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Lookonchain, an on-chain analytics platform, has noticed increased buying activity around ai16z, an AI agent meme coin. In a post on X, Lookonchain highlighted a notable trade made by a crypto whale. The whale, who invested $10 million in USDC to purchase 13.16 million ai16z two weeks ago, has recorded a significant profit.
Ai16z whale's high-stakes bet yields millions
The unrealized profit follows a market rally of over 30% on the meme coin as more traders gravitate toward the asset.
As of this writing, ai16z is trading at $1.22, a 40.43% increase within the last 24 hours. The community sentiment remains bullish, with a massive spike of 192.88% in trading volume to $122.77 million.
Arman ShirinyanNotably, the soaring value of ai16z has since increased the worth of the tokens acquired by the whale. The tokens are now worth over $15.66 million, which has led to an unrealized profit of $5.66 million.
Lookonchain said, "The whale dared to bet big – and it paid off."
This comment emphasized the risky nature of the investment. Notably, the on-chain platform highlights the calculated risk the whale took on a relatively new meme coin.
Comments from experts point out that although the whale’s trade was successful, retail investors need to remain cautious. They emphasized that the outcomes may vary and urged potential investors to research and check market dynamics.
Ai16z outpaces top meme coins
Ai16z, by the market rally, has taken the lead from notable meme coins like Shiba Inu (SHIB), PEPE and Dogecoin (DOGE).
Shiba Inu, for instance, has a spot price of $0.00002175, down by 2.11% in the last 24 hours. PEPE is trading up by 0.90% at $0.00001825, while DOGE is also experiencing a decline of 1.02% at $0.317.
The AI agent meme coin, launched in October 2024 at $0.007741, has soared quickly to its current price. This performance has outpaced the other big names in the meme coin sector within the same period.
Recently, there has been a shift in the meme coin ecosystem with new entrants like NEIRO competing with old assets, including DOGE and SHIB.
Tomiwabold Olajide
Dan Burgin
Alex Dovbnya