The value of Bad Idea AI (BAD), the second largest memecoin Shiba Inu’s (SHIB) collaboration, has skyrocketed in the past 30 days. On-chain data provider Lookonchain highlights that BAD’s price has surged by about 500% in the past month, and reports that crypto whales are behind the rally in the altcoin.
High Whale Activity in Bad Idea AI (BAD)
Data indicates that the local presence of Bad Idea AI, the native asset of BAD token, has increased due to high whale activity. This is because whales, or large investors, have turned to small-scale altcoins like BAD to increase the value of their assets in order to make more profit, just like the majority of regular crypto investors. The presence of crypto whales with access to large amounts of assets creates significant buying pressure in small-scale altcoins like BAD, affecting the price instantly.
Especially, a large buy order has the potential to significantly increase the price of a small-scale cryptocurrency. In this regard, Lookonchain drew attention to the movement in the wallet of a major BAD investor holding 120.3 trillion BAD, which corresponds to 14.5% of the total supply of BAD. Lookonchain provided more information about the transactions carried out by this whale, stating that the wallet address spent 7.4 ETH to purchase 139.5 trillion BAD or 16.8% of the total supply within 15 minutes of the release of BAD tokens. It appears that the crypto whale, after selling 19.2 trillion BAD for 225 ETH or $414,000, currently holds 120.3 trillion BAD worth $19 million in seven wallets.
500% Increase in BAD Token Price
The collaboration between Shiba Inu and Bad Idea AI has caused a significant upward momentum in the altcoin. Shiba Inu recently tweeted that big things would happen as a result of this collaboration. According to CoinGecko data, with the positivity created for Shibarium and Shiba Inu ecosystems, BAD’s price has increased by 446% in the last 14 days. While the price of BAD token reached an all-time high of $0.000000193994 yesterday, it is currently trading at $0.000000143534, representing an 18.6% decrease.
Meanwhile, the number of investors in BAD has surpassed 10,700, ranking it 291st on the crypto data platform CoinMarketCap and officially listing on TrustWallet, reaching a significant milestone. Furthermore, Bad Idea AI achieved an important success with a LunarCrush AltRank of 131 among the top 4,483 cryptocurrencies, thanks to increasing social interactions.
