The Sleepless AI (AI) token experienced a sharp price recovery on October 29, 2026, following substantial accumulation by a prominent market participant. On-chain data indicates that a high-volume trader, identified by the handle @Salem1299534, re-entered their position just five days after a complete divestment, triggering a significant shift in market momentum. This activity highlights the continued influence of large-scale holders, or whales, on the volatility and price discovery of AI-themed crypto assets.
Strategic Accumulation Triggers 25% Price Surge
According to monitoring data provided by on-chain analyst Ember, the trader executed a purchase of 7.445 million AI tokens approximately five hours ago. This transaction, valued at roughly $676,000 based on current market rates, directly correlated with a 25% increase in the token's valuation. The buyback represents a strategic return to the asset after the same entity had previously liquidated their entire holding.
The trader's recent activity includes:
- Repurchasing 7.445 million AI tokens in a single accumulation phase.
- Driving a rapid 25% recovery in the token's market price.
- Re-establishing a significant stake after a period of total absence from the asset.
Market Volatility and Previous Liquidations
The volatility observed in the Sleepless AI ecosystem over the past week is closely tied to this specific trader's maneuvers. Five days prior to the recent buyback, the individual sold off 20.06 million AI tokens, a move valued at approximately 1.89 million dollars at the time. That massive liquidation event caused the token's price to drop by 15%, illustrating the high sensitivity of the Binance Smart Chain (BSC) based asset to concentrated sell pressure.
"Trader @Salem1299534 completely sold off 20.06 million AI tokens 5 days ago, causing AI to drop by 15%. Today, they repurchased 7.445 million AI tokens, driving AI up by 25%", reported Ember via on-chain tracking logs.
The recent price action underscores the impact of liquidity and order book depth on mid-cap cryptocurrency projects. While the trader has only repurchased about one-third of their previous total holdings, the positive market reaction suggests renewed buyer confidence. As of October 29, market participants continue to monitor on-chain movements for further signs of accumulation or distribution that may dictate the next trend for the AI token.
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