The post ai16z Leads Solana Memecoin Surge in Price Rally appeared on BitcoinEthereumNews.com.

ai16z’s market cap exceeded that of Solana memecoins, reaching $2.5B. Whales collect ai16z as Layer-1 plans drive demand. AI16z has solidified its position as the top Solana memecoin in this wild price rally. It now boasts a market cap of $2.5 billion. This token has outperformed most of its competition in the past month by many folds. It has surged 30% per day and 180% for the week to an unbelievable 580% for the month as shown in CoinMarketCap. This meteoric rise has also put ai16z in fourth place for overall memecoin, surpassing only Dogecoin, Shiba Inu, and Pepe. The token just broke the market cap of Pudgy Penguin’s PENGU token. The ambitious roadmap of ai16z is the reason behind its popularity. The team has announced a Layer-1 blockchain, which is to be the hub for AI-driven crypto projects. This innovation has caught the attention of the crypto communities and fueled increased whale activity. Whale Accumulation Fuels Momentum The on-chain analytics platform, Lookonchain reported that, for the last few days, whales have been showing big ai16z accumulations. For example, a whale withdrew 1.86 million, with the rest at more than 10 million tokens. The new wallet received the freshly created SOL address that acquired 955,500 ai16z for 9,000 SOL. The trading volume for the token rose by 60% within the last 24 hours. That means growing interest from investors is seen, with analysts saying it’s AI technology being combined with blockchain, thereby driving the demand, which in turn positions ai16z at the helm of this trend. With daily trading volumes surpassing $260 million and a 147% spike in open interest to $63 million, ai16z is proving its strength in the market. While its current price of $2.41 reflects a 600% monthly gain, the token’s future growth may hinge on its…

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Filed under: News - @ January 4, 2025 12:11 am