Ai16z is gearing up to launch an open-source launchpad Auto.fun as the AI16Z token trades 95% below its all-time high.
In its Q1 roadmap for this year, Ai16z (AI16Z) announced plans to launch an AI-focused platform inspired by Solana’s (SOL) Pump.fun memecoin launchpad. The launchpad will be open-source, and allow the creation and deployment of AI-based projects using the Eliza framework. Additionally, it will allow creators to earn fees from trading of their tokens, rather than having those fees absorbed by the platform.
According to Shaw, the founder of Ai16z, the launchpad is expected to be released as soon as this week.
The upcoming launch of Auto.fun by Ai16z follows the debut of Raydium’s launchpad LaunchLab earlier this year, which was created as a competitor to Pump.fun. However, while LaunchLab and Pump.fun cater to memecoins, Auto.fun positions itself as their polar opposite as it’s supposed to be an “anti-pump” platform, according to Shaw.
Meanwhile, AI16Z price has tanked hard since the beginning of the year. After reaching its all-time high of $2.48 on Jan. 2, the token has plunged to just $0.1371 as of press time, marking an almost 95% decline. The price has also been consistently trending below the 20-day Exponential Moving Average since mid-January.
The Relative Strength Index sits at 42.50, slightly recovering from oversold territory but still indicating weak bullish strength. The RSI has been subdued for most of Q1, showing little sign of upward breakout potential thus far.
According to the recent price action, AI16Z price appears to be consolidating in the range between $0.13 and $0.15 over the past two weeks. This range sits just above the key support level at $0.10, where buyers stepped in about a week ago with a noticeable pump in volume. While this consolidation hints at potential accumulation, the lack of strong upward momentum suggests that the market is in a wait-and-see mode, waiting for a clear breakout or breakdown before deciding the next direction.
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