The rapid rise of AI-backed cryptocurrencies in 2024 heralded a decisive turning point for the convergence between blockchain and AI. Fueled by market euphoria and enthusiasm for agentic AIs, these assets attracted massive capital flows, propelling their valuations to unprecedented heights. However, the enthusiasm evaporated as quickly as it appeared: within just a few months, some of these tokens lost up to 90% of their value. This collapse raises critical questions about the viability of these projects and the strength of the market. Are investors facing a mere correction after a speculative surge, or are we witnessing the beginnings of a lasting disinterest?