Explainer: How this Crypto Trader Earns $3.16M as Venice AI Token Price Soars 2000%

Pooja Khardia
Updated
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Explainer: How this Crypto Trader Earns $3.16M as Venice AI Token Price Soars 2000%

Highlights

  • A crypto trader turned a $115k investment into a $3.16M profit as the price of the Venice AI token surged 2000%.
  • The trader invested early and sold at the peak before the VVV token's price dropped 45%, putting many in losses.
  • A bounce from the current level would result in the Venice AI token's recovery to $15 or even $32.

Venice AI token stunned the investors with a bull-supported launch and a price rally to $19.38. Not only that, many crypto exchanges listed the token almost immediately after the launch, providing additional visibility and credibility. However, even before this buzz, a crypto trader identified this opportunity and earned $3.16M within just a few hours. Let’s discuss how this happened and whether the token will rebound.

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Trader’s  Profits $3.16M Profit With Venice AI Token Price Rally

The VVV token is the native token of the Artificial Intelligence crypto platform, Venice, which is quite popular among crypto enthusiasts. After much anticipation, the token entered the market with a massive Venice AI token airdrop and rally, filling the early adopters with gains. One such benefiter is this crypto trader, which turned their $115K investment into $3.32M, making a profit of over $3.16M.

According to the Lookonchain post, this happened as the trader bought 414,845 VVV at an average price of $0.37. This took place on January 28, and the trader spent 48.6ETH ($115K) to purchase these tokens. Within a few hours, the Venice AI token price surged, increasing the holdings’ worth. However, the trader did not hold till the end and began selling a significant portion with the peak, earning $3.16M. With that, the trader spent its holdings at an average price of $8, but the price reached as high as $19.38.

Crypto trader $3M profit

This is why the profits would have been even higher, as the VVV price surged by 2000%. However, the surge did not last long, and the token struggles today.

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Bears Take Over VVV Token, What’s Next?

After hitting an ATH at $19.38, the Venice AI Token price has followed the downtrend, resulting in a 45% drop. At present, it trades at $10.21 with a market capitalization of $261.78M. Although the price has declined, the trading volume is $131.8M after a 90% surge, showing high investor interest.

Additionally, things are likely to turn with the Binaane listing of the VVVUSDT Perpetual Contract. Such crypto exchange listings often increase demand among investors, building bullish sentiments.

The VVV/WETH price has a descending trendline, which explains the ongoing downtrend. However, the price has entered the demand zone of $7.23 and $9.74, which acts as a potential buying zone, explaining the high trading volume. With that, the key Venice AI token price target is at the 0.5 Fibonacci retracement near $15.04 and the 0.618 retracement at $32.48.

As a result, the buyer’s activity could propel this trending AI crypto towards $15 before pushing the price to $22.84 and higher. However, a decline past the demand zone could result in a continuous downtrend.

Venice AI Token Price

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Bottom Line

This crypto trader’s experience matches the crypto market’s image, making a $3.16M profit in just a few hours. The trader became a millionaire after turning a $115k investment into a million. Regardless, the Venice AI token price dropped soon after, as the investors lacked bullish sentiments. However, with the building momentum amid the demand zone, the VVV token price may hit $32 in the bullish situation, but the decline past the demand zone would invite more bearish performance.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section. Here, she uses her expertise to deliver analytics, market insights, price predictions, and information on what’s trending in the crypto space, aiming to keep the crypto and web3 community updated with market trends and important insights. Known for a user-centric and straightforward writing style, Pooja is passionate about making crypto easy and accessible. Her writing blends market research with storytelling, helping readers stay ahead in a fast-paced industry. When not behind the keyboard, Pooja embraces her creative side through drawing and crafting. Connect with Pooja on LinkedIn or X.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.