Is Virtuals Protocol the New Black Hole of Crypto? 🚀💸

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In a shocking twist of cosmic irony, Virtuals Protocol has seen its daily revenue plummet to a staggering low of under $500 per day. Yes, you read that right—less than the price of a decent cup of coffee! ☕️ Meanwhile, the VIRTUAL token is tiptoeing ever closer to the oversold threshold, as if it were a cat on a hot tin roof, unsure whether to jump or just sit there and contemplate the meaning of life.

According to the ever-reliable Blockworks Research (which sounds suspiciously like a group of intergalactic accountants), Virtuals Protocol (VIRTUAL) has been generating less than $500 per day in revenue from launch and swap fees for most of late March and early April. It’s almost as if the universe conspired to make this a cosmic joke.

Flashback to early January, when Virtuals Protocol was basking in the warm glow of revenue generation, raking in between $200K and $350K daily. Ah, those were the days! But like all good things in the universe, this momentum was short-lived. By mid-January, revenue began its slow, painful descent, dipping below $100K per day by the end of the month. By late February, it had plummeted below $10K, and by the final days of March through early April, it was generating less than $500 per day. To put this into perspective, on January 2, Virtuals Protocol was generating over $500K in daily revenue when VIRTUAL hit an all-time high of $5.07. That’s a 99% decrease, which is quite the achievement in the realm of financial disasters!

Now, let’s talk about the VIRTUAL token’s price, which currently trades at a mere $0.45—down 91% from its ATH. After reaching its peak, the price took a nosedive into a sustained downtrend, falling below key moving averages like a clumsy elephant on roller skates. A critical technical development occurred when the 20-day Exponential Moving Average crossed below the 50-day Simple Moving Average, solidifying the bearish momentum like a stampede of pessimistic wildebeests.

Momentum indicators are further validating this downtrend. The MACD line remains stubbornly below the signal line, and while the histogram has started to flatten, it still hovers in negative territory like a bad mood that just won’t go away. The Relative Strength Index is at 31.06, just above the oversold threshold of 30, which is like being the last person picked for a team—barely scraping by.

But fear not, dear reader! On the bright side, Virtuals Protocol is currently in the top 10 projects in the AI agent sector, ranking as the sixth most-discussed project by mindshare with a 2.19% share, according to cookie.fun data. So, at least they’re still getting some attention, even if it’s akin to being the sixth most popular rock in a very dull quarry.

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2025-04-09 14:57