ai16z Token Confirmed as Native Token for Auto.fun Platform
The native token of the newly launched Auto.fun AI agent platform has been confirmed as ai16z, marking a significant milestone for the project. This development could potentially lead to a turnaround for the ai16z token, which has been experiencing a period of stagnation in recent weeks.
Key Points:
- Shaw, founder of Elizalabs and the open-source elizaOS, announced that ai16z will be the native token of the Auto.fun launchpad.
- Auto.fun is a platform designed for developing and deploying autonomous AI agents for various tasks, such as DeFi yield farming, social media management, and automated trading.
- The project’s governance forum highlighted the utility mechanics of ai16z, including allocation of launch fees, access to new agent launches, and use in liquidity pools.
- The platform’s launch could potentially drive value to ai16z through increased utility and holding requirements.
Price Analysis and Potential Rally
With the launch of the Auto.fun platform, there is optimism for a potential rally in the price of ai16z token. Increased adoption and engagement with the platform may lead to a reduction in circulating supply and an uptick in buying pressure.
After trading in a range between $0.10 and $0.20 since March, signs of a potential recovery are emerging. Momentum indicators are showing increased bullish momentum, with the MACD line crossing above the signal line and the RSI pushing towards 50.
While there is currently price compression and tight ranges, the next target for ai16z is around $0.175, aligning with the 50-day SMA. A successful break above this level could lead to a rebound towards $0.20 and potentially $0.25, a key support level established in February.
