Kaito AI Price Surges 50% After AirdropWill the Rally Continue?

Kaito AI, a Web3 information platform, saw its token price increase 50% after its airdrop launched on February 20th. The token, KAITO, began trading at $1.12, rose to $2, and then settled around $1.75. Major exchanges like Binance, Coinbase, KuCoin, and Kraken listed KAITO within an hour of the airdrop. Of the total 1 billion token supply, 10% is for community claims, 35% for the foundation and core team, 32.2% for ecosystem growth, and 2% for Binance's Hodler program. Currently, 241 million tokens are circulating. On August 20th, 21.84 million more KAITO tokens, worth approximately $42 million, will be unlocked. Some analysts predict a possible price correction, and a bearish rising wedge pattern on the price chart suggests a potential drop to $0.87. For KAITO to reach $5, it needs a 180% increase from its current price, requiring it to break above $2 and $3 resistance levels.