The bear market in the second quarter of 2024 impacts a wide range of cryptocurrencies, with the Fear and Greed Index climbing to 76 as token holders continue to buy impulsively. The rising interest in AI cryptos has shifted focus to The Graph, Injective, and Raboo, among others. Particularly, investors are eyeing the Raboo presale, which is anticipated to surge up to 100x in 2024. This article delves into the prospects of AI-backed cryptos.

Market Sentiment Fails to Boost The Graph Token

Despite The Graph's recent partnerships with Ethereum and Solana to expand its ecosystem and simplify dApp development, its token value did not see a significant increase. In fact, within 24 hours, the price dropped by 12.4% to $0.31 between May 22nd and 23rd. Analysts predict a slight rise in The Graph token's price to $0.33 by May 30th if market excitement persists.

Injective Struggles Amid Price Decline

Injective's introduction of a new liquidity program and integration with MetaMask aimed to attract dApps and improve trading experiences. However, despite these efforts, Injective's token price continues to plummet, dropping by 4.5% over the past month to $25.58 each, with its market cap slipping below $2 billion. This decline has led token holders to explore alternative options like Raboo.

Raboo Leads the Adoption of AI-Generated Memes

Unlike many new cryptos, Raboo stands out with well-defined strategies for delivering on its promises, combining AI-generated memes and Social finance in its ecosystem. With a platform promoting community engagement through NFT trading and merchandise sales, Raboo is gaining popularity in the meme coin sector. Its ongoing crypto presale offers $RABT tokens at an attractive rate of $0.0042 each, empowering holders to participate in various challenges and earn extra tokens through the platform's SocialFi model.

Conclusion

Despite the strength of alternatives like The Graph and Injective, Raboo's innovative approach in AI cryptos has garnered significant attention, evident from its presale success. Analysts anticipate the true potential of AI-backed coins to unfold in the third quarter of 2024.