Memecoins Make a Comeback Despite Crypto Downturn

Memecoins Make a Comeback Despite Crypto Downturn

Unless you’ve been living under a rock, you’d know by now that the crypto market is going through a bit of a slowdown. But despite the overall sluggish trend, a couple of memecoins have been showing impressive gains over the past 24 hours. Part of The Open Network (TON) ecosystem, the coins defying the market’s bearish trend include Ton Inu, the Resistance Cat, and Resistance Dog.

RECA Rises by 49 Percent

TINU went up by a short 9.5 percent, while REDO got a leg up by 32 percent. The cherry on top? RECA increased by a whopping 49 percent! While there are no solid leads on how this happened, here are a few hints. Market players feel like they have AI crypto trading bots, such as the successful Quantum Income PRO, to thank for this recent growth.

This current rise is a stark contrast from the general bearish trend that’s prevailing in the crypto market. In total, the crypto market has only fallen by 0.1 percent – about 2.54 billion dollars – marking a fairly resilient performance. However, reigning cryptocurrencies BTC and ETH have gone down by 0.2 percent each. So, it’s no surprise that AI trading bot users have reported some pretty big losses.

TON Memecoin Show Unique Trajectory

The Block’s GMCI Meme Index, which tracks the prices of top memecoins by market cap, also went down by 2.88 percent. These numbers give you a clear picture of how memecoins are on a unique trajectory despite the bearish sentiment taking over the crypto market. This especially applies to coins that are part of the TON ecosystem.

So, what makes The Open Network so special? It’s the brainchild of the developer team behind Telegram, the popular messaging application that gained traction as an alternative to WhatsApp. The TON Platform has integrated some innovative crypto features that make it a lucrative choice for memecoins. Even though its native cryptocurrency, Toncoin, went down by 0.4 percent to 7.78 dollars, the ecosystem’s memecoins are holding their ground. This makes them a solid choice for AI trade bot users in today’s market.

Analysts Warm Investors Of Prolonged ‘Crypto Winter’

Nevertheless, the recent growth of these memecoins is an exception to today’s market conditions. In fact, Bitfinex analysts have warned traders about the chances that the current ‘crypto winter’ will last much longer than expected. According to these analysts, the main reason is growing pressure from regulatory bodies, which pose a threat to the crypto sector.

If analysts confirm that the TON memecoins will continue their current trajectory, it’s likely that AI crypto trade bot users will flock to them. After all, they’re a source of relief amid rising uncertainty, making them a viable choice for AI Bot trading.   

About author

Carl Herman is an editor at DataFileHost enjoys writing about the latest Tech trends around the globe.