Virtuals Protocol Revenue Crashes 99% Amid TRUMP, MELANIA Meme Coin Hype 📉
Virtuals Protocol, an AI agent platform, has seen a dramatic 99% drop in daily revenue, decreasing from $1.58 million to $21,927 within weeks. This decline has sparked concern in the crypto community.
The rise of meme coins, particularly TRUMP and MELANIA tokens, are believed to have diverted attention and liquidity from stable AI markets, driving a 10% decrease in AI token market capitalization.
An X user highlighted the "dilution of value" due to many concurrent launches suppressing sustained attention on any single project, suggesting these factors contributed to Virtuals Protocol's decline.
The Protocol now faces the task of re-engaging investors distracted by meme coin fervor.
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