towards artificial intelligence ventures stays robust.
Based on information from CoinMarketCap, it’s noted that the leading five Artificial Intelligence (AI) tokens combined account for more than half of the entire market value of all cryptocurrencies related to AI. Here’s a summary of their individual market values:
It turns out that, apart from RENDER, many AI-related tokens have seen significant growth over the past week. At present, Bittensor (TAO) is in the lead, experiencing almost a 20% rise.
How memecoins compare
Over the past few weeks, it appears that the market value of memecoins has seen a significant drop. By the 3rd of August, the total market cap of these humorous cryptocurrencies was around $41 billion.
However, while AI tokens have surged, the memecoin sector has moved in the opposite direction. Data showed that the memecoin market capitalization has dropped to around $35.8 billion, as of this writing.
A breakdown of the leading memecoins shows that Dogecoin remains the largest, with a market capitalization of over $14.3 billion. Also, Shiba Inu ranks second with a market capitalization of over $7.8 billion.
Read More
- DOP PREDICTION. DOP cryptocurrency
- LDO PREDICTION. LDO cryptocurrency
- JASMY PREDICTION. JASMY cryptocurrency
- INDEX PREDICTION. INDEX cryptocurrency
- EUR PKR PREDICTION
- CORE PREDICTION. CORE cryptocurrency
- T PREDICTION. T cryptocurrency
- FXS PREDICTION. FXS cryptocurrency
- PSP PREDICTION. PSP cryptocurrency
- MDT PREDICTION. MDT cryptocurrency
2024-09-16 17:11