Viral Altcoin VVV Hits a New ATH: More Fuel Left or Time to Take Profits?

The token reached its record after rallying by roughly 112% over the past month. The cryptocurrency market has posted a slight increase over the past 24 hours, yet the best performer (from the top 100 club) isn’t Bitcoin (BTC) or another popular digital asset, but the lesser-known Venice Token (VVV). Its price exploded to a record high, with many analysts foreseeing further gains. However, some believe holding from here on could be risky, suggesting profit-taking might be the smarter move. The Major Pump Just a few hours ago, VVV skyrocketed to a new all-time high of almost $30. Shortly after, it lost some of those gains and now trades around $25.60 (per CoinGecko), up about 42% in 24 hours. The asset’s market capitalization surged past $1.2 billion, thus surpassing popular altcoins like Pi Network (PI) and Arbitrum (ARB) to become the 68th-largest cryptocurrency. VVV Price, Source: CoinGecko Perhaps the main catalyst for the surge is one of the project’s latest announcements. The team revealed that a total of $391,000 worth of VVV has been burned, which is the largest amount sent to a null address so far. The utility and capital asset of the Venice AI platform has a total supply o...