CDS Crypto News Meme Coins and AI Tokens Lead the Rise, Recouping Losses Over the Weekend
Crypto News

Meme Coins and AI Tokens Lead the Rise, Recouping Losses Over the Weekend

Meme coins and AI tokens are on the rise.

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Meme Coins and AI Tokens Lead the Rise, Recouping Losses Over the Weekend

Crypto News – Since Bitcoin and other big tokens began to recover from their weekend losses, gains have been led by meme currencies and tokens connected to artificial intelligence.

Meme Coins and AI Tokens Lead the Rise, Recouping Losses Over the Weekend

According to CoinGecko category data, Solana meme coins, dog-themed meme coins, and Base network meme coins increased by an average of nearly 15%, while AI tokens increased by an astounding 17%. The jumps didn’t seem to be caused by anything. As prospective ETF providers announced they had been given the go-ahead to offer bitcoin and ether exchange-traded funds in Hong Kong, the price of bitcoin increased by 2.60% to trade at approximately $66,600 in the morning hours of Europe.

The meme tokens Cat in a Dogs World (MEW) and Slerf (SLERF), valued at millions of dollars, were reportedly taken by whales, according to a Lookonchain post on X. On the previous day, prices for the two increased by over 80%.

The Largest Liquidation Since March

Since late Friday, profit-taking ahead of the halving, which is scheduled for later this week, and macroeconomic concerns have affected the market, causing Bitcoin to decline from its highs of over $70,500 to as low as $62,800. Due to majors falling as high as 18%, it resulted in a market-wide collapse.

Consequently, during the weekend, $2 billion worth of futures positions were liquidated, the highest amount since March. According to statistics from the analysis platform Coinalyze, over $1.5 billion of those positions were bets on rising prices.

Meme Coins and AI Tokens Lead the Rise, Recouping Losses Over the Weekend
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lectertodd

Lectertodd is 25 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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