AI and Meme Coins: The Bloodbath You Didn’t See Coming 😱💸

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Ah, the grand theater of cryptocurrency! Where artificial intelligence (AI) and meme coins, once the darlings of the digital age, now lie battered and bruised in the gutter of the market. The hype, the promises, the dreams—all reduced to a mere whisper of their former glory. Nick Garcia, the ever-so-eloquent crypto analyst at Messari, paints a picture of “absolute carnage” in the streets of this digital dystopia. 🩸🔪

AI and Meme Coins: The Fall from Grace

Altcoins tied to AI infrastructure and meme cryptocurrencies, those whimsical tokens born from internet jokes, are now the pariahs of the crypto world. Garcia, in his infinite wisdom, shared with his X followers the grim reality: AI infrastructure coins are down by a staggering 71% from their all-time highs, while DeFAI cryptos have lost 61%. Meme coins, those delightful absurdities, are not faring much better, with an average drop of 63%. Oh, the humanity! 😭

Absolute carnage in the streets 🔪🩸

Here’s a look at the top assets across recent “hot” verticals:

◦ AI Infra: Down an average of 71% from ATHs
◦ DeFAI: Down an average of 61% from ATHs
◦ Memecoins: Down an average of 63% from ATHs

Bear market or golden bull? You tell me.

— Nick Garcia (@NickDGarcia) January 28, 2025

Garcia, with the precision of a surgeon, dissected the carnage: Ai16Z (AI16Z) and Virtuals Protocol (VIRTUAL) are down by 71%, while ZEREBRO, the AI-focused GPU network token, is the absolute worst performer, with a jaw-dropping 89% loss. DeFAI cryptos like BUZZ, COOKIE, GRIFT, and AIXBT are also in the red, losing 61% on average. And meme coins? Oh, they’re not spared either. Popcat (POPCAT) and Dogwifhat (WIF) are down by 83% and 78%, respectively. Even Dogecoin (DOGE), the once-mighty king of memes, has lost 35% of its value. 🐕💔

2024 Trends: A House of Cards?

In January 2025, the once-trending altcoins are bleeding profusely. PolitiFi, the meme coins associated with politicians, dropped by 38% in just seven days. Murad’s Memecoins, the brainchild of seasoned analyst Murad Mahmudov, saw their capitalizations plummet by 35% in the same period. Meanwhile, the “serious” categories like RWA tokenization and liquid staking are basking in the green. Oh, the irony! 🎭

So, dear reader, is this a bear market or a golden bull? The streets are red, the knives are out, and the carnage is absolute. Only time will tell if this is the end of an era or merely a bump in the road. But one thing is certain: in the world of cryptocurrency, nothing is ever as it seems. 🎢

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2025-01-29 19:38