On February 7, 2025, at 10:30 AM UTC, Coop announced the launch of their third song token, $SWEET, following a vote by 4,550 COOP holders to graduate 'Sweet Memories' by Zeds Dead. The token distribution included a 10% collector airdrop, 5% allocation to Zeds Dead, 5% to Coop Recs for campaigns, and 1% to voters. The smart contract address for $SWEET is 0x8da2A47f76d928A97a8F44498dB25aA787198087 (Source: @Cooopahtroopa on X, February 7, 2025). This event immediately impacted the market, with $SWEET opening at $0.50 and reaching a high of $0.62 within the first hour of trading. The trading volume surged to 2.3 million $SWEET tokens in the initial hour, indicating strong market interest (Source: CoinMarketCap, February 7, 2025, 11:30 AM UTC). The announcement also led to a 3.5% increase in the value of COOP token, trading at $12.50 by 11:00 AM UTC (Source: CoinGecko, February 7, 2025, 11:00 AM UTC).

The launch of $SWEET presents several trading opportunities. The immediate price surge suggests strong initial demand, potentially driven by the airdrop and the popularity of Zeds Dead. Traders might consider short-term gains by capitalizing on the momentum, especially given the trading volume. However, the long-term viability of $SWEET will depend on the success of Coop's marketing campaigns and the continued interest in music NFTs. At 12:00 PM UTC, the trading pair $SWEET/USDT showed a volume of 1.8 million tokens with a price of $0.58, indicating a slight pullback from the initial high (Source: Binance, February 7, 2025, 12:00 PM UTC). Additionally, the $SWEET/ETH pair saw a volume of 500,000 tokens at a price of 0.0002 ETH, suggesting diversified trading interest (Source: Uniswap, February 7, 2025, 12:00 PM UTC). On-chain metrics reveal that the number of unique holders of $SWEET increased by 15% within the first two hours of launch, indicating growing interest and potential for further price appreciation (Source: Etherscan, February 7, 2025, 12:30 PM UTC).

Technical analysis of $SWEET's price movement indicates a bullish trend in the short term. The Relative Strength Index (RSI) for $SWEET was at 72 at 12:00 PM UTC, suggesting the token might be approaching overbought territory (Source: TradingView, February 7, 2025, 12:00 PM UTC). The Moving Average Convergence Divergence (MACD) showed a bullish crossover at 11:45 AM UTC, further supporting the potential for upward momentum (Source: TradingView, February 7, 2025, 11:45 AM UTC). Trading volume remained high, with an average of 1.5 million $SWEET tokens traded per hour in the first three hours post-launch (Source: CoinMarketCap, February 7, 2025, 1:30 PM UTC). The Bollinger Bands for $SWEET widened, indicating increased volatility and potential for significant price movements (Source: TradingView, February 7, 2025, 1:00 PM UTC). These indicators suggest that traders should monitor $SWEET closely for potential entry and exit points.

In terms of AI-related news, there have been no direct announcements or developments impacting AI-related tokens on this date. However, the general sentiment in the crypto market, influenced by AI developments, remains positive. Recent reports indicate that AI-driven trading algorithms have increased trading volumes by 12% across major crypto exchanges in the past month (Source: CryptoQuant, February 6, 2025). This trend could potentially influence the trading patterns of tokens like $SWEET, as AI algorithms might detect and capitalize on the initial surge in trading volume and price. The correlation between AI-driven trading and $SWEET's performance will be worth monitoring in the coming days to identify any trading opportunities that arise from this dynamic.