bullish

Bitcoin

Goatseus Maximus

Shiba Inu

Maximus

Amidst bullish Bitcoin sentiments, meme coins have taken a lead, outperforming <a href="https://yellow.com/asset/btc" rel="noopener noreferrer nofollow">BTC</a>. Many <a href="https://decrypt.co/286859/meme-coins-blast-past-bitcoin-gains" rel="noopener noreferrer nofollow">meme coins</a> like Elon Musk's Dogecoin (<a href="https://yellow.com/asset/doge" rel="noopener noreferrer nofollow">DOGE</a>) have been surging ever since BTC reached $67,000, climbing up 11%.
While Base network's Brett (<a href="https://yellow.com/asset/brett" rel="noopener noreferrer nofollow">BRETT</a>) has seen a 25% surge, Solana-based Bonk (<a href="https://yellow.com/asset/bonk" rel="noopener noreferrer nofollow">BONK</a>) and DOGE both increased by 16%. Meanwhile, Shiba Inu (<a href="https://yellow.com/asset/shib" rel="noopener noreferrer nofollow">SHIB</a>) is also up by 7%. In fact, the top 15 meme coins based on market capitalisation are trading in positive territory.
Of all the meme coins, the first AI-generated token Turbo Toad (<a href="https://yellow.com/asset/turbo" rel="noopener noreferrer nofollow">TURBO</a>) has come out as the main winner with a 71% price increase. TURBO's origin story involves ChatGPT generating the coin's name, followed by AI-assisted creation of its imagery, tokenomics, whitepaper, and code.
This surge in meme coins pricing comes on the heels of the recent Goatseus Maximus (<a href="https://yellow.com/asset/goat" rel="noopener noreferrer nofollow">GOAT</a>) success which capped at $285 million in a week. Similar to TURBO, GOAT also has an AI origin as it was created by the Truth Terminal chatbot which tweets about NFTs and meme coins. Crypto traders highlighted how they turned $5,500 to $1.5 million by investing in GOAT.
The current meme coin frenzy has sparked a wave of AI-related tokens flooding the market. However, investors should approach these highly volatile assets with caution. While the potential for significant gains exists, the risks are equally high.
This meme coin surge comes at a time when the market is just recovering, which the crypto traders term Uptober. The crypto economy is currently benefiting from the rise in institutional interest in Bitcoin as spot ETFs are under SEC scanner. This is in line with what happened in earlier bullish runs, and crypto traders should keep in mind that meme coins are highly speculative before taking advantage of these gains.

Meme Coins Outperform Bitcoin as Crypto Market Heats Up

Yellow News

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