Dogecoin and Hyperliquid's HYPE led weekly crypto losses as AI stocks lure buyers

Cryptocurrencies experienced significant losses during the past week, with Dogecoin and Hyperliquid's HYPE token leading the decline. Ether saw an 8% drop, while memecoins experienced even steeper falls. This downturn in the crypto market contrasts with a rotation into AI-related stocks, which attracted buyers and contributed to the broader stock market's performance. The equal-weight S&P 500 reached a new record high, indicating a shift in investor sentiment away from chipmakers and towards artificial intelligence companies. This divergence suggests that investors are prioritizing AI growth narratives over traditional tech sectors and digital assets like cryptocurrencies.