<b>Crypto Market Correction: AI Tokens Lead Decline</b>

The cryptocurrency market has been witnessing a sharp correction phase, particularly among smaller projects with high beta values. While major assets like Bitcoin have shown resilience near the $80,000 mark, these smaller projects are experiencing double-digit drawdowns.

Among the top 3 worst performers in the last week are SKYAI, Pi, and Sky. SKYAI has seen a -23.46% correction, after hitting an all-time high of approximately $0.85 on May 6. The price plummeted to the $0.46 range.

The decline in SKYAI is attributed to 'sell the news' events following its recent listing on major exchanges like Bitget, as well as technical exhaustion due to its overbought Relative Strength Index (RSI) reaching an extreme level of 85. Additionally, a small number of 'whale' wallets initiated the sell-off, contributing to the price drop.

Pi has struggled to maintain its momentum above the $0.19 resistance zone, largely due to a lack of concrete updates regarding the Open Mainnet transition. This has led to speculative fatigue among traders, as they await version 26 of the ecosystem upgrades.

Sky, the governance token for the rebranded MakerDAO ecosystem, mirrors the slight bearish bias of the broader altcoin market. The decline is linked to a decrease in USDS stablecoin minting activity over the past week.