- Venice Token has jumped by nearly 1,000% from its lowest level in January.
- The VVC token burn has continued soaring as the number of users jumped to over 2 million.
- The token may have a strong bearish breakdown in the near term after getting overbought.
Venice Token price continued its strong rally and is hovering near its all-time high. The VVV token jumped to a high of $9.55, a few points below the all-time high of $10. It has jumped by over 932% from its November last year low, and this rally may continue as key metrics surge.
Venice Token Price Surges Amid Encouraging Metrics
The VVV token price has continued to rise over the past few months, with its market capitalization soaring to over $400 million.
This surge happened as valuations of artificial intelligence (AI) jumped. For example, OpenAI is now valued at over $800 billion, while Anthropic’s valuation has also continued rising.
Venice Token’s valuation also continues to rise, with user numbers surpassing 2 million. This is a significant development for a company that hasn’t raised billions like Anthropic and OpenAI.
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Furthermore, more data shows that the ecosystem is doing well, with the amount of VVV tokens burned soaring to $122k this month, after $115k the month before. It has burned VVV tokens worth over $415k, with $76k to $119k unlocked in the next 18 days.
Additional data indicates that the amount of VVV tokens staked has bounced to 31.42 million, which is about 69.12% of the circulating supply. The sVVV (Staked Venice Token) committed to DIEM minting has jumped to 8.3 million.
The burn rate will likely continue to burn VVV tokens in the coming months as the number of users continues to rise. This surge is expected to continue as the network adds more features, including Gemma 4 Uncensored, Grok 4.1, and Seedance 2.0.
VVV Price Prediction: Technical Analysis
The daily chart shows that the VVV price has surged in the past few months, moving from a low of $0.9378 in December to nearly $10 today.
It has soared above the key resistance level at $4.7640, its highest point in August last year. This price was on the upper side of the cup-and-handle pattern.
The token, however, has remained above the 50-day and 100-day Exponential Moving Averages (EMAs), raising concerns that it may be in a mean-reversion. Also, the Relative Strength Index (RSI) and the Aroon Oscillator have moved to the key overbought level.
Therefore, there is a likelihood that the Venice Token price may break down sharply, potentially to the key support level at $8.4854, its highest point on March 1. A drop below that level will signal more downside, potentially to the key support at $4.7640.
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