AI coin Focai.fun (FOCAI) has experienced a significant increase in market capitalization with a rapid exit. FOCAI, which exceeded $ 50 million in market capitalization in just 11 minutes, attracted attention. Moreover, it currently has a value of $32.7 million and is still rising. The project is based on a platform called ElizaOS, which provides services specifically for artificial intelligence agents. This caused the project to attract attention. However, shortly after the launch, an insider investor managed to turn a $1,168 investment into $3.47 million.
AI coin makes a splash: $50 million in 11 minutes!
Artificial Intelligence (AI) coins refer to cryptocurrency tokens integrated with artificial intelligence technologies. These tokens are typically on the market to leverage AI in various ways, such as enhancing blockchain transactions, personalizing user experiences or facilitating automated trading. Recently, these coins have made a comeback. One crypto in particular has risen massively. The AI-focused cryptocurrency Focai.fun (FOCAI) entered the market today, overnight, and within minutes experienced a meteoric rise in market capitalization. According to GMGN market data, FOCAI surpassed $50 million in market capitalization just 11 minutes after going live. While it has since settled at around $32.7 million, the token continues to rise significantly and is currently priced at $0.0327.
The early trading frenzy saw a staggering volume, with 47 million FOCAIs traded in the first 48.2 minutes. The project leverages ElizaOS, a platform that offers tools and services specifically designed for on-chain AI agents. This unique focus attracted attention when a16z co-founder Shaw retweeted the project and expressed his support.
Insider trading has made one person a hefty profit
Just hours after launch, Onchain Lens monitoring revealed an extraordinary achievement. An individual investor, believed to be an insider, managed to turn just $1,168 into an astonishing $3.47 million within a three-hour period. This incredible 2973-fold return was achieved by buying 1.23 billion FOCAIs on PumpFun for 5.39 SOL (about $1,168) and then cashing them in at a much higher price of 16,070 SOL. It is important to note that Focai.fun is still in its early stages and the token price fluctuates significantly. Potential investors are strongly advised to exercise caution and conduct thorough research before making any investment decisions.
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