Market
MEME Act Could Ban TRUMP And Political Token Launches
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Sam Liccardo, a Silicon Valley congressman, proposed the MEME Act to stop TRUMP and other political tokens. The bill has practically no chance of passing, but it might be an important milestone.
Although the crypto industry is theoretically enjoying real political power, there are some cracks in the Republican coalition. If these cracks widen, a vital legislation like this could have a chance at success.
Can the MEME Act Stop TRUMP?
When President Trump launched his own meme coin, it crossed worrying new boundaries for the crypto space. Nearly half of its investors were complete novices to the crypto space, and scammers exploited the hype to steal $857 million in the first few days.
Now, freshman Congressman Sam Liccardo is trying to stop the trend by sponsoring his first piece of legislation:
“That wasn’t my plan when I ran for office, I can assure you. [Trump’s] behavior is so self-evidently unethical that it raises the question why isn’t there a clear enough prohibition [on political meme coins]. You need to have some enforcement mechanism and a private right of action helps to keep everybody honest,” Liccardo claimed in an interview.
Liccardo is the Representative for Silicon Valley, the US’ biggest tech hub, and he’s been in office since January. So far, it is unclear how many of the Valley’s tech firms support his first big Congressional effort.
Today, he proposed the Modern Emoluments and Malfeasance Enforcement (MEME) Act, which targets TRUMP and other political meme coins.
This act would block the President, members of Congress, other senior officials, and their family members from launching or endorsing any tokens under threat of civil and criminal penalties. It would also impose similar restrictions on commodities and securities.
If approved, the MEME Act would also demand that Trump disgorge all profits from his token launch.
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The rise of TRUMP and other political meme coins is causing prominent figures like Vitalik Buterin to worry about the industry’s direction. Blatant scams are impacting crypto’s credibility, and multiple foreign governments have launched or considered launching their own meme coins and rug pulls.
Several crypto community members believe these tokens are a stupendous mechanism for enabling political corruption.
Liccardo was very open about his intent to use this bill as an act of protest. He got 12 other Democrats to co-sponsor the bill, but it doesn’t have bipartisan support.
The Republican Party has shown clear signs that it’s very pro-crypto as advertised, but it’s important not to overstate the fact. Yet, even the GOP’s crypto skeptics would have no reason to oppose their President publicly.
In short, the MEME Act may not end up doing anything to stop TRUMP or the political meme coin craze. Still, Liccardo’s effort may be an important building block. It may help build future legislation or gauge the feasibility of GOP crypto skepticism.
Ostensibly, the industry has more political power than ever, but this power hasn’t faced a real test.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Crypto AI Agents Market Shows Mixed Signals Amid New Launches
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Crypto AI agents are showing mixed signals as the top 10 coins in this sector display varied performance. While some, like VIRTUAL, AI16Z, and AIXBT, have posted gains in the last seven days, others, including FAI and TRAC, continue to decline.
Despite this, Solana and Base remain dominant, accounting for 98% of the crypto AI agents market cap. Although the sector’s market cap is up 24.74% in the last 24 hours, it is still recovering from a significant correction over the past 30 days.
The Top 10 Crypto AI Agents Coins Show Mixed Signals
The top 10 biggest crypto AI agents coins are showing mixed signals. Some, such as VIRTUAL, AI16Z, and AIXBT, have experienced gains in the last seven days, while others are still in a downtrend, like FAI, which is down 28%, and TRAC, down 19%.
Despite the varied performance, Solana and Base continue to dominate the sector, accounting for 98% of the crypto AI agents market cap.
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Although the overall market cap of crypto AI agents is up 24.74% in the last 24 hours, the sector is still struggling to recover from the steep correction over the past 30 days.
According to CookieFun, the total market cap of crypto AI agents coins stands at $7.62 billion, with none of them surpassing $1 billion individually. This reflects the severe impact of the recent correction, particularly considering that VIRTUAL alone had a market cap of $4.6 billion on January 1, 2025.
VIRTUAL Is Still Struggling to Recover
VIRTUAL remains the most influential crypto AI agents coin, significantly shaping the narrative around the sector. It is down nearly 44% over the last 30 days but has gained almost 9% in the past seven days, hinting at a possible rebound among crypto AI agents coins.
However, despite announcing its expansion to Solana and launching Virtuals Ventures, its ecosystem fund, VIRTUAL has struggled to regain its earlier momentum.
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As seen with other AI coins, users are becoming more cautious about projects that rely on buzzwords like “artificial intelligence” or “AI agents” without clear utility. In contrast, AI coins targeting specific niche use cases have shown growth recently, indicating that while the AI coin narrative is still alive, it is no longer as dominant as it was a few months ago.
If VIRTUAL can regain positive momentum, it could test the resistance at $1.37 and potentially rise to $1.63. However, if the close support at $1.09 is tested and lost, it could drop to $0.93.
New Crypto AI Agents Launches Are Growing Again
After a brief period of stability, the number of crypto AI agents coins launched is on the rise again, increasing from 1,436 on January 28 to 1,488 on February 27.
This renewed growth signals a resurgence of interest and confidence in the crypto AI agents narrative. The continued launch of new coins reflects strong innovation and excitement within the sector, suggesting that the momentum behind AI-driven crypto solutions is far from over.
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This uptick in new launches could positively impact the entire sector by driving further adoption and expanding the ecosystem. As more projects enter the space, it could attract new investors and users, fostering greater liquidity and market activity.
The growing number of coins also indicates that the narrative could be becoming less about the hype and more about real utility, with fresh ideas and use cases emerging to push the industry forward.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
ETH Accelerates Losses Amid Market Turmoil
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Ethereum price started a fresh decline from the $2,350 resistance zone. ETH is now consolidating losses and might extend losses toward the $2,000 support.
- Ethereum is facing an increase in selling below the $2,350 zone.
- The price is trading below $2,250 and the 100-hourly Simple Moving Average.
- There is a key bearish trend line forming with resistance at $2,260 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could start a decent recovery wave if it settles above $2,250 and $2,350.
Ethereum Price Dips Further
Ethereum price failed to clear the $2,450 resistance zone and started a fresh decline, like Bitcoin. ETH gained pace below the $2,350 and $2,320 support levels to move further in a bearish zone.
The price declined over 5% and even traded below the $2,220 support zone. A low was formed at $2,123 and the price is now consolidating losses. It is showing many bearish signs below the 23.6% Fib retracement level of the downward wave from the $2,520 swing high to the $2,123 low.
Ethereum price is now trading below $2,250 and the 100-hourly Simple Moving Average. There is also a key bearish trend line forming with resistance at $2,260 on the hourly chart of ETH/USD.
On the upside, the price seems to be facing hurdles near the $2,220 level. The first major resistance is near the $2,250 level or the trend line and the 50% Fib retracement level of the downward wave from the $2,520 swing high to the $2,123 low.
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The main resistance is now forming near $2,350. A clear move above the $2,360 resistance might send the price toward the $2,450 resistance. An upside break above the $2,450 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,500 resistance zone or even $2,550 in the near term.
More Losses In ETH?
If Ethereum fails to clear the $2,250 resistance, it could start another decline. Initial support on the downside is near the $2,120 level. The first major support sits near the $2,050 zone.
A clear move below the $2,050 support might push the price toward the $2,000 support. Any more losses might send the price toward the $1,880 support level in the near term. The next key support sits at $1,750.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now below the 50 zone.
Major Support Level – $2,120
Major Resistance Level – $2,260
Market
Pi Network (PI) Might See a Major Price Correction Soon
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Pi Network (PI) is perhaps the most hyped altcoin of 2025. Its price has skyrocketed more than 200% in the last seven days, almost touching $3 in the last few days. Despite this impressive rally, technical indicators suggest that the uptrend may be losing momentum.
The DMI shows that buyers are still in control, but the narrowing gap between the +DI and -DI signals weakening bullish pressure. Meanwhile, PI’s RSI has cooled off from extreme overbought levels, and its EMA lines hint at a potential trend reversal, putting its bullish outlook at risk.
PI DMI Shows Buyers Are Still In Control, But This Could Change Soon
PI’s DMI chart shows that its ADX is currently at 37.6, after surging from 9 to 62.7 between yesterday and today. The Average Directional Index (ADX) measures the strength of a trend without indicating its direction.
It ranges from 0 to 100, with values above 25 signaling a strong trend and values below 20 suggesting a weak or non-trending market.
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PI’s +DI is at 23.6, down from 57 yesterday, indicating weakening bullish pressure. The -DI has risen to 20 from 1, showing an increase in bearish sentiment.
Despite this shift, the +DI remains above the -DI, confirming that PI is still in an uptrend. However, the narrowing gap between the directional indicators suggests that the uptrend is losing strength. If the +DI continues to decline and crosses below the -DI, it could signal the beginning of a trend reversal.
Pi Network RSI Is Back to Neutral After Staying In Overbought Levels
PI’s RSI is currently at 52.2, after reaching an extreme high of 95 yesterday and staying above 70 for several hours on February 26. The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements, ranging from 0 to 100.
Values above 70 indicate overbought conditions, suggesting that the asset may be overvalued and due for a pullback, while values below 30 indicate oversold conditions, signaling potential for a price rebound.
An RSI between 30 and 70 is generally considered neutral, with no strong directional bias.
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PI’s RSI dropping to 52.2 after staying above 70 and peaking at 95 suggests that the intense buying pressure has cooled off. This decline reflects a loss of bullish momentum and may indicate that PI is entering a consolidation phase.
The sharp pullback from extreme overbought levels suggests that profit-taking is occurring, increasing the likelihood of a temporary price correction.
However, as the RSI is now in the neutral zone, the next price movement will depend on whether buying interest resumes or selling pressure continues to build.
Pi Network Could Correct By 68% Soon
PI’s EMA lines remain bullish, with short-term lines above long-term ones, indicating that the uptrend is still intact. However, the recent movement suggests that this uptrend could be losing momentum, as confirmed by the latest DMI and RSI values.
PI continues to be one of the most hyped coins in the market, making headlines repeatedly. Recently, Moonrock Capital CEO Simon Dedic Alleges Wash Trading in Pi Network. Before that, the coin surged after Florida Businesses Started Accepting PI Coins.
The weakening buying pressure and rising bearish sentiment indicate a potential shift in the positive market sentiment of the last days. If the EMA lines continue to converge, it could signal an impending trend reversal, putting PI’s bullish outlook at risk.
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If PI can regain the strength of its uptrend, it could rise to test levels above $3 for the first time, possibly reaching $3.5.
However, if the trend reverses, the PI price could test support at $1.69. If this level is lost, it could continue to decline to $1.42. If even that support fails, Pi Network could drop as low as $0.8, marking a significant 68% correction.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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