New AI Meme Coin WienerAI Soars 91% In 24 Hours As Crypto Market Rebounds

WienerAI ($WAI) Surges Amid Market Recovery

WienerAI ($WAI) has witnessed a remarkable 91% increase in the past 24 hours as the cryptocurrency market signals a recovery. The meme coin concluded its presale on July 31st, securing an impressive $9 million to develop its AI-powered crypto trading chatbot, hailed as the "ChatGPT of crypto."

Despite an initial setback on Uniswap due to liquidations during "Black Monday," investor confidence has been renewed. As the market stabilizes, investors have returned to $WAI, bolstering its value.

Strong Uptrend Following Listing

Since its listing on Monday, WienerAI has experienced a significant 48-hour uptrend. Opening at $0.0004106, $WAI initially dropped by 50%, only to swiftly recover and establish an upward trajectory on the 1-hour chart. It currently trades at $0.0006683, approaching its presale price of $0.0007231.

Token Burn Drives Price Appreciation

In addition to investor confidence, a recent token burn has propelled $WAI's price upward. The burn removed 30% of the total supply, making the remaining tokens more valuable. With 9 billion $WAI already staked, the circulating supply is approximately 40 billion tokens, contributing to its scarcity and potential for price appreciation.

Market Factors Favor Meme Coins

Broader market conditions have also influenced the sentiment towards $WAI and meme coins. Spot Ether exchange-traded funds (ETFs) experienced a surge in inflows on August 6th, indicating a return to risk-seeking behavior among investors.

ICO Cryptos Outperform in Market Downturn

As evidenced by WienerAI, ICO cryptos have demonstrated resilience during market downturns. Investors have shown interest in hidden gems with clear utility.

Similar to $WAI, other presale tokens have gained traction. Pepe Unchained ($PEPU) has raised $7.5 million with its Layer 2 chain on Ethereum. BaseDawgz ($DAWGZ) and PlayDoge ($PLAY) offer unique utilities, such as multi-chain functionality and a crypto remake of Tamagotchi.

This trend highlights the evolving nature of the market, where meme coins not only provide entertainment value but also offer valuable utilities.