Virtuals Protocol Token Faces Increased Market Turmoil
On June 22, Virtuals protocol’s token continued its decline. Teh price fell to $1.35, its lowest since May 8. This represents a drop of 46% from its high in late May.
The token’s fall highlights challenges in its ecosystem. Demand for its AI agent tokens has dropped. Revenues and user engagement are also down. Daily active users and smart money holdings have plummeted. In contrast, exchange balances have risen.
- GAME token by Virtuals lost 24% in the past 24 hours.
- Ribbita, VaderAI, and AIXBT tokens fell over 30% in the last week.
Revenue for Virtuals Protocol reached $3.5 million in january. But it made under $200,000 this month, a steep drop from last month’s $770,000.
Active addresses have also dropped to below 12,000, from a high of 30,000.
The VIRTUAL price chart on the 12-hour view peaked at $2.5850 in May. It’s now formed a head-and-shoulders pattern, suggesting further downward movement. The token is below key levels like $1.6125 and the 50% Fibonacci Retracement, indicating a bearish trend.
Traders may target $1, down 28% from now. A move above $1.6125 could change the trend to bullish.
