Crypto tokens in the categories of Artificial Intelligence, meme coins, and prediction markets are experiencing a surge in value as the market eagerly awaits the decision on the Spot Ether ETF. In the past 24 hours, these tokens have shown impressive gains, with increases ranging from 4% to a staggering 71% in market capitalization.
The anticipation surrounding the Spot Ethereum ETF has injected renewed optimism into the market, leading to significant gains for nearly a third of the altcoins in the top 20 rankings. Ethereum itself has seen a 30% increase in value over the past week, as reported by CoinGecko, further fueling the positive sentiment among investors ahead of the ETF decision.
AI, Cat-Themed, and Solana-Based Meme Coins on the Rise
Various categories of altcoins, including Artificial Intelligence tokens, cat-themed meme coins, Solana-based meme tokens, and prediction market assets, have all witnessed notable growth in the past 24 hours. AI tokens saw a remarkable 71% increase in market capitalization, while cat-themed meme coins and Solana-based meme tokens added around 14% and 19% respectively. Prediction market tokens also saw a 4.5% rise in market cap.
Crypto Fear and Greed Index Signals Extreme Greed
The crypto fear and greed index, a tool used to gauge market sentiment, currently reflects extreme greed levels. This heightened greed suggests that tokens may be overvalued, potentially signaling a market bubble, according to Zerocap.
Despite the cautionary note of extreme greed, AI-based meme coins like CORGIAI, TURBO, Grok, and Kitten Haimer have all experienced significant gains in the past 24 hours, with increases ranging from 5.9% to 43.8%. Similarly, cat-themed meme coins such as Popcat, Mog Coin, cat in a dogs world, and Wen have all seen gains ranging from 1.1% to 12.3%.
Solana-based meme coins like Dogwifhat, Bonk, BOOK OF MEME, and Myro have also shown positive movement, with gains between 0.5% and 13.9% in the past 24 hours. Prediction market tokens like Gnosis, SX Network, and Kleros have rallied between 0.4% and 7% during the same period.
As the market continues to exhibit extreme greed, traders are advised to monitor their assets closely and consider taking profits in assets that have seen significant rallies.
