A crypto trader achieved a remarkable 1000% profit through AI16Z trading during the coin’s impressive rally. However, the Solana-based meme coin experienced a price drop amid a wave of heavy selloffs.
Key Points:
- The trader capitalized on a 430% surge in AI16Z’s value over the past 30 days.
- After reaching its peak, the trader sold 2.27 million tokens for $4.77 million, securing a profit of $4.47 million.
- The coin’s price plummeted by 15% today as widespread profit-taking began.
The meme coin, with a market cap surpassing $2 billion, has captured significant attention due to its rapid price increase. Despite today’s decline, the token hit a 24-hour high of $2.46, showcasing its volatility. 
Recent large-scale transactions by crypto whales highlight ongoing investor confidence. For instance, a whale recently purchased $4 million worth of AI16Z, indicating optimism about the token’s potential rebound despite current turbulence.
Current Status:
- AI16Z’s price fell to $2.03, though its trading volume surged by 55% to $459 million.
- On-chain data revealed a 42% increase in Futures Open Interest, suggesting a possible price recovery.
While AI16Z’s recent performance has impressed traders with substantial gains, the current profit-taking phase raises concerns about its long-term sustainability. Whale movements remain a crucial factor influencing the coin’s trajectory, and investors are closely monitoring whether AI16Z can sustain its bullish momentum.
