AI Meme Cryptocurrencies Surge as Turbo (TURBO) Leads the Rally

The AI meme cryptocurrency segment is experiencing a massive surge today, outperforming the rest of the altcoin market. Coins like Turbo (TURBO) and GROK are leading the charge with double-digit gains, marking a significant boost in the overall market capitalization of this niche.

AI Meme Coins Take Center Stage

On Sept. 20, 2024, the AI meme coin sector topped the charts in the crypto market, with nearly $100 million added to its total capitalization in just 24 hours, according to CoinGecko. Among the top 200 cryptocurrencies, Turbo (TURBO), which is hailed as the first-ever AI-generated meme coin, surged by 18% following its listings on KuCoin Convert and the launch of leveraged trading on Base’s Wasabi Protocol.

Inspired by Elon Musk’s AI project Grok, the meme coin GROK added 17.3% to its market cap, approaching monthly highs with a trading volume that jumped to 25% of its fully diluted valuation. Meanwhile, Corgi AI (CORGI)—a coin merging the popular dog-coin meme with AI—rose 5%, showing promise to reclaim its place in the top 200 cryptocurrencies.

The total capitalization of the AI meme cryptocurrency sector has now surpassed $800 million, reaching its highest point in recent weeks.

“Serious” AI Cryptocurrencies Show Modest Gains

On the more serious side, AI-related cryptocurrencies like Fetch.AI (FET) and SingularityNET (AGIX) also saw gains, albeit at a slower pace. FET is back in the top 30 with a 1.7% increase, while AGIX grew 2.6% despite a dip in trading volume. Notably, Autonolas (OLAS), an AI coin ranked within the top 1,000, posted 33% gains, driven by its announcement of an upcoming event at the Ethereum Singapore conference.

Market Overview: Bitcoin and Overall Crypto Growth

As of today, the overall cryptocurrency market has risen by 1.6%, with Bitcoin (BTC), the largest cryptocurrency, adding 1.3% and currently trading at $63,400 on major exchanges.