Solana meme coin ai16z price dips as profit leaders sell
Ai16z, the viral Solana meme coin focused on artificial intelligence, suffered a harsh reversal and moved into a local bear market.
This decline is mostly due to profit-taking, as the token was up by over 20,500% from its lowest level in November. Its market capitalization peaked at $2.3 billion earlier this week.
Ai16z (AI16z) dropped to a low of $2 on Saturday, Jan. 4, down by over 21% from this month’s high of $2.50.
Nansen data shows that the number of smart money holders has fallen from 118 in November to just 80 on Saturday. Their combined holdings have fallen from over 700 million tokens to below 500 million.
Based on their strong historical performance, smart money investors are usually more…
