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- Memecoins and AI tokens posted a strong rebound earlier in the week.
- But memcoins maintained their dominance during the recovery period, topping PEPE and WIF.
After the bloody collapse of the past few days, the market rebounded on Monday, with memcoins and AI tokens leading the recovery.
It was among the biggest gainers on Tuesday Dujoyvat [WIF] And Bring [FET]. They posted double-digit gains Bitcoin [BTC] It has regained the $60,000 level.
In response to the recovery, market observer Plantz Capital male,
“Memes and AI will continue to be the leading narratives, in my opinion. Choose your fighters wisely.
Will memecoin regain its dominance?
The recovery extended on Wednesday and com. memecoins It still dominates the top gainers, according to CoinMarketCap Data. baby [PEPE] And Brett [BRETT] They rose 12% and 18%, respectively, over the past 24 hours.
However, last week, CryptoQuant founder, Ki Young Ju, announced Established Memecoin’s dominance in the altcoin market has declined. Based on this data point, Joe stated that he was “bearish” on memes but long on Bitcoin.
In fact, the recent market downturn has decimated the alternative media market, with memes like WIF declining by over 48%.
Despite posting gains of 15% and 11% on June 24 and 25 and reaching $2, WIF Market bias It was still bearish, especially on the higher time frame charts.
However, some memes like PEPE have flipped to a bullish bias and the recovery could be extended.
PEPE was above its short-term trend, the 50-day EMA (exponential moving average), and its daily close was above the low of $0.000012.
Source: PEPE/USDT, TradingView
To further evaluate Bluntz Capital’s assumption, AMBCrypto analyzed open interest (OI) rates, which track liquidity flows into derivatives markets.
In the last 24 hours, memes ranked second with a 7.5% increase based on Coinglass OI. DataThis indicates that more market liquidity is flowing into this sector. However, the AI sector came in at number 17.
across the Mimi slice, baby, Dogecoin [DOGE]WIF and WIF stocks registered the highest positive OI, indicating that the market was overly optimistic about these three stocks in the past 24 hours.
However, another market observer, Alex Krueger, opined that memecoins are “joke“ This is what only insiders can benefit from.
However, despite the decline in altcoin dominance, there is still significant traction in the meme sector compared to the rest of the market over the past 24 hours.
