Weekly roundup: LADYS and PEPE prices drop, AI tokens recover, Hydra mainnet release drives Cardano higher - ELEVENEWS

• Milady Meme Coin and Pepe prices have declined as the narrative declines and large volumes of tokens hit exchange wallets. 
• Artificial Intelligence (AI) tokens Render, SingularityNET and Fetch.AI started their recovery in light of announcements by technology giants. 
• Hydra Head, Cardano blockchain’s scaling tool went live on mainnet on Thursday, fueling a recovery in ADA price. 

Prices of main crypto assets dipped further this week, with Bitcoin and Ethereum close to two-month lows. In the meme coin space, Pepe the frog had a tough week as Milady Meme Coin took the center stage after Elon Musk tweeted about it. 

Meanwhile, big investments in Artificial Intelligence unveiled this week by big US corporate giants could fuel AI-related tokens, and Cardano got some support from the launch of its Layer 2 scaling solution Hydra. 

LADYS, PEPE prices decline as meme coin season narrative loses relevance

Milady Meme Coin (LADYS), Pepe coin (PEPE) prices have declined as the meme season narrative loses its popularity among crypto traders. LADYS price nosedived 62% after hitting an all-time high of $0.00000017 on May 11 and PEPE lost 70% of its value from record high of $0.00000431 on May 5. 

Experts at Santiment discussed in a recent report on meme coins how these tokens derive their value from speculation and catalysts like social dominance. As other narratives like Artificial Intelligence (AI) and Ethereum layer 2 gain prominence, the hype surrounding the two meme coins is likely to drop lower. 

Join our Telegram Channel