Key Takeaways:
- BAD token price pumped over 580% month-to-date.
- A 15% slip ahead for the BAD coin in the coming session.
- What’s the Bad Idea AI project all about?
YEREVAN (CoinChapter.com) — BAD, the native token of the Bad Idea AI project, price jumped 10% to $0.000000174 on Aug 15. The gains came as a part of a broader price rally, wherein the BAD coin rate grew 90% in a week and over 580% in August.
However, the chart above suggests a drop ahead. The relative strength index (RSI) diverged from the price action, hinting at a looming decline. While the price action printed higher lows, the RSI insisted on lower lows, which could mean draining enthusiasm from the investors.
The dropping trading volumes confirmed the bearish expectations. Notably, the BAD token price held on to a significant support level as of writing. But if a decline follows in the coming session, the likely target for BAD would be $0.000000147, or 15% lower than the current value.
Meanwhile, the AI token pumped on listing news from the Bitget exchange. Pseudonymous Shiba Inu lead developer Shytoshi Kusama commented on the news, calling Bitget “amazing,” while the Bad Idea team asserted they were on the road to tier 1 exchange listings.
What is the “Bad Idea AI”?
As mentioned, the Bad Idea AI coin is one of the tokens within the Shibarium ecosystem.
According to its whitepaper, the question of whether AI can “take the lead in token management and decision-making” is the main driving force behind the project.
However, the whitepaper also asserts that the project is experimental. Thus, a roadmap would not be appropriate. Bad Idea AI also lacks security audits as of writing. “In the BAD IDEA experiment, AI plays a pivotal role in governance, making its presence felt in every aspect of the project,” read the document.
The team allocated 58% of the BAD token to the public, while “Humanity’s last hope fund” got 10%, and the team itself got 4.2%.
The project generated approximately 831 trillion tokens in total and noted that “tokens are available on Uniswap for entertainment purposes only.” The latter statement is a head-scratcher, as the BAD token trading volume on Uniswap stood at nearly $5 million.
