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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.