The AI meme coin sector remains in a bear market, with several tokens down over 80% from their all-time highs. Strong selling pressure on Solana has exacerbated these declines, as most of the top projects in this space are built on its network.
With the ongoing capital rotation from Solana to Ethereum, there is a significant demand for ETH-based AI meme coins.
For instance, MIND of Pepe (MIND) is being viewed by some as the next 100x crypto, considering its strong presale performance.
Summary
Solana-Based AI Memes In A Bear Market, When To Buy The Dip?
The AI meme coin meta has faced a reckoning since late January.
The top project in the space, ai16z (AI16Z), is down 86% from its all-time high and over 60% in the past month. Once valued at $2.55 billion, the token is now trading at just over $360 million.
The viral Fartcoin is faring even worse, down over 80% over the past month.
Similarly, AIXBT By Virtual has seen an 80% pullback from its peak amid profit-taking from whales.
Legendary Bybit trader Bluntz called the capitulation in the AI meme coin sector in late January, citing the completion of the 5-wave impulsive move to the upside.
He now anticipates minimal downside remaining in these coins, considering the A-B-C corrective wave appears to be nearly done.
However, sidelined investors should still exercise caution while buying the dip, considering the uncertain broader market outlook. In particular, the weakness in the Solana ecosystem is adding to the selling pressure on SOL-based AI meme coins.
Owing to the meme coin scams and liquidity crunch events like TRUMP, MELANIA and LIBRA coin launches, the Solana price has adopted a bearish trajectory and dropped to $165 on Tuesday. Bluntz believes that SOL is headed to $117, which would likely contribute to further declines in coins like AIXBT, AI16Z and Fartcoin.
Sidelined investors should wait for a bullish divergence on their daily price charts before buying the dip. Meanwhile, Ethereum-based AI meme cryptos like Mind of Pepe are a better alternative.
Investors Call Mind of Pepe The Next 100x Crypto
There is an ongoing rotation of capital from Solana to Ethereum, with the SOLETH chart down by nearly 20% over the past month. Experts are expecting investors to take profits on their Solana meme coin positions and rotate the profits to Ethereum meme coins.
Unsurprisingly, ETH-based AI meme cryptos are in high demand. For instance, MIND of Pepe (MIND) has raised nearly $6.5 million in short order, signaling high upside potential for the project.
The project has developed its own AI agent, a self-sovereign, self-evolving entity tasked with providing real-time market intelligence and hive-mind analysis to MIND holders.
The agent has its own X and Telegram accounts, which it uses to collect reliable alpha calls from trusted experts, interact with influencers and create trends of its own. MIND holders will receive actionable tips on how to benefit from the agent’s social media activity and analysis.
MIND of Pepe also has a native crypto wallet, which it plans to use to create its own meme coins. Meme coins created by AI models, like Goatseus Maximux, have seen remarkable success. Once again, MIND holders will benefit from discounted access to such coins.
Despite its popularity, MIND is a small-cap AI crypto, meaning it has high upside potential. When tokens like AI16Z and Fartcoin bottom out and start their bullish reversal, such low-cap coins could deliver outsized returns.
In the meantime, MIND of Pepe is poised to benefit from the rotation of capital to the Ethereum ecosystem.
Unsurprisingly, some experts are calling MIND the next 100x crypto, especially considering how several Solana-based AI meme coins reached multi-billion dollar valuations.
