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Bitcoin’s fall on August 5, 2024, also known as Black Monday, saw more than $360 billion worth of crypto wiped out from the market. WienerAI (WAI), one of the most prominent tokens to have been listed after running a successful presale, also took the brunt of it.
Shortly after listing, a large red candle formed on the price chart, signifying a major drop of 86% for the WienerAI price.
However, a significant bounce then pushed the WienerAI price back up to its all-time high. With the MEXC listing today, can the AI crypto climb to new highs?
WienerAI Price Prediction – Rapid Decline Post Listing Before Bounce
WienerAI was one of the most successful presales this year. With over $8 million raised during the presale, the community anticipated that it would explode once it landed on decentralized exchanges.
The market conditions were looking promising initially, as WienerAI painted a green wick, indicating a 22% rise.
However, Bitcoin’s tumble to its $50k mark led to the WienerAI price drop. A rapid sell-off happened, with many investors cashing out their tokens, leading to a drop of more than 86%.
However, the terrible market conditions couldn’t hold the token down for long, as DEXTools shows that supporters rallied around the token, creating a bounce that led to a 595% increase in the WienerAI price. The token’s all-time high was $0.0008.
A correction soon followed. However, at the time of writing, WienerAI is trading around the $0.00045 level. Therefore, those who participated in the WAI presale during its first stage are still generating profit.
Jacob Crypto Bury, one of the leading crypto-centric YouTubers with over 41k subscribers, has given a deeper analysis of this price action