Following the initial remarkable surge driven by Binance’s listing, ACT price experienced a consistent decline. Yet, it took just one post from Elon Musk, and the world of AI coins is suddenly on fire again.
ACT I has seen an astonishing 90% price increase in the last few hours. This surge has impacted ACT I and launched a rally across the entire AI meme coin market on blockchains like Solana, Base, and Ethereum.
The excitement started when Elon Musk reacted to a screenshot from the ACT I Discord mentioning OPUS (CLAUDE). As only Elon Musk can pull off, that one reaction became a powerful catalyst. It catapulted ACT I to a market cap of $770 million before it corrected down to around $710 million.
This sudden rise is not just about ACT I. The entire AI meme coin sector seems to be catching fire. Projects on Solana, Base, and Ethereum have all started to trend upward, each seemingly pulling inspiration from the same meta.
A few days ago, we discussed ARATA, an AI-focused launchpad on Ethereum. Despite being undervalued compared to its counterparts on Base (Virtual) and Solana (VVAIFU), ARATA has now seen significant movement, hitting an all-time high (ATH) of $13 million in market cap.
Discover: AI Agent LaunchPad Are Pumping: VIRTUALS And VVAIFU Pump – Is ARATA Is Next?
The Rise of ACT I: How Binance First And Elon Musk Later Ignited the AI Meme Coin Surge
(ACTUSDT)
Act I’s first pump is connected to its listing on Binance. You can clearly see the green candle caused by the listing. Since then, ACT’s luck has started to turn. After a predictable, strong correction that sent ACT down 55% from the ATH, Elon Musk’s reply on X restarted the hype around the AI meta.
The chart shows a clear resistance level at $800 million. This is the point where ACT I’s recent rally faced rejection, indicating strong selling pressure at this level. If ACT I attempts another rally; this will be the key resistance level to watch for a potential breakout. There is a notable support level at $395 million. If the price corrects further, this level could serve as a bounce point for a reversal.
The RSI (Relative Strength Index) is at 77.35, indicating that ACT I is in overbought territory, often preceding a pullback or consolidation.
ACT’s price action appears heavily influenced by external factors, but it has now captured the attention of thousands of potential new investors who closely follow Elon Musk’s activity. And it’s also evident that AI projects are at the heart of the current market excitement.
This $ACT revival is sending almost all solana AI meme coins. pic.twitter.com/oQMjSwPozW
— Byzantine General (@ByzGeneral) November 29, 2024
EXPLORE: Is Solana Preparing For a 400% Rally? Will SOL Price Hit $1,000?
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