The total market value of AI Agent plummeted by 67%, and competition between Solana and Base is surging. Can old MEME survive on AI?

Author: Frank, PANews

AI Agent is unanimously recognized by the industry as one of the most important tracks worth paying attention to in 2025. However, with the recent sharp adjustments in the market, AI Agent has also experienced a sharp decline. Judging from the data, how big is the callback amplitude of AI Agent? What are the competition changes quietly occurring between chains? PANews conducted a survey on recent data changes in AI Agent.

The total market value of AI Agent has fallen by 67% in the past month

Cookie.fun data shows that as of February 10, there were 1,412 AI agents, with a total market value of about US$6.52 billion, a 67% drop from US$20.2 billion on January 15. At the same time, the number of agents continues to increase, with 116 new agents added in the past month, an increase of about 8.9%. However, from the perspective of growth rate, the current AI Agent's new growth rate has also slowed down.

According to data on January 15, the average market value of AI Agent at that time was about $15.07 million, and by February 10, the value had dropped to $4.61 million.

Judging from the distribution of the chain, Solana and Base are still leaders in the AI ​​Agent track. There are 793 AI Agents on the Solana chain, accounting for more than half. The number of AI Agents on Base is 379. In terms of quantity, Base's AI Agents are only less than half of Solana. However, in terms of total market value, Solana's AI Agent's total market value is about US$3.2 billion and Base is US$2.47 billion, which is not much different. Based on the average market value, Solana's AI Agent's average market value is about $4.03 million, while Base's average market value reaches $6.51 million. From this perspective, it seems that Base's AI Agent looks more valuable.

Judging from the changes, the decline in Solana's chain is indeed more. At its peak, the total market value of the AI ​​Agent on Solana's chain reached a maximum of US$11 billion, which is currently down 70%. Base's peak market value was approximately US$7.94 billion, down 68.8% during the same period.

Currently, there are 6 AI agents on Solana chain with a market value of more than US$100 million, namely FARTCOIN, AI16Z, ARC, ACT, GRIFFAIN, and GOAT. There are five BASE with a market value of more than US$100 million, namely VIRTUAL, TOSHI, FAI, AIXBT and VVV. However, the AI ​​Agent with the highest market value is now VIRTUAL, reaching $760 million. It is worth mentioning that Virtuals Protocol has been expanded to Solana on February 10th.

BNB Chain has developed relatively rapidly in the AI ​​Agent direction recently. Currently, the market value of CHEEMS and CGPT projects exceeds US$100 million. In addition, BNB Chain has seen a significant increase in recent Mindshare (the percentage of the total discussion on Twitter). On February 7, BNB Chain's Mindshare share was less than 4%, as of the time. On February 10, the data had risen to 21.86%.

BNB Chain's recent growth was mainly driven by two projects, one is Andy BNB, with a market value of about US$42 million on February 10, and Mindshare grew by 1.02 to 1.44% in the past seven days, and the other is CHEEMS, February 10 Mindshare on the day was about 0.97%, with a market value of about $144 million.

The top tokens are currently falling by more than 70%. Can old MEMEs

enjoy the spring again when they take advantage of AI?

From a classification perspective, the current tokens in the AI ​​field are still dominant with MEME and basic frameworks. Among them, the market value of AI tokens classified in MEME is about US$1.94 billion, and the market value of frameworks is about US$1.49 billion. The MEME category currently has the highest market value token, with a market value of approximately US$524 million. Its highest market value once exceeded US$2.7 billion, and its current decline was about 80%. The leading token in the framework category is VIRTUAL, with a current market value of US$760 million, with a maximum market value of US$3.3 billion, down more than 76.8%.

Another previously popular framework, AI16Z, has a maximum market value of US$2.7 billion, falling to US$270 million, with a pullback of 90%. Currently, the market value of AI16Z has rebounded slightly to US$450 million.

What is slightly surprising is that in the MEME classification, in addition to FARTCOIN, the second and third tokens ranked are TOSHI (market value of US$304 million) and TURBO (market value of US$271 million).

TOSHI was originally a pet-themed meme coin named after the cat of Coinbase founder and CEO Brian Armstrong. The token was issued as early as the end of 2023, and its market value exceeded US$300 million in 2024, and then fell to around US$30 million. By November 2024, with the rise of the AI ​​Agent trend, TOSHI tokens will transform into AI tokens based on VIRTUAL as the framework, and its market value will take off once, with a maximum market value of US$960 million. However, judging from the current product framework, TOSHI's main function is to automatically tweet, with only 779 Twitter followers.

Another third-ranked MEME token is Turbo, issued in April 2023 and is said to be the first MEME token generated by AI. The token is issued on Ethereum and is one of the few AI tokens issued on Ethereum and has a high market value. Previously, Turbo's highest market value reached US$990 million, and the maximum pullback rate exceeded 80%.

The trend is synchronized with MEME, and the value attributes are not

displayed yet.

Overall, the overall correction rate of AI Agent tokens with higher market value is generally more than 80%. For example, the earliest popular GOAT, had a maximum market value of US$1.37 billion, and the lowest market value fell to US$97.37 million, with a correction rate of more than 92%. When observing the market value curve of the top AI tokens, almost all of them are in the form of "drawn mountains".

GOAT Market Value Trend Chart

However, judging from the overall market changes, this trend is not unique to AI Agent tokens. In contrast, the trend of other categories of MEME coins is roughly the same. In terms of the market value share of the top, AI Agent tokens may still be the highest type. The only MEME tokens currently on the Solana chain with a market value of more than US$1 billion are TRUMP and BONK. In November 2024, there are 6 MEME tokens with a market value of US$1 billion.

Overall, the total market value of AI tokens in the crypto field is about US$6.67 billion, which does have a major pullback from the high of US$22 billion. However, in terms of the actual functions and capabilities of these AI agents, there are no explosive applications yet, and most AI agents are just tweeting or taking advantage of the popularity of AI. Perhaps because of this, the fluctuations of AI tokens are highly converging with MEME coins and do not show the proper value logic at all. As for whether the current market value of AI tokens has been undervalued? It should be noted that the valuation of DeepSeek, which is popular all over the world, was only US$8 billion on February 9. At least from this perspective, the bubble of AI Agents seems to be quite large.