What has transpired over the last few weeks was unimaginable for most of us. Bitcoin hitting all time highs (much before the Halving) wasn't foreseeable half and a month ago. The more unimaginable was however the AI hype and a meme frenzy that it brought along. It's not something new in crypto but it's definitely different, especially because memecoins and AI token are rising prices in unison.

I personally am not a big fan of price tags be it any number. What I actually pursue is the value that anything brings along. In terms value brought, Bitcoin undoubtedly exceeds our expectations. However it becomes highly debatable when we apply this value proposition to AI tokens and more superficially to Meme coins.

I don't want to look like a pessimist so here's my positive perspective about Artificial Intelligence. AI is something that everyone is eying as the futuristic vision of technology. The proponents of AI believe that it has the potential to revolutionise automation in many fields alongwith blockchain industry.

Enough! who wouldn't have known this? Every Bitcoiner knows so much about automation. After all, Bitcoin in itself is an automated money. Does Bitcoin really need AI? The straight answer is No. Does Bitcoin need the support of AI tokens to flourish? Hell No!

Talking about memecoins frenzy, specifically the jump that a frog is making, is clueless. Now that we have entered in the extremist of greed zones, we should be ready to witness beyond imagination rallies for worthless coins like PEPE, FLOKi, SHIBA. I may sound a big critic but these tokens bring zero value with them. They are becoming more like a tool for 'pump and dump' schemes.

Let's make it a bit more clear. Can you imagine a Billion dollar market cap for a shitcoin that don't even have a million followers across all social channels. Okay let's talk a bit technical. The total number of PEPE tokens in circulation is more than 420 trillion coins currently. 171,107 individual wallets are holding them. But surprisingly 45% of the total supply is held by top 10 addresses and over 73% is held in top 100 wallets. Would you still be a part of the ride?

This is the similar case with most other memecoins and AI tokens. RNDR, one of the top AI tokens, has its 80% of the total circulating supply sitting in top 100 wallets. It quite the similar for other AI tokens as well.

Let's directly compare the above statistics to that of Bitcoin. The top 100 holder of Bitcoin merely hold 13% of total circulating supply. It's also worth noting that mr. Satoshi's wallet that holds roughly 5% has to be minus from that. Then the top 100 list could only reach 8%. Now our of it we know microstrategy holds about 1% and ETFs hold around 4%. Only 3% of total supply remain in top 100 whales baring Saylor and ETF companies.

One can clearly witness that most of the over hyped coins and tokens are basically the puppets in the hands of some gold diggers who won't mind running scams to quicken their boodle.