Crash! $VVV skyrocketed 20 times in half a year, but the technical indicators are already "overbought" – is this the last chance to buy or a meat grinder?

Buddy, today let’s talk about a coin — $VVV. This thing has surged 20 times in half a year, from $0.9745 all the way up to $19.48, hitting a new all-time high. Do you smell that? FOMO. But don’t rush, let’s let the data do the talking.

In the past few weeks, the AI token sector has overall warmed up. $TAO (Bittensor) rose 9% in seven days, $NEAR, $ICP, $Render, $Virtuals, $FET all gained over 10%. But $VVV skyrocketed 65% in the same period, becoming a top performer in the sector. Why? Because it’s one of the few projects truly applying blockchain technology to real-world use.

Venice AI, this platform, integrates mainstream models like DeepSeek, Grok, ChatGPT, Claude. You input a question, it automatically selects the optimal model, and emphasizes privacy protection. It’s free to use, but if you want to upgrade, subscription fees range from $18 to $200 per month. The recent surge of $VVV is driven by the AI hype — look at AI-related stocks like Sandisk, Micron, Western Digital, which led the S&P 500 this year. Anthropic’s valuation jumped from $380 billion a few months ago to $1 trillion, with an annual run rate (ARR) exceeding $30 billion. Traders believe Venice’s business is growing, so it’s worth this valuation.

Supporting data: SimilarWeb shows that from February to April, Venice’s website attracted 26 million visitors, up 15% year-over-year, with over 8.8 million monthly visits. User base is there.

Additionally, token burns are accelerating. The network continuously reduces circulating supply, with the lowest subscription tier burning tokens worth $2 each time. Last month, $166k worth of tokens were burned, higher than $146k the month before. So far, 42% of the circulating supply has been burned. Meanwhile, $VVV’s staking yield has risen to 14% — users can mint DIEM tokens with $VVV and get a daily credit limit of $1. This logic explains why trading volume and open interest in futures are hitting new highs.

But watch the technicals. On the daily chart, $VVV has long oscillated between $0.9745 and $4.90, forming a cup-and-handle pattern — a classic bullish continuation signal. This consolidation is part of Wyckoff’s accumulation phase, now entering distribution, often accompanied by FOMO. The price stays above all moving averages, bulls are in control. But it’s seriously overbought, and mean reversion risk is high. It might retest the key support at $10.

Note: As of May 12, $VVV broke its all-time high, reaching a peak of $19.48.

So, to chase or not? The data gives you the choice, but profits and losses are on you.

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