Virtuals Protocol token continued its sturdy downward pattern on Sunday, June 22, as its ecosystem woes accelerated.
Virtuals Protocol (VIRTUAL) worth tumbled to a low of $1.35, its lowest stage since Might 8. It has dropped by greater than 46% from its highest level on Might 27 this yr.
Virtuals Protocol’s sharp decline displays a broader unraveling of its once-promising ecosystem, as falling demand for AI agent tokens, slumping revenue, and dwindling consumer engagement weigh closely on investor sentiment.
With day by day lively addresses and good cash holdings plummeting, and alternate balances rising, the information factors to rising promote strain and fading confidence within the platform’s utility. The collapse in VIRTUAL’s worth and sub-tokens underscores the mounting challenges dealing with speculative AI-driven crypto initiatives in a cooling market.
Ecosystem challenges proceed
Information exhibits that the costs of most of its AI agent tokens have been in a powerful downtrend. For instance, GAME by Virtuals (GAME) token plunged by over 24% within the final 24 hours.
Equally, Ribbita by Virtuals, VaderAI, and aixbt (AIXBT) tokens plunged by over 30% within the final seven days.
Extra data exhibits that Virtuals Protocol is not making as a lot cash because it made earlier this yr. It revamped $3.5 million in January as AI agent era and demand jumped. It has made lower than $200,000 this month, a giant drop from final month’s $770,000.
Additional data exhibits that the variety of day by day lively addresses has dropped to beneath 12,000, down from the year-to-date excessive of 30,000.
VIRTUAL’s worth has plunged as alternate balances have jumped by 22% within the final 30 days to over 33.67 million. Whale holdings have dropped by 5% to 1 million, whereas good cash holdings fell by 46% to 10.4 million.
VIRTUAL worth technical evaluation
The 12-hour chart exhibits that the VIRTUAL worth peaked at $2.5850 in Might as cryptocurrencies rallied. It has fashioned a head-and-shoulders sample, a well-liked reversal sample. This sample contains a head at $2.5850 and the shoulders at round $2.20. It has moved beneath the neckline at $1.6125.
Virtuals Protocol has moved beneath the 50% Fibonacci Retracement stage at 1.50. It additionally moved beneath the 50-period and 100-period transferring averages, whereas the Relative Power Index and the MACD have all pointed downwards.
The token will possible proceed falling as sellers goal the psychological level at $1, down by 28% beneath the present stage. A transfer above the resistance at $1.6125 will invalidate the bearish outlook.
