AI tokens and meme coins offer “buy the dip” opportunities amidst market meltdown


  • Meme coins based on Solana and cryptocurrencies in the Artificial Intelligence category note declines in their prices. 
  • Marketwide correction has shaved off 6% of AI market cap and 3% of Solana-based meme tokens’ market cap respectively. 
  • FET, AGIX, OCEAN, TRAC, BEER, SLERF, PENG noted double-digit declines in the past 24 hours. 

Artificial Intelligence (AI) tokens and meme coins have observed sharp declines in prices, with several assets experiencing double-digit drops. 

Amidst the market wide correction in crypto, tokens like Fetch.ai (FET), SingularityNET (AGIX), Ocean Protocol (OCEAN), Origin Trail (TRAC), Beercoin (BEER), Slerf (SLERF), Peng (PENG) have witnessed double-digit declines in the past 24 hours. 

AI and meme coin traders could “buy the dip”

Seven tokens from the AI and meme coin categories have noted double-digit declines in their prices in the past 24 hours per CoinGecko data. While AI tokens and Solana-based meme coins consistently rallied for the past several weeks, tokens in these two categories extended their losses this week. 

FET, AGIX, OCEAN, TRAC, BEER, SLERF and PENG prices declined 12%, 13%, 13%, 10%, 31%, 13% and 9%, in the last 24 hours, as seen on CoinGecko. The ongoing crypto cycle has seen AI and Solana-based meme coins emerge as key narratives, yielding gains for holders. 

The steep correction, therefore, offers a “buy the dip” opportunity to traders looking to open a trade in these assets. 

FET, AGIX and OCEAN will merge into the ASI token on July 15. Until then, the three AI tokens continue to trade separately across exchange platforms. Solana-based meme coins have extended their losses after weeks of profit-taking by holders. 

Base-based meme coins and celebrity coins have taken over the narrative and have gained relevance among market participants in the past week. Daddy Tate (DADDY) is one such token, trading at $0.2008 at the time of writing. 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin reaches new highs near $90,000, on-chain data show chances of pullback

Bitcoin reaches new highs near $90,000, on-chain data show chances of pullback

Bitcoin hit a new all-time high of $89,900 on Tuesday before easing to around $86,000, following a 30% surge since November 5. Technical indicators suggest the rally may be overstretched, with a potential corrective pullback ahead. 

More Bitcoin News
GIGA investor loses $6M to phishing scam via fake Zoom link

GIGA investor loses $6M to phishing scam via fake Zoom link

On Monday, a Gigachad (GIGA) investor lost $6.09 million due to a phishing attack involving a fake Zoom link. Crypto investigation firm Scam Sniffer declared the scam that led the victim to a malicious site, compromising their wallet.

More Cryptocurrencies News
Tron, Avalanche and Uniswap: Double-digit gains on the cards, technical indicators show

Tron, Avalanche and Uniswap: Double-digit gains on the cards, technical indicators show

Tron is breaking above an ascending triangle formation on Tuesday, signaling a potential rally continuation. While AVAX and UNI are retesting their crucial support level — if supported, this suggests an upside move — all three altcoins look poised for double-digit gains as the crypto rally continues.

More Cryptocurrencies News
BNB: Bullish technical pattern validated, eyes all-time high

BNB: Bullish technical pattern validated, eyes all-time high

Binance Coin trades slightly down on Tuesday after breaking above an ascending triangle formation on the weekly chart, following a 12.5% rally last week. The technical outlook suggests a bullish breakout pattern and continuation of the rally, with a target set for a new all-time high of $825.

More Binance News
Bitcoin: Further upside likely after hitting new all-time high

Bitcoin: Further upside likely after hitting new all-time high

Bitcoin hit a fresh high of $76,849 on Thursday as crypto-friendly candidate Donald Trump won the US presidential election. Institutional demand returned with the highest single-day inflow on Thursday since the ETFs’ launch in January.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP