The Venice Token price has continued its strong surge this month and is now trading at its all-time high. VVV token was trading at $15.2 on Sunday, a few points below the record high of $16.65. It remains nearly 1,500% above its lowest level in December last year. Venice Token price rallying amid growing usage and token burns AI tokens have done relatively well in the past few weeks. For example, Bittensor (TAO) token has jumped by 9% in the last seven days. NEAR, ICP, Render, Virtuals, and FET have all jumped by over 10% in this period. Venice Token, on the other hand, has jumped by over 65% in this period, making it one of the top gainers in the industry. This surge happened because it is one of the top projects bringing real-world application of blockchain technology to the real world. For starters, Venice AI operates a platform that integrates most AI models like DeepSeek, Grok, ChatGPT, and Claude. Users enter their queries and then the platform selects the best model to use, while emphasizing privacy. Venice uses a freemium model. Users can use its platform for free or pay for tiered subscriptions, which start at $18 all the way to $200 a month. The VVV token has soared this year because of the ongoing hype around AI that has pushed top assets to record highs. For example, AI companies like Sandisk, Micron, and Western Digital are the top gainers in the S&P 500 Index this year. Similarly, AI companies have seen their valuations surge, with analysts placing Anthropic’s real value at over $1 trillion, up from $380 billion a few months ago. Anthropic’s annualized run rate (ARR) has jumped to over $30 billion. Therefore, traders believe that Venice should also have a similar valuation because of its ongoing growth. SimilarWeb data shows that Venice’s website had 26 million visitors between February and April, a 15% increase. Its monthly visits have jumped to over 8.8 million. Token burns accelerating The VVV price has also soared because of the improving tokenomics as the network continues to incinerate its tokens. Data shows that the network continues to remove tokens in circulation. This trend will continue after they added the fee burn rate. For example, a subscription to the lowest package is burning $2 worth of tokens. As a result, according to its website , it burned tokens worth over $166k last month, up from $146k in the previous month. It has already burned about 42% of the circulating supply. At the same time, investors are buying the VVV token because of the rising yield, which now stands at 14%. Users can use their VVV tokens to mint their DIEM tokens, which gives them $1 of daily credits to spend on the Venice AI platform. These numbers explain why the volume of VVV tokens traded in exchanges has continued rising this month. Also, the futures open interest has continued to rise and is now at the highest level this year. Venice Token price technical analysis VVV token price chart | Source: TradingView The daily chart reveals that the VVV token price remained inside a narrow range of between $0.9745 and $4.90 for months. It even formed a cup-and-handle pattern, a common bullish continuation signs in technical analysis. The consolidation phase was part of the accumulation stage of the Wyckoff Theory. As a result, the coin has now moved to the markup phase, which is normally characterized by Fear of Missing Out (FOMO). The coin has remained above all moving averages, a sign that bulls remain in control. However, it also poses a mean-reversion risk, where an asset moves back to its historical averages. This mean reversion angle is possible as the coin has become highly overbought. As such, there is a likelihood that the token will pull back, and possibly retest the key support level at $10.l The post Venice Token price: Why this AI crypto coin is soaring and what next appeared first on Invezz
