Newly launched altcoins often receive a lot of hype, resulting in their initial price jumps. However, historical data reveals that most of these face a sell-off right after that, continuing for weeks or even months.

ANIME, the native token of the Animecoin Foundation, surged 12% after the major South Korean exchange Bithumb announced its listing of the meme coin. Animecoin (ANIME) rose to an intraday high of $0.0502 on Jan.

The crypto market's recovery has not benefited all altcoins, as some continue to face sharp declines. While Bitcoin holds steady at $102,200, several altcoins remain in a downtrend, struggling to regain momentum.

Azuki launched the Anime.com Web3 platform. Anime.com allows users to watch content, create their own avatars, and trade NFTs on the platform.