The memecoin sector has taken center stage in the midst of a bullish crypto market, outperforming even red-hot AI tokens.
Industry sectors such as Layer 2s, which are crucial for scaling blockchain for mainstream use, and the intersection of crypto and artificial intelligence, were expected to lead the way in terms of performance.
Technical frontiers like restaking, modular blockchains, and DePIN projects were also seen as potential contenders.
However, defying expectations, it is the cat-themed coins, dog-themed coins, memes, and fractionalized NFTs that are leading the charge.
Meme Coins Post Substantial Gains

Cat-themed coins, with tokens like Taylor Swift’s Cat, Banana Cat, and Pop Cat, have seen impressive gains, with Taylor Swift’s Cat token surging 25-fold in the past seven days.
Although the cat coin sector may seem dismissible with a market cap of $730 million, the meme category has emerged as a force to be reckoned with.
With a staggering market cap of $55 billion, meme coins have surpassed the liquid staking sector, Layer 2s, and gaming tokens in terms of valuation.
Within the meme category, dog-themed coins dominate, with Doge, the original meme coin, reigning supreme with a market cap exceeding $20 billion.
The sector as a whole has experienced an 84% surge in the past week. Notable performers include SHIB, PEPE, BONK, WIF, FLOKI, and POPCAT, which have more than doubled in value, contributing billions of dollars to their market caps.
Other significant gainers include MYRO and MOG.
Solana Emerges as Preferred Blockchain for Meme Coins

Solana, a blockchain platform known for its low transaction costs, has emerged as a preferred venue for trading meme coins.
The platform has seen a wave of new coins featuring caricatures of public figures like Joe Biden and Donald Trump.
The viral story of a trader turning $260 into nearly half a million dollars with ‘Jeo Boden’ sparked the creation of coins like ‘Doland Tremp’ and ‘Olen Mosk.’
No way they just dumped $BODEN on Biden’s terrible state of the union speech? 😂😭 pic.twitter.com/Eyybd0kxWV— Bones Senpai 🧞‍♂️ (@EVNFT) March 8, 2024
Solana-based decentralized exchanges (DEXs) have witnessed trading volumes exceeding $2 billion on March 5, according to DeFiLlama, with Solana’s share of DEX volumes steadily increasing to around 15% from less than 2% six months ago.
Currently, Solana is the third largest blockchain network in terms of DEX volume, trailing behind Ethereum (ETH) and Arbitrum.
Ethereum, which hosts the largest DeFi ecosystem, registered around $4.7 billion in trading volume in the past 24 hours, with a positive weekly change of 54%.
On the other hand, Arbitrum DEXes saw $2.1 billion in daily trading volume, up by 85% over the past week.
The Solana ecosystem now boasts more than 2,500 monthly active developers, according to the Solana Foundation.
The foundation highlighted that the network has maintained a consistent range of 2,500 to 3,000 monthly active developers throughout the past year, a testament to the ecosystem’s ability to attract and retain talent.
The increased developer activity comes as Solana continues to make waves in the crypto community, achieving several significant milestones.
The network has surpassed Ethereum in 7-day stablecoin trading volume for the first time ever.
#meme #AIToken #TrendingTopic

The collision of AI technology with cryptocurrency has manifested a significant pump in crypto market.

Over the past year, I have seen this sector grow like no other. According to the data given by CoinGecko, the market value of AI based tokens has jumped from 2.7 billion to 26.4 billion in just a year!

Investors are most likely to invest AI projects because of their sustainability for over a longer terms. All these factors collectively resulted in the rise in AI tokens trading volume to reach their ATH of 3.8 billion and this has blown our minds.

The top analysts has also given their analysis considering AI token to be the driven force in the crypto world - and if I talk about my personal preferences I would definitely consider investing in AI projects than to any other sector.

WANT TO KNOW WHATS’S MY GO-TO TOKEN WHEN IT COMES TO AI?

RENDER NETWORK:

Render Network is just a lifesaver. Rendering complex graphics and images can be a time-consuming process. However, with the advent of distributed GPU rendering, this process has become faster and more efficient. By leveraging the power of blockchain technology, multiple GPUs can work together to render high-quality images and videos in a decentralized manner. This not only saves time and resources but also ensures greater security and transparency in the rendering process.

1 YEAR HIGH

Within just a year, this amazing coin has skyrocketed from $1 to $13.60. If I had not found it earlier, I would have regretted not buying it! $RNDR lights up my crypto portfolio with its mind-blowing potential to grow.! Four years ago, this coin was at its all-time low of $0.03 but has since shown remarkable growth.

MARKET CAP

With a huge market cap of $4.30 billion and approximately 500 million total supply, RNDR is making waves in the crypto world.

What are your favorite AI tokens that you own?

#DYOR #RNDR: #AIToken #ICP #GALA