In 2024, AI Coins Showcase Impressive Returns: A Comparative Analysis with Meme Coins

Crypto News– In 2024, AI-related coins have showcased remarkable performance, with their combined returns surging by 76% since the beginning of the year.

In 2024, AI Coins Showcase Impressive Returns: A Comparative Analysis with Meme Coins

Today, the Artificial Intelligence (AI) coins market experienced a 7% increase, pushing the market cap to $19.8 billion within the past 24 hours. Notably, tokens like Worldcoin, Fetch.AI, and SingularityNET have witnessed significant surges in recent weeks, contributing to the bullish trend within the AI-based coin market. Many of these tokens have recorded double-digit gains during this period.

Worldcoin, which aims to establish an extensive identity and financial network reaching a billion users, has seen its WLD token undergo an impressive bull run over the last four weeks, soaring by 222%. The AI coin reached a new all-time high of $9.449 on February 25. However, this momentum was temporarily halted by Elon Musk’s recent lawsuit against OpenAI.

Meanwhile, SingularityNET’s AGIX token is steadily approaching the $1 mark in the weekly chart, marking the fifth consecutive week of positive growth. The coin has surged by 218.5% over the last month, trading at $0.85 presently.

Fetch.AI’s FET is also experiencing a significant bullish trend, currently trading at its all-time high of $1.66 on March 1. Notably, Fetch.AI has witnessed a remarkable 191% increase over the last month.

According to data from CoinGecko, the leading gainers among AI coins include Balance AI, Octavia, and Chacedot, recording gains of 31.1%, 36.8%, and 26.4%, respectively, within the last day.

The surge in AI coins has been attributed to the launch of OpenAI’s Sora and the announcement of proposed multi-trillion dollar raises by Sam Altman.

NVIDIA’s earnings have also surpassed expectations, resulting in a substantial addition of $272 billion to its market value within a single day. Given NVIDIA’s pivotal role in AI development through chip production, this success has positively influenced the AI crypto market.