Meme coins and artificial intelligence (AI)-linked tokens led gains in the past 24 hours as bitcoin and other major tokens started to reverse weekend losses.
Solana, dog-themed, and Base network meme coins jumped over 15%, while AI tokens zoomed over 17%, without a clear catalyst for the gains.
Whales purchased meme tokens MEW and SLERF, causing an 80% price increase in 24 hours. Profit-taking and macroeconomic factors caused the market decline.
Major tokens like ETH, SOL, and AVAX had a modest average rise of 5.5%, while the broader CoinDesk 20 index of major tokens increased by nearly 6%.
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