AI Meme Cryptocurrencies Surge, Doubling Value in a Week

According to U.Today, AI meme cryptocurrencies, which are digital currencies launched at the intersection of artificial intelligence and meme narratives, have shown impressive performance in the past 24 hours. Despite the overall crypto market's lackluster dynamics, AI meme tokens and LRTFi/LSDFi categories are outperforming. In the last 24 hours, the AI meme crypto category added over 15% in value, pushing the total seven-day growth to 100%. This controversial segment, which combines the features of two of the most overhyped narratives of 2023-2024, doubled in value in just one week. Two flagship cryptocurrencies of the AI meme group, Turbo (TURBO) and Corgi AI (CORGIAI), are among the largest gainers in the top 250. Turbo (TURBO) added 32.5% in 24 hours, while CorgiAI (CORGIAI) soared by 29.6% and reached a $750 million market capitalization. Grok (GROK), a meme coin behind the 'community of Grok AI enthusiasts,' added 6% and is now targeting a nine-digit valuation for the first time in its history. Grok is an AI-powered chatbot for Elon Musk's social network X (formerly Twitter) and has attracted attention from the global crypto community since the project's inception. Some cryptocurrency traders believe that Grok might be useful for identifying trending coins in the short term. However, analysts warn that Grok might exacerbate issues with bots on X. In addition to AI meme coins, native coins of decentralized perpetuals trading protocols and assets of staking-associated segments are also performing well. Liquid restaking tokens, assets that allow users to earn additional yield from their staked assets by restaking them, are surging. Pendle (PENDLE) added almost 6% and reached a $1 billion valuation, jumping into the top 100 cryptocurrencies by market cap. In the liquid staking segment, which is considered more conservative, large gains are demonstrated by the Redacted (BTRFLY) and Origin Ether (OETH) protocols.