One of the latest projects making big waves in the Web3 AI scene is $WAI, which has raised an impressive $8.4 million. The surprise announcement comes amid price corrections within Ethereum (ETH) and a Shiba Inu (SHIB) rally to hold the support line. The success of $WAI illustrates a sharp increase in interest for AI-driven initiatives through the blockchain.

$WAI is currently priced at $0.000443. Projections point to a possible 1,747% return if the project follows through on its projections all the way to launch. Providing a remarkable multiplier at today’s price comparison, the final launch price for $WAI is $0.005242. In these early days since launch, the project has sold 22.7 billion tokens, showing very high initial adoption.

The $WAI token supply is deflationary in nature. Economic annual burns are planned to structurally increase long-term value of the platform as the use of the platform grows. While there are many blockchain ecosystems, the project will support 4 of the top 5 major blockchain networks — Ethereum, BNB Chain, Solana and Polygon.

Ethereum's current price stands at $2,511. That’s a 9.4% drop from its recent high of over $2,800. In spite of this pullback, utilization on the Ethereum network remains extremely high.

At the moment, more than 35 million ETH are locked inside staking contracts. This suggests a high degree of commitment from holders toward the long-term health of the network. Now, inflows into Ether-based ETFs have proven steady, with 19 consecutive days of inflows and a total of $1.37 billion in positive movement. Accumulation addresses for Ethereum are at an all-time high of 22.8 million ETH, indicating increasing investor confidence. As pointed out by technical analysts Ali Martinez, Ethereum’s 50-week exponential moving average is being closely watched for signs of further price direction.

As of writing, Shiba Inu (SHIB) is trading at just over $0.00001100. The cryptocurrency has since stabilized and has successfully held continued support at this level. This much-needed stability is of paramount importance for maintaining investor confidence and beating back any additional downward pressure.

The confluence of these events coupled with the changing cryptocurrency landscape is creating a perfect storm for a much more dynamic cryptocurrency market. While established cryptocurrencies like Ethereum and Shiba Inu navigate market fluctuations, emerging projects like $WAI are capturing investor interest with innovative AI-driven solutions and promising returns.