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VIRTUAL leads AI token flows, but is price growth really fueling it?
Virtual [VIRTUAL] has taken the top spot in net inflows among AI tokens, with a staggering $567.05K in net inflows over the last 24 hours. While this influx of capital is unprecedented, an examination of the data reveals that the price action doesn’t necessarily justify the surge in demand.
The token’s net inflows far exceeded other tokens in its category, outpacing total inflows of $7.01M and narrowly surpassing outflows of $6.44M. This substantial movement typically signals rising interest from market participants, often preceding a significant price increase. However, VIRTUAL’s price has only seen a modest 2.72% hike in the last 24 hours, trading at around $0.722.
A closer inspection of the charts reveals that despite this influx of capital, the token remains entrenched in a long-term downtrend, with its price still below both its 50 EMA and 200 EMA. Additionally, an analysis of the Aroon indicator shows the Aroon Down (orange) holding above the Aroon Up (blue), indicating that bearish sentiment persists.
Contrary to expectations, these technical indicators suggest hesitation among buyers and a lack of conviction in the market. Furthermore, the data suggests accumulation rather than speculative churn, as wallet growth has been consistent and there is no visible evidence of sharp sell-offs or mass wallet abandonment.
Source: https://ambcrypto.com/virtual-leads-ai-token-flows-but-is-price-growth-really-fueling-it/
