Ai16z is set to unveil its open-source launchpad, Auto.fun, as the AI16Z token trades at nearly 95% below its all-time peak.
In its roadmap for the first quarter of this year, Ai16z (AI16Z) revealed its intentions to introduce an AI-centric platform modeled after Solana’s (SOL) Pump.fun memecoin launchpad. This open-source platform will enable the development and execution of AI-driven projects utilizing the Eliza framework. Moreover, it will allow creators to earn fees from token trades, instead of those fees being taken in by the platform itself.
According to the founder of Ai16z, the launchpad is anticipated to be released as early as this week.
The forthcoming introduction of Auto.fun by Ai16z comes on the heels of Raydium’s LaunchLab launch this year, which was designed to compete with Pump.fun. However, while LaunchLab and Pump.fun focus on memecoins, Auto.fun aims to be their direct counter, labeling itself as an “anti-pump” platform, as stated by the founder.
In the meantime, the price of AI16Z has seen a sharp decline since the start of the year. After hitting an all-time high of $2.48 on January 2, the token has fallen to $0.1371 at the time of writing, reflecting a staggering nearly 95% drop. The price has consistently trended below the 20-day Exponential Moving Average since mid-January.
The Relative Strength Index currently stands at 42.50, having slightly bounced back from oversold conditions but still indicating a lack of strong bullish momentum. The RSI has largely remained low during Q1, showing minimal signs of potential upward movement so far.
Recent price patterns suggest that AI16Z is in a consolidation phase, fluctuating between $0.13 and $0.15 over the past two weeks. This range is just above a crucial support level at $0.10, where buyers appeared about a week ago, leading to a noticeable increase in trading volume. While this consolidation could imply accumulation, the absence of robust upward pressure indicates that the market is currently in a stance of observation, awaiting a decisive breakout or breakdown to determine its next direction.