Leading AI coins are posting bigger overnight losses than the top cryptocurrencies and meme coins.
Ocean Protocol ($OCEAN), SingularityNET ($AGIX), and Fetch.ai ($FET) are all down by double-digit percentage figures over the last seven days.
Last month’s news that $AGIX and $OCEAN are merging into the $3 billion market cap token $FET in a Binance-supported deal helped the tokens rally sharply from mid-to-late June.
However, they’ve since been posting losses, with today’s losses being particularly bad. This is down to a mix of things, including a delay in the merger schedule, but broadly speaking, many AI coins are down across the sector.
At the time of writing, Fetch.ai is down 6.4% from its price this time yesterday and 16.4% over the last seven days. It now trades at $1.19.
The same can be said of Ocean Protocol and SingularityNet. $OCEAN fell 6.5% overnight and 16.5% over the week to $0.5204, while $AGIX dropped 8% overnight and 15.2% over the week to $0.5235.
How the Market’s Leading AI Coin Fared This Week.
The biggest AI coin, Near Protocol’s $NEAR token, depreciated 7.4% overnight and 8% in seven days to change hands at $5.24.
These losses much heavier than those posted by crypto market leader Bitcoin ($BTC). The world’s favorite digital asset fell 3.4% overnight and 0.6% over the week to trade at $64,169.
Still, the picture for AI coins may not be as bleak as it seems once we examine $NEAR’s performance over the last three months. While the token has fallen from highs of $8, it has found support around $4.
Source: TradingViewA July rebound appears to have held, giving the token’s price headroom to climb again. However, $NEAR could very easily lose its gains if the price keeps falling.
Given its relative strength index (RSI) is 35 and falling, which indicates heavy selling, further losses are a strong possibility in the short term. Investors are likely to see stability in the mid-term once the buying begins again.
WienerAI: a New Intelligent Meme Coin
AI coins have their bad weeks, but seeing as they operate at the intersection of artificial intelligence and blockchain, they’re likely to continue attracting heavy investment.
However, for people who want to diversify their portfolios with an AI/blockchain investment that’s fun and potentially very viral, there are a new generation of AI meme coin hybrids tapping AI for fundamental value, while using the self-marketing viral appeal of meme coins.
One such offering, WienerAI ($WAI), is dubbed “the ChatGPT of crypto” and has raised over $7.5 million in a presale that is due to end in eight days.
This new meme coin – a playful part-dachshund, part-wiener hybrid – also functions as a user-friendly trading chatbot that simplifies trading for traders of all levels.
Using it couldn’t be simpler, just open up its ChatGPT-style interface and begin asking it any trading-related questions. For example: “what’s the best AI coin to invest in this summer?”
The bot will then find and analyze the best possible options. It even recommends the best decentralized exchanges (DEX) for executing these trades.
Forged with the power of AI!
Get ready for WienerAI! pic.twitter.com/83p1CAXY1A
— WienerAI (@WienerDogAI) July 21, 2024
Moreover, traders can execute trades directly from the chat interface at zero cost, making it even more convenient and cost-efficient for them.
WienerAI also provides MEV protection, ensuring users are safe from price manipulation by trading bots.
Finally, for stakers, the token currently offers 141% APY. This makes it potentially a more profitable coin than alternative layer 1s like Avalanche and Solana.
WienerAI has undergone a full audit by SolidProof, confirming zero issues in its code, which gives investors added peace of mind
Join WienerAI’s growing community on X and Telegram to stay informed about the project’s latest updates and developments.
Buy now before the presale ends over on the official website.
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