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COAI token just took a 5.87% hit, sliding down to $0.515. What's going on here?
The AI token space is seeing some serious pressure right now. COAI's drop actually looks worse when you realize the broader market only fell 6.3% - so this one's lagging behind.
A few things seem to be hammering the price:
Sector rotation is real. Money's flowing out of AI tokens as traders chase other narratives. Technical levels broke down, triggering more sell-offs. Whale wallets holding massive COAI positions are creating concentration risk - when big holders sneeze, small holders catch a cold.
The AI narrative that pumped these tokens earlier? Losing steam fast. Markets move in cycles, and right now AI sector tokens are feeling the heat as capital hunts for the next play.