The meme coin CorgiAI (CORGI) has surpassed established competitor PEPE to become the fourth-largest meme token by market capitalization. Over the past week, CORGI has seen its value increase by 11%, coinciding with a 3% rally in the meme coin market.
CorgiAI is built on the Cronos blockchain and aims to support AI development through community engagement. With a token supply of 500 billion, the project allows users to create and trade AI-generated digital assets. The recent price surge comes as investors seek out new opportunities in the expanding niche of AI meme coins.
The meme coin sector continues its strong start to 2023, with multiple new entrants seeing digit returns. Dogwifhat (WIF), launched in December 2022, has appreciated 65% since its release and 34% over the past seven days. Now the sixth-largest meme coin, WIF has outperformed establishment meme token FLOKI.
Another new release seeing massive growth is BONK, which operates on the Solana blockchain. Added to exchanges in December 2022, BONK has already achieved over 1,100% returns during its first two months of trading. The success of new meme releases demonstrates the sector’s continued appeal to crypto investors.
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