BEAT, the native coin of AI-music platform Audiera has surged higher in the last month. It has increased by more than 1,500%, reaching a new record high of $8.20, even though Bitcoin (BTC), and Ether(ETH) both fell about 25% and 30% respectively during the same time period.
BEAT/USD performance compared to BTC/USD (Bitcoin) and ETH/USD (1-month price performance). Source: TradingView
The key takeaways
- BEAT price rises due to strong platform revenue and excessive short-liquidations.
- AI is at the most overbought level, and this could lead to a drop of 35% in coming days.
Audiera’s Beat price has increased so much.
BEAT is one of the hottest AI trades in crypto, thanks to its outperformance. It’s driven by token liquidations, platform revenue claims and short sales.
Audience revenue and token burnings reinforce BEAT bull case
Audiera’s model of revenue-and burn has given BEAT a boost in its rally. This has allowed traders to pursue a more compelling story about value capture.
The project reported Between June 1 and 8, Audiera generated 772,045BEAT worth $2.87M at the stated price of $3.12 per week. Audiera reported that it had burned 770 545 BEAT during the same time period. This brings the total supply burned to 12,35 million BEAT.
Source: X
Burns’ reduction of BEAT’s future or available supply in comparison to its 1 billion token cap strengthens the scarcity story when demand rises.
The HYPE token economy of Hyperliquid has seen a 120% increase in price so far by 2026.
Related: Hyperliquid bear turns bullish after losing over $46M shorting HYPE
Hyperliquid, however, has shown a strong fit between product and market in continual trading. Audiera, on the other hand, is a newer model that’s less proven. BEAT could be vulnerable to sudden profit-taking in the event of a slowdown in revenue, slowed burn activity or reduced speculative interest.
Short squeeze boosts BEAT rally
BEAT’s rally was boosted by derivatives liquidations and traders who were betting against higher price increases.
BEAT saw $28,72 millions in short liquidations since May. This compares to $13.74million in long liquidations. The bearish traders suffered more than double the losses of bullish traders.
The daily liquidation bar graph from BEAT. TradingView Source
This is the classic example of short-squeeze. The BEAT’s price continued to increase, forcing traders who were shorting the currency to liquidate their positions. Due to the fact that closing a short bet requires you to buy back the tokens, the liquidations have added upward pressure.
This helped BEAT turn its rally into a vertical movement from an uptrend.
It also means that part of the rise was due to forced purchases rather than constant spot demand. BEAT will need to find new buyers if the pressure of short-liquidation fades.
The BEAT Price may drop by 35% this June
BEAT’s explosive price growth over the last month made the relative strength index, which measures the momentum of the market, the highest ever.
BEAT’s daily RSI was 96.87 on Thursday. This is way over its threshold for being considered to be too optimistic, which is 70. Audiera’s token rally is still vulnerable to sharp reversals if investors begin booking profits or buyers stop gaining momentum.
Daily BEAT/USDT price chart. TradingView
If BEAT pulls back from its resistance at $9.47, aligned with the Fibonacci line of 1.618, the chances are that it will fall to the Fibonacci line of 1.0, or around $3.71 in June, a drop roughly 35% compared to the current price.
A clear break above $9.47, the resistance level for BEAT in the next few weeks could lead to a rise towards its Fib 4.236 line at the $15 mark.
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Source: cointelegraph.com
