AI16Z Token Surges 34% Amid $500 Billion AI Investment Announcement
AI16Z has become the market's top gainer, with its price skyrocketing by 34% in the past 24 hours. The surge follows former President Donald Trump's announcement of a $500 billion initiative to bolster AI infrastructure in the U.S.
During a White House event, Trump revealed the Stargate project, a partnership between Oracle, SoftBank, and OpenAI. The joint venture aims to invest $100 billion initially, scaling to $500 billion within four years to develop advanced AI data centers and infrastructure.
The news has driven significant demand for AI-based crypto assets, with AI16Z leading the rally. Currently trading at $1.20, the token shows strong bullish signals, including a rising Relative Strength Index (RSI) and a positive funding rate of 0.011%. These indicators suggest growing buying pressure and market optimism.
If bullish momentum continues, AI16Z could revisit its all-time high of $2.50. However, a bearish turn may push its price down to $0.68.
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