As Dogecoin Overtakes Entire AI Cryptocurrency Sector, Crypto Analyst Emphasizes 'Trillion-Dollar Opportunity': 'You're Still Early'

Dogecoin (CRYPTO:DOGE) has outperformed the entire Artificial Intelligence (AI) cryptocurrency market sector in terms of market cap.

On Friday, cryptocurrency analyst Miles German She shared this insight on

AI will be one of the biggest bubbles in financial history.

But it's just getting started.

until $dawgENTIRE's market capitalization is larger than the entire AI crypto sector.

This is a trillion dollar opportunity, and it's still early days.

: My Ultimate Crypto Guide × Artificial Intelligence (+ Top Picks).

– Miles Deutscher (@milesdeutscher) March 8, 2024

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This development underscores the ongoing popularity of the meme coin and the speculative nature surrounding AI-themed cryptocurrencies, which Deutscher suggested may have more to do with hype than actual technological progress.

While AI coins serve as proxies for major AI events and conferences, Deutscher cautioned that not all of them have real AI technology. Instead, the term “artificial intelligence” is often used as a buzzword to attract attention and investment.

For this reason, “AI Coins” have been great surrogates at major AI events and conferences, and will likely be so for the foreseeable future.

But here's the truth: most AI currencies are not actually AI. They are simply leveraging AI as a buzzword to generate hype.

– Miles Deutscher (@milesdeutscher) March 8, 2024

Although AI is ranked 20th in terms of size, with a total value just below Dogecoin's market capitalization, Deutscher believes AI will climb into the top five to 10 sectors in the coming years.

However, the rise of AI in the cryptocurrency space has also led to an increase in AI-based scams, with deepfake videos of prominent crypto figures being used to deceive investors.

Such advances in AI technology pose significant challenges in distinguishing between genuine and fraudulent content.

At the time of writing, DOGE is at $0.1732, up 24% in the past seven days.

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