Indeed, since the abrupt and explosive rise of Goateus Maximus (GOAT), flankers seem a dime a dozen, according a Gate.io blog post.
Few, however, have rivaled runner-up Act I: The AI Prophecy (ACT) up 21x this month. Yet, cracks are starting to show as the past 24 hours have seen a 3.48% ACT price drop, eating into the 22.81% gain since last Tuesday.
Looking wider, the AI meme coin pool seems somewhat lawless as other runners grasp for exchange listings with the narrative in a discovery phase, still sussing out its key players.
However, the coins vying for a place on the podium have seen tailwinds of their own. Notably, NicolAI (NIKO) has seen a remarkable 121.02% rise over the past week.
Why AI Meme Coins: Is AI the Play this Cycle?
This new wave of meme coins underscores what crypto analyst Murad Mahmudov describes as a paradigm shift poised to reshape the crypto landscape during this meme coin supercycle.
Mahmudov notes that while past cycles saw the tokenization of iconic memes like Pepe the frog as PEPE, the 2024 cycle will see the emergence of a new category he calls “tokenized vessels of faith.”
He foresees a transition from animal-themed meme coins to more serious “movement coins” that could evolve into ideologies. These coins evoke cult-like followings rooted in deep community engagement.
Gate.io detailed how GOAT feeds into this vision – an AI Twitter bot, Truth Terminal, turned ideology after it began prophesying about a religion based on an infamous 2004 meme.
The project soon gained traction after Truth Terminal began interacting with GOAT’s community, endorsing the meme coin and creating its own crypto wallet.
This interaction has bolstered GOAT’s community and catalyzed its growth, embodying Mahmudov’s vision of meme coins evolving into ideologically driven “movement coins.”
ACT Price Analysis: Do AI Meme Coins Have Staying Power?
While ACT does not speak for other AI meme coins, its place on the podium does underscore the staying power of the narrative at large. Notably, the formation of a bullish pennant pattern lends to the continuation of ACT’s recent appreciation.
ACT / USDT 1H Chart, bullish pennant pattern. Source: Binance.
This pattern typically signifies a temporary pause in a prevailing uptrend. Although post-rally fatigue has stifled its momentum, the meme coin doesn’t seem finished just yet.
If ACT can maintain the critical support zone between $0.5888 and $0.5191, a breakout from the pennant pattern could set sights on a $1 price target.
Though, it should not be understated that ACT still suffers inherent volatility as a relatively new meme coin, giving any prediction loose footing.
Is This New Narrative Too Risky? This Safer Play Could Rally Just as Hard
While the potential of this new AI meme coin narrative is certainly promising, it errs on the higher risk side of meme coins, given that it is still figuring itself out.
For those looking to capitalize on the “meme coin supercycle” sentiment without betting big on a new narrative, it may be wise to hedge bets in other meme coins avenues with exponential growth potential.
Among them, Crypto All-Stars ($STARS) stands out as a unique opportunity by pioneering the industry’s first meme coin staking platform.
The MemeVault brings together the entire meme coin community under the Crypto All-Stars umbrella, staking to earn rewards in the project’s native token, $STARS.
This allows the most dedicated meme coin holders to stay true to their favorite coins while capitalizing on the gains staking offers. Something which may be credited to its instant success, raising almost $4.5 million in its presale already!
This confidence is bolstered by STARS’s commitment to transparency, with two successful audits ensuring investor safety.
Beyond its pioneering approach to meme coin staking, $STARS itself offers one of the biggest passive income opportunities right now, with a substantial 399% APY. While the market has suffered under recent volatility, All-Star investors have been raking in consistent gains!
Join the Crypto All-Stars community on X and Telegram to stay up to date on the latest announcements.
BUY $STARS NOW
The post Are AI Meme Coins The Next To Pump? ACT Up 13%, NIKO Up 150% In a Week, AI Meme Coin Supercycle? appeared first on Cryptonews.
