Trump walked back on his tariffs surprisingly and now the market is screaming for the start of the new bull.

Memes have performed the best currently with tickers like $moodeng $wif outperforming greatly. Despite that, memes are not taking the bulk of mindshare according to @KaitoAI, with AI still achieving over 30% in mindshare.

A thesis I have for this is that certain AI projects are still pushing updates such as MCPs in the background whereas memes are still mainly acting as a risk-on indicator and are also possibly experiencing short squeezes across the board.

However, I remain skeptical that the current coins/narratives will be the true outperformers for the rest of this uptrend (if it does continue), especially since a lot of rotations are happening in a short period.

What do we make of that?