The Venice Token price rally is starting to look less like a random altcoin pump and more like a carefully engineered supply squeeze wrapped in the hottest narrative crypto can sell right now: decentralized AI.
VVV surged another 18% today after Venice CTO Jesse Proudman revealed that subscription and credit purchases on AskVenice hit a new record, beating the previous high by 10%. Traders clearly liked that. Maybe a little too much.
Venice Token Supply Shock Keeps Growing
The real ignition point came earlier this month. On May 1, Venice cut annual token emissions from 6 million VVV to 5 million, marking the first phase of a broader reduction plan targeting 3 million by July. Less supply. Same speculative appetite. You know how this movie usually goes.
Then came the aggressive burn mechanism update on April 27. New Pro subscriptions now burn $2 worth of VVV instead of $1, directly tightening circulating supply as platform usage rises. Convenient timing.
And well, here’s the kicker: VVV already pushed to a 16-month high near $16 on May 9 before today’s continuation move added more fuel to the fire strtechingrally to $18.
AI Narrative Keeps Pulling Traders In
The StrikeRobot partnership announcement on May 11 added another layer of hype. Venice’s private AI infrastructure is now set to support humanoid robots with AI vision and decision-making capabilities.
That gave traders the “real-world utility” headline they’ve been craving in the AI sector.
Meanwhile, broader AI-themed altcoins also benefited as Bitcoin climbed above $80,000, helping speculative capital rotate back into high-beta plays like Venice Token.
Momentum Signals Flash Mixed Warnings Ahead
Technically, momentum indicators still scream bullish momentum. MACD and Awesome Oscillator continue reflecting strong upside strength, while community sentiment remains 84% bullish.
But let’s be real as the chart isn’t exactly calm anymore.RSI has pushed to 80, a level many traders associate with overbought conditions and possible mean reversion. CMF also sits near 0.26, a range often interpreted as potential selloff territory despite strong inflows.
If profit-taking intensifies, the $10 level in VVV price could become the key support zone traders watch next for Venice Token.