Will the price of ai16z reach $3 after the ByBit listing?

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Recently, the ai16z token has performed well due to its close association with the Solana meme coin and AI proxy theme tokens, reaching a record high. However, after the Bybit listing, its price increase has been relatively mild, although the market demand for such tokens still exists. We can explore the reasons why the price of ai16z has been relatively flat after the listing from the following aspects, and analyze the technical side to show more upside potential.

1. Reasons for the mild reaction to the Bybit listing

The market has expected AI tokens

Before the official listing of ai16z, there has been a lot of discussion and hype about the token, especially in terms of its relationship with the Solana ecosystem and AI proxy tokens. The market has high expectations for ai16z, and many investors have already hoarded the token, so the demand after the listing is relatively flat, and it has not shown the expected explosive growth.

Partial selling by whales

According to data from LookOnChain, whales have started selling ai16z tokens through limit orders, with the sales amount reaching $10.6 million. This whale behavior usually occurs in the profit-taking stage after a sharp rise in the token price. Investors tend to sell part of the token after reaching a certain profit target, which may lead to a stagnation or slowdown of price gains in the short term.

Market sentiment and the overall macro environment

Although the price of Bitcoin is close to $100,000, the overall market sentiment is relatively cautious. In particular, there are many uncertainties in the global economy and cryptocurrency market recently, and investors may be on the sidelines of newly listed tokens, which has affected the performance of ai16z on Bybit.

2. Technical analysis of ai16z: The bullish trend is still continuing

A pullback after a 12,000% increase

From $0.0121 in November to $2 now, ai16z has experienced an amazing increase of about 12,000%. However, profit-taking usually occurs after the increase, which is a normal market adjustment. ai16z has fallen about 25% from its peak at the beginning of the month, which also reflects the rational correction of the market in the short term.

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