AI Meme Coins Surge as Traditional Memes Struggle
The crypto market is having a slow day, and meme coins are struggling even more than usual. Among the top 200 cryptocurrencies, some of the worst performers include Dogecoin (DOGE), Pudgy Penguins (PENGU), and SPX6900 (SPX). However, meme coins connected to artificial intelligence (AI) projects are showing stronger performance.
Dogecoin (DOGE), the most well-known meme coin, is barely moving. It’s up just 0.6% today, trading at around $0.1871. That’s below the overall market average of a 1% gain. DOGE still holds a strong position with a market cap of $27.4 billion, but its price action is underwhelming.
MemeCore (M), another meme coin that recently gained attention, dropped slightly by 0.1%. Its price dipped below $0.46 on major exchanges.
Pudgy Penguins (PENGU), which is linked to a popular NFT collection, has slipped out of the top 100 cryptocurrencies after falling 2.9% in the last 24 hours.
SPX6900 (SPX), often referred to as “Murad’s meme coin,” is having a rough week. It lost 3.3% today and is down more than 13% over the past week. The price has now fallen below $0.866.
Despite these struggles, the overall market cap for meme coins actually went up by 2.2% in the last 24 hours, now sitting at over $61.4 billion, according to CoinGecko.
While many traditional meme coins are slipping, AI-themed meme coins are gaining momentum. Tokens like ai16z (AI16Z), aixbt (AIXBT), and OKZOO (AIOT) are all seeing big gains.
For example, ai16z (AI16Z) jumped by 21% overnight and has crossed the $0.10 mark for the first time in over three weeks.
OKZOO (AIOT) surged by 30% in a single day, reaching $0.60 on platforms like Gate, MEXC, and PancakeSwap.
Looking at bigger cryptocurrencies, XRP and Solana (SOL) are in the red today, showing minor losses. Meanwhile, Bitcoin (BTC), Ethereum (ETH), and other major coins have made small gains of around 0.4% to 0.5%.
In summary, while top meme coins like DOGE, PENGU, and SPX struggle in a flat market, AI-related meme tokens are proving to be the bright spot with significant price jumps.