The post AI Cryptos Crash On FOMC Panic, Is WienerAI The Best Altcoin To Buy The Dip appeared on BitcoinEthereumNews.com.

AI coins are witnessing a broad-based correction, primarily due to the massive ongoing derisking before the upcoming CPI and FOMC.  Even Apple’s landmark partnership with OpenAI failed to inject strength into the AI sector, with Worldcoin – a brainchild of OpenAI CEO Sam Altman – down 12% over the past 24 hours.  Meanwhile, new crypto presales are in high demand, primarily because they remain unaffected by the broader market sentiment. For instance, WienerAI – a new AI-powered meme coin – has already raised close to $5.5 million in its ongoing presale.  AI Cryptos Crash Pre-FOMC – Buy The Dip? Data from CoinMarketCap reveals that the AI crypto market capitalization is down by 7% over the past 24 hours.  Most top tokens, including Near Protocol and Injective, are down by 10%, while Render (RNDR) has corrected by close to 15%.  Fetch.ai, SingularityNET and Ocean Protocol prices have also dipped by over 10%. More importantly, these three tokens are down by 4% in the past hour, after the ASI merger has been postponed by over a month.  ASI – or the Artificial Superintelligence Alliance – is a new AI coin, set to be created by the merger of FET, AGIX and OCEAN tokens. Initially, the merger was set to start today on June 11th and conclude by June 13th. However, the project’s X account announced a postponement due to logistical issues.    https://t.co/jf83tXYS2P — Artificial Superintelligence Alliance (@ASI_Alliance) June 11, 2024 However, the weakness in the AI sector cannot be solely attributed to fundamental issues. The broader crypto market, including Bitcoin and Ethereum, has crashed by 5% today.    Experts believe that investors are derisking right before the key macroeconomic events set to take place tomorrow on Wednesday. The Consumer Price Index for May will be released at 8:30 AM Eastern Time. …

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Filed under: News - @ June 12, 2024 10:26 pm