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The segment of AI meme cryptocurrencies, i.e., meme coins using artificial inteligence narratives in various ways, is rocketing today despite the pale performance of the rest of the altcoins. Turbo ($TURBO), which is promoted as the first-ever AI-generated meme coin, leads the charge.
Elon Musk-inspired GROK adds 14%: AI meme frenzy
Today, Sept. 20, 2024, the AI meme cryptocurrencies segment is the top performer in crypto, according to CoinGecko statistics. The coins of this category added almost $100 million in capitalization in 24 hours.
Amid the top 200 cryptocurrencies by market capitalization, Turbo ($TURBO) is a top gainer, with a more than 18% upsurge in 24 hours. The token witnesses significant inflows of liquidity following listings on KuCoin Convert and the kickstarting of leveraged trading on Base's Wasabi Protocol.
GROK, a cryptocurrency inspired by Elon Musk-backed AI module Grok AI, is targeting monthly highs, with 17.3% in capitalization added. GROK's trading volume jumped to almost 25% of its fully diluted valuation.
Corgi AI (CORGI), the first meme coin merging the symbols of dog-coin and AI cryptocurrency, is also in the green today. With a 5% upsurge, it is yet again targeting getting back to the top 200 ranking.
In total, the capitalization of the AI meme cryptocurrency segment eclipsed $800 million in equivalent for the first time in last weeks.
AI cryptocurrencies $FET, AGIX also outperforming average
The segment of "serious" AI cryptocurrencies is also surging, but in a much slower manner. Artificial Superintelligence Alliance ($FET) is back into the top 30 coins by market cap with 1.7% gains.
Cardano-linked SingularityNET (AGIX) added 2.6% in shrinking trading volume. Autonolas (OLAS) is the only AI crypto in the top 1,000 that posted double-digit gains.
OLAS jumped by 33% overnight amid the announcement of hosting an event at the Ethereum Singapore conference. It spiked to its highest levels since July 2024.
The cryptocurrency market is up by 1.6% today. Bitcoin (BTC), the largest cryptocurrency, added 1.3%. It is changing hands at $63,400 on major spot exchanges.