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AI Tokens ‘Preparing For Round 2’: Industry Shows 8% Growth With RNDR And FET

Excluding Bitcoin, memecoins were the biggest narrative of this cycle. However, Artificial Intelligence (AI) tokens also performed remarkably during the first quarter of 2024.

The crypto market recovered over the weekend from the May 1st retrace, with AI tokens showing significant gains. As a result, many industry experts think that the sector is poised for a ‘Round 2’ this cycle.

AI Sector Recovers By 8%

Crypto analysts highlighted AI tokens alongside memecoins as the hottest topic of 2024, responsible for most of the massive gains during this cycle.

According to CoinGecko’s report, AI was one of the three sectors that delivered three-digit returns in Q1. Moreover, the largest AI token by market capitalization, Fetch.ai (FET), saw gains of 378.3% during this period.

As a result, some analysts deem the AI sector to be the next main narrative of the cycle. Trader John Walsh, known as CryptoGodJohn, considers “The future of AI coins preparing round 2.”

Walsh added that the AI season is “extremely obvious” and will go “so much higher” based on the developments in the sectors, including Nvidia earnings, Apple AI, and Microsoft’s $100 billion AI fund.

To this, crypto analyst MacroCRG replied that a massive AI growth “will be obvious in hindsight,” considering that the sector’s market capitalization is “just” $27.3 billion.

According to a MacroCRG post, the AI market cap had increased 8% by Monday morning, and its daily trading volume was around $1.9 billion. On Tuesday, the market cap surged to $27.8 billion, a 2.3% increase from 24 hours ago.

In comparison, memecoins $54.4 billion market cap doubles AI’s. However, its market cap decreased by 2.8% in the last day, with the top ten memecoins showing red numbers in the past 24 hours.

Is Artificial Intelligence About To Bloom Or Ruin the World?

Despite the remarkable performance, some figures think the sector has a more pessimistic future. According to memecoin trader Murad, the developments in the industry will “be replacing more & more jobs every year.” As a result, there will be an increase in “Anxieties and desperate attempts to ‘make it.’”

To the trader, the industry will serve as a push for the memecoins sector, as “Growing AI capabilities will be one of the big forces accelerating the Memecoin Bubble.”

Financial giant Warren Buffett shared a more skeptical view on Saturday. The Co-founder and CEO of Berkshire Hathaway revealed he is not sold yet by artificial intelligence. To the CEO:

We let a genie out of the bottle when we developed nuclear weapons. AI is somewhat similar — it’s part way out of the bottle.

Despite this, Buffet recognized the potential for AI technology to change the world positively.

On The Brink Of A Millionaire Boom

“The AI industry is on the brink of a multi-trillion-dollar boom,” stated Alex Wacy. The analyst believes the reasons behind this are the vast and diverse potential of applications.

Moreover, the expert highlights that interest in the sector has steadily increased over the last year. A crypto and AI combination could potentially “create a market valued in the trillions.”

According to the post, the market is projected to reach nearly $2 trillion by 2030, which suggests that the crypto industry should not overlook it.

Tokens like RNDR showed a remarkable performance over the past week, with the price soaring by 45%. RNDR regained the $10 support zone this week after struggling to retest it over the last month.

In the past 24 hours, the token’s price surged 6.4%, and its daily trading volume increased by 16.8%, with over $455 million being traded.

FET is “a top performing AI coin headed into the Nvidia earnings,” as stated by John Walsh. The trader forecast that the token is “looking for a next leg higher up” after successfully retesting the $2.35 resistance level.

FET broke above this level over the weekend, rising to $2.5 on Monday and remaining above the $2.40 support zone since.

At writing time, the token is trading at $2.42, representing a 2.4% increase in the last 24 hours and a $22.9% surge in the past week.

AI, FET, FETUSDT

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AI Tokens Fetch.AI, AGIX, OCEAN Talk Merger, Surge Double Digits

The three leading artificial intelligence blockchain projects —Fetch.AI (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN)—are on the verge of a potential merger into a new token named Artificial Superintelligence (ASI), with the collective aim of establishing a decentralized AI behemoth. This initiative seeks to position them as formidable contenders against established tech giants such as OpenAI, Google, Microsoft, and Apple, by leveraging the intrinsic benefits of blockchain technology for AI development.

Fetch.AI + AGIX + OCEAN = ASI

This breaking news was positively received by the market. In the last 24 hours, Fetch.AI has seen a 12% increase, SingularityNET a 10% rise, and Ocean Protocol a significant 23% surge in their values, underscoring the market’s enthusiastic reception to the merger talks.

This proposed consolidation, first reported by Bloomberg, aims to amalgamate the three tokens into an ASI token, which is projected to have a fully diluted value of approximately $7.5 billion. The merger’s completion is subject to approval from the community members of each participating platform.

Despite the ongoing negotiations, representatives from SingularityNET, Fetch.ai, and Ocean Protocol have maintained a neutral stance, opting not to comment on the matter. According to sources who wished to remain anonymous due to the private nature of the information, the announcement of the deal could come as early as Wednesday, contingent upon the consent of the community members of each involved project.

Central to this collaboration is the establishment of the Superintelligence Collective, which would oversee the merged entity’s strategic direction. Ben Goertzel, the visionary founder and CEO of SingularityNET, is set to lead this initiative, with Fetch.ai CEO Humayun Sheikh, notable for his early investment in DeepMind (later acquired by Google), poised to serve as chairman.

This leadership structure is designed to synergize the distinct technological and philosophical approaches of each platform, fostering an environment where decentralized AI can thrive away from the conventional corporate model dominated by shareholder interests.

The backdrop of this bold move is the escalating investment by heavyweight tech corporations in AI technologies, signaling a broad industry consensus on AI’s transformative potential. The burgeoning interest in AI from these corporations has sparked a parallel movement within the crypto sector, where projects like SingularityNET, Fetch.ai, and Ocean Protocol are pioneering the development of decentralized AI solutions.

These solutions aim to democratize AI advancements, ensuring that the benefits of AI technologies are accessible to a wider audience and not just a consortium of tech oligarchs.

The largest of all three AI crypto projects by market cap, Fetch.AI (FET) is continuing its price discovery mode after breaking its all-time high in mid-February. At press time, FET traded at $3.24.

Fetch.AI price

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AI Crypto Tokens Like Render, WorldCoin Are ‘Overvalued’: Coinbase Research

In their report, “Crypto’s AI Mirage,” Coinbase Research has issued a nuanced examination of the intersection between artificial intelligence (AI) and crypto, revealing a landscape fraught with overvaluation and speculative fervor. David Han, an Institutional Research Analyst at Coinbase, spearheads this analysis, providing a critical lens through which the future of AI crypto tokens is scrutinized.

AI Crypto Tokens Lack ‘Persistent Demand Drivers’

At the heart of the report is the assertion that the crypto-AI domain, despite its rapid expansion and the enthrallment it enjoys from investors and the public alike, confronts substantial obstacles that might thwart its adoption in the foreseeable future. “AI tokens have been buoyed by the broader crypto and AI markets but may lack persistent demand drivers in the short to medium term,” Han states, underscoring the precarious foundation on which these tokens’ valuations might rest.

One of the report’s pivotal insights is the critique of decentralization as a standalone merit for AI products within the crypto sphere. “We generally think that decentralization is an insufficient competitive advantage for an AI product on its own – it must reach feature parity with centralized counterparts in certain other key areas as well,” the report elaborates. This perspective challenges the prevailing narrative that decentralization inherently confers superiority, arguing instead for a balanced approach that considers other critical factors for success.

The analysis further articulates a “contrarian view” on the value potential of many AI tokens, suggesting that the market’s exuberance may be misaligned with the actual prospects of these ventures. “Our view is that the value potential for many AI tokens may be overstated… and that many AI tokens may lack sustainable demand side drivers in the short to medium term,” Han explains. This cautionary stance is informed by the rapid evolution of AI technology, which poses a double-edged sword—while advancing the field, it also raises the barrier for crypto-based innovations to disrupt existing markets.

Delving into the categorization of AI and crypto intersections, the report differentiates between AI applications that enhance the crypto industry and those aimed at disrupting traditional AI pipelines through decentralized methods. It acknowledges the clear benefits and potential for long-term promise in the former category. In contrast, it casts doubt on the latter’s value proposition, highlighting the formidable challenges posed by market competition and regulatory hurdles.

Just Speculative Gambles?

Despite these challenges, the report notes a paradox where AI tokens have outperformed benchmarks such as bitcoin, ether, and even major AI equities like Nvidia and Microsoft since the fourth quarter of 2023. “AI tokens generally benefit from strong associated performance in both the broader crypto market as well as related AI news headlines,” the report observes, suggesting that these tokens can act as proxies for AI progress, albeit potentially detached from their actual utility or adoption metrics.

However, the speculative nature of this market is not lost on Coinbase Research, which warns of the risks associated with memetic speculation absent clear adoption forecasts. “A lack of clear adoption forecasting and metrics have enabled a wide range of memetic speculation which may not be long-term sustainable,” Han remarks, highlighting the precarious balance between price and utility in the AI token market.

In its concluding remarks, the report emphasizes the need for a judicious approach to navigating the crypto-AI landscape. It cautions against overreliance on decentralization as a panacea and advocates for a realistic appraisal of the challenges and opportunities that lie ahead. “Crypto’s role in AI does not exist in a vacuum… Thus, supplanting centralized providers purely for the sake of ‘decentralization’ is insufficient,” the report concludes, advocating for a more nuanced and critical examination of how crypto can genuinely contribute to the AI domain.

Render And WorldCoin Under The Microscope

WorldCoin emerges as a case study in the report, illustrating how AI tokens’ valuations can be significantly influenced by market headlines and promotional activities, often detached from tangible developments within the project itself. “The fully diluted valuation of Worldcoin sits at $80B – similar to that of OpenAI’s $86B February 16 valuation…,” Han notes, pointing to the speculative dynamics that can inflate valuations irrespective of underlying fundamentals.

He details that WorldCoin is perhaps the clearest example of AI tokens tracking AI market headlines. “It released its World ID 2.0 upgrade on December 13, 2023 that went mostly unnoticed, yet made a 50% move upwards following Sam Altman’s promotion of Worldcoin on December 15,” Han remarked, adding that “OpenAI’s Sora release on February 15, 2024 led to a nearly threefold gain in price despite no related announcements on Worldcoin’s Twitter or blog.”

Regarding Render Network (RNDR), Han highlights that the decentralized computing (DeComp) sector of the crypto economy is meant to be an alternative to the centralized cloud computing model. He argues that crypto projects such as Render and Akash have benefited from the GPU supply crunch.

However, he questions the long-term viability:

For networks [like Render and Akash] where compute pricing can change based on supply and demand variations, it is unclear to us where persistent, usage-driven demand to native tokens will ultimately arise if supply-side growth outpaces that on the demand side. We think it’s likely that such tokenomic models may need to be revisited in the future.

At press time, RNDR traded at $9.925.

Render RNDR price

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Fetch AI Fetches Fire – 110% Price Surge Ignites All-Time High

In the volatile world of cryptocurrencies, the recent bullish trend sweeping through the market has not only propelled Bitcoin to new heights but has also catapulted altcoins like Fetch.ai (FET) to unprecedented levels. FET marked a significant milestone with a fresh all-time high today, following the lead set by the primary cryptocurrency.

At the time of writing, FET is priced at $2.76, with a trading volume of $2.77 billion over the last 24 hours. Its market capitalization stands at nearly $2 billion. Notably, the coin has experienced a remarkable 110% increase in price within the past seven days, data from CoinMarketCap shows.

Fetch AI (FET) In Full Steam

The recent surge in FET’s price is attributed to the Fetch.AI Foundation’s announcement on March 5, 2024, introducing “Fetch Compute” as part of a substantial $100 million investment in advancing the AI economy.

The initiative involves deploying top-of-the-line Nvidia GPUs, including models like H200, H100, and A100, to supercharge innovation within the Fetch.AI ecosystem.

Funded through the Fetch Ecosystem Fund, this move addresses the GPU shortage, providing developers and users with enhanced computing power to create advanced models and solutions.

Will Fetch AI Hit $60 Billion Market Cap?

Many cryptocurrency experts have recently been bullish about Fetch.ai’s future prospects. There is a lot of potential for FET to continue growing, according to Crypto Rover, a well-known expert.

Rover recently posted on X that they bought $FET at $0.70 and have no plans to sell anytime soon. With the bold statement, “It is now at $2b market cap,” Rover revealed much more information. The range he is predicting is $40–$60 billion.

Some 100% of the FET’s total circulating supply is generating profits for its investors, per the Global In/Out of the Money (GIOM) indicator. A cohort holding 18,350 FET valued $36,700, acquired at an average price of $1.82, was the last to turn a profit.

This demonstrates that investors are still amassing FET despite the ongoing upward trend and confirmed profits. As a result, offering assistance for additional price escalations.

In a related development, Fetch AI has just established a strategic alliance with Deutsche Telekom, a notable corporate organization, reinforcing its standing as a major entity in the blockchain industry.

Whale Appetite Up

Meanwhile, FET whale addresses have been selling off their holdings. These massive wallets have made approximately $17 million from the sale of 8.45 million FET since then.

By March 11, according to CoinCodex’s short-term Fetch.ai price prediction, the currency would hit $1.792. By April 5, the prediction rose to $1.924. Technical analysis on the site was positive, with 26 signs indicating price appreciation and 4 indicating price decline.

Featured image from Freepik, chart from TradingView

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Fetch.AI (FET) Price Gains Another 15% Following This Big News

Fetch.AI (FET) has demonstrated remarkable performance in the crypto market today, securing its position among the top-three performers. The asset witnessed an impressive 17% gain within the last 24 hours, marking a significant milestone by crossing the $2 threshold for the first time ever. This surge, propelling Fetch.AI to the 64th place among the top cryptocurrencies by market cap, is a testament to the growing investor confidence and market optimism surrounding its technological advancements and future potential.

Why Is Fetch.AI Price Up Today?

This surge in FET’s price can be attributed to a pivotal announcement by the Fetch.AI Foundation, which has evidently ignited investor interest. On March 5, 2024, the foundation unveiled a substantial infrastructure investment with the introduction of “Fetch Compute,” following a $100 million investment aimed at enhancing the development capabilities within the AI economy.

Fetch Compute’s initiative to deploy state-of-the-art Nvidia GPUs, including the H200, H100, and A100 models, aims to significantly accelerate the pace of innovation within the Fetch.AI ecosystem. This strategic investment, funded through the Fetch Ecosystem Fund, is designed to empower developers and users with the computational power necessary for exploring and developing sophisticated models and solutions, addressing the pressing GPU shortage and setting a new standard for the global developer community.

A novel incentive mechanism was also announced, where starting March 7, 2024, users staking Fetch.AI’s native coin, FET, will be rewarded with Fetch Compute Credits. These credits can be used to access the computing power on the Fetch Compute network, directly benefiting FET token holders and fostering a robust development ecosystem.

Humayun Sheikh, CEO of Fetch.ai, emphasized the transformative nature of Fetch Compute, stating, “Fetch Compute is not just an infrastructure investment; it’s an investment in the future of AI and the ecosystem of innovative developers who are pushing the boundaries of what’s possible with our platform.”

Sheikh further elaborated on the significance of this initiative, “By marrying substantial compute resources with our unique compute credit system, we’re ensuring that our community has the support and tools necessary to bring their visionary AI projects to life.”

This strategic expansion not only enhances the utility of the FET token but also reinforces Fetch.AI’s infrastructure capabilities. The platform’s DeltaV, leveraging Language Models (LLMs) and AI Agents, aims to revolutionize the way users connect with services, thereby redefining the search experience. With the rollout of Fetch Compute, Fetch.AI solidifies its vision of a more intelligent, efficient, and interconnected AI world.

FET Price Enters Price Discovery

As the FET price has ascended beyond the $2 mark, it has successfully concluded the bull flag pattern, we discussed in earlier price analysis, achieving a 290% increase. Now, the price of FET is entering a phase of price discovery. The Fibonacci extension levels may provide insights into potential future directions for the price. Potential price targets are at $3.04 (2.618 Fib), $4.18 (3.618 Fib) and $4.88 (4.236 Fib).

Fetch.AI FET price

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Fetch.AI (FET) Surges 21%: Why This Rally Is Just Getting Started

Today, Fetch.AI (FET) is once again emerging as a stand-out performer. The price of FET has surged by an impressive 21% in the past 24 hours, rising to $1.63. Currently, this substantial uptick is positioning Fetch.AI as the top performer among the top 100 cryptocurrencies by market capitalization.

Fetch.AI is benefiting from the AI hype in the tech sphere. As AI continues to make headlines, projects that are seen as contributing to this future, like Fetch.AI, naturally attract attention and investment, riding the wave of AI hype to gain visibility and financial support in the crypto sphere.

The project aims to leverage AI to enable smarter, more efficient blockchain networks and applications, appealing to both investors and developers interested in cutting-edge technology. Furthermore, the broader market trends show a growing appetite for investments in technologies that promise to shape the future.

Fetch.AI Price Analysis: FET/USD

When examining the weekly FET/USD chart, it is evident that the momentum for the AI coin is strong. Earlier this week, FET broke its previous all-time high of $1.19. Notably, this puts Fetch.AI in an elite group of very few cryptocurrencies that have already surpassed their previous all-time high.

Fetch AI FET price

The chart shows a well-formed ‘Bull Flag’ pattern, a bullish continuation pattern, which has developed over the past weeks. This pattern is characterized by an initial strong upward movement in price, followed by a downward sloping consolidation phase, and then typically results in a breakout to the upside.

The flag pole formed from mid-October till mid-December 2023. During the consolidation phase, the FET price fell towards the 20-week EMA (red line), but was always able to hold it on a weekly basis. The breakout from the flag occurred on February 12.

Based on the bull flag poll, the projected target is a 290% increase from the flag’s bottom, which would place FET at around $2.00. Notably, this closely aligns with the 1.618 Fibonacci extension level at approximately $1.90.
Another bullish argument are the volume bars, denoting trading volume. This has shown a substantial increase coinciding with the price surge, suggesting strong buyer interest.

Moreover, the Relative Strength Index (RSI), a momentum oscillator that measures the speed and change of price movements, is currently at 72.5. While this puts the FET price slightly in the overbought territory (typically considered to be above 70), it is typical for the crypto market to overheat during a raging bull market.

This suggests that there might still be room for upward movement before the market considers FET overbought.

FET/BTC On The Weekly Chart

In the competitive arena of cryptocurrency pairings, Fetch.AI’s token has shown a remarkable performance against Bitcoin (BTC) on the weekly chart. The FET/BTC pair exhibits a notable increase of 47% in the current week.

FET/BTC

Notably, the price action has reached a pivotal point, prompting the question: Is a phase of consolidation on the horizon or is Fetch.AI on the cusp of a massive breakout? FET/BTC is currently at 0.00002705 and thus slightly above the major resistance at 0.00002697. However, a weekly close above this threshold needs to confirm the trend.

A weekly close above this threshold could open the door for a 400% rally against BTC. In a bearish scenario, FET could be consolidating in the range between 0.00002650 and 0.00002014 before making the next major move.

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Fetch.AI (FET) Prints Strong Bullish Signal, Targets 500% Spike

In a new technical analysis, renowned crypto analyst Gert van Lagen forecasts a 500% surge in the value of Fetch.AI (FET), with a price target of $5.5. This bold prediction comes as the AI-centric cryptocurrency coin, FET, records a 12% increase over the past 24 hours and an impressive 45% gain over the last week.

Currently trading with a momentum that correlates with the buzz around AI technology giant Nvidia, Fetch.AI is riding the wave of heightened interest as Nvidia approaches its Q4 2023 earnings release on February 21.

Nvidia’s stock has experienced a remarkable 45% surge since their previous earnings report, expanding its market cap by an unprecedented $600 billion. As the tech community anticipates Nvidia’s next financial update, speculation abounds regarding the potential influence of the company’s performance on the broader AI and cryptocurrency markets.

FET, along with other AI-tied tokens such as The Graph (GRT), Injective (INJ), Render Network (RNDR), and SingularityNET (AGIX), stands at a critical juncture where Nvidia’s financial results could significantly sway investor sentiment within the AI and crypto sectors. A positive report from Nvidia could catalyze a wave of enthusiasm, potentially bolstering investments in AI-dedicated cryptocurrencies.

Fetch.AI (FET) Eyes A 500% Rally

Van Lagen’s chart showcases a massive inverse ‘Head and Shoulders’ (H&S) pattern, consisting of three troughs: the left shoulder formed in early 2022, the head reached its nadir at the end of 2022, and the right shoulder developed in August 2023.

The pattern is characterized by a ‘neckline,’ which is a resistance level that the price must surpass to confirm the reversal. For Fetch.AI, the neckline is situated around the $0.5 mark, a threshold that was successfully retested as support in January 2024. This retest is seen as a bullish confirmation, reinforcing the integrity of the reversal pattern.

FET price analysis

A noteworthy element in the analysis is the decisive breakout from the green Fibonacci resistance zone last week. The Fibonacci retracement tool is commonly used to ascertain potential support and resistance zones, and a breach beyond these confines typically suggests a strong market conviction.

Thus, Fetch.AI has not only surmounted the neckline but has also made strides past the resistance zone, paving the way for the asset to strive towards new all-time highs. Van Lagen has calculated a technical target for the iH&S pattern at $5.5, extrapolated from the depth of the pattern’s head to the neckline, and projected upwards from the breakout point.

The analyst has also stipulated a condition for the invalidation of this bullish scenario: should Fetch.AI print a ‘lower low’ (LL), it would disrupt the structure of the iH&S pattern and potentially signal a bearish shift in the market’s sentiment. He summarizes:

FET [1W] – Head and Shoulders bottom playing out neatly:
+ Dec-23 breakout of the right shoulder & the green Fib resistance zone;
+ Jan-24 multi-week successful retest of the neckline;
+ Feb-24 clearance for new ATHs
Technical target iH&S: $5.5 Invalidation: print LL

At press time, FET traded at $0.92.

FET price

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Crypto Analyst Says This AI Altcoin Will Hit A Fresh ATH After 300% Rally

The anonymous crypto analyst Rekt Capital’s observations point to a promising future for the artificial intelligence (AI) cryptocurrency project, with a focus on Fetch.ai (FET).

Along with with a sizable 377,500 followers on the social media network X, the analyst offers a bullish prediction, stating that Fetch.ai is about to reach a new all-time high (ATH).

Rekt Capital’s investigation shows that the machine learning platform is presently experiencing a notable upswing following a successful retesting of a critical price level.

Technical Analysis Illuminates Fetch.ai Momentum

The spotlight placed on Fetch.ai’s retest points to a technical analysis viewpoint in which the price behavior of the project at this crucial level acts as a key predictor of potential future profits.

FET has increased over 300% since the cryptocurrency watchlist, claims Rekt. In terms of fluctuation in price, the AI cryptocurrency went up from $0.53 on December 9 to $0.67 on December 16.

Additionally, the technical analysis presents a positive picture for the cryptocurrency Fetch.ai, which has seen 60% of “green” trading days. Additionally, Fetch.ai is showing bullish indications from almost 30 technical indicators.

The rise in cryptocurrencies with an AI focus indicates a rising awareness of the possibilities at the nexus of blockchain technology and artificial intelligence.

An illustrative case in point is the significant increase in the value of Fetch.ai (FET) that followed its partnership with SingularityNET (AGIX).

The collaboration between Fetch.ai and SingularityNET most likely represents a strategic relationship with the goal of maximizing the technological synergies between the two enterprises.

SingularityNET is a platform that facilitates the production and trading of AI services. Fetch.ai could gain from SingularityNET’s experience and skills.

Crypto And AI Synergy: Catalyst For Innovation

This partnership is proof of the expanding fusion of blockchain and artificial intelligence (AI), which many investors think has the potential to usher in a new wave of innovation in the cryptocurrency space.

At the time of writing, FET was trading $0.76, up 7.5% in the last 24 hours, and sustaining a weekly gain of 10% in the last week, data from Coingecko shows.

There is a chance that FET would reach new all-time highs, which would be a challenge. According to Rekt, the crucial next step in realizing this potential is to successfully break through the red resistance and turn it into a level of support, which would represent a turning point in the price trend of FET.

All of this information was considered by industry experts when developing their Fetch.ai price forecasts. They anticipate that Fetch.ai’s value will reach $0.77 by the end of 2023, making it an intriguing DeFi coin to monitor.

Featured image from Shutterstock

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Did The OpenAI and Microsoft Saga Just Trigger Massive Interest in AI Tokens?

The recent saga surrounding OpenAI and its co-founder Sam Altman has sparked a surge of interest in AI tokens, with total weekly trade volume surpassing $2 billion for the first time since March, fresh data from Kaiko, a blockchain analytics platform, shows.

According to statistics, WLD, the native token on Worldcoin, a project co-founded by Altman, and other tokens, including FET, the primary coin behind the AI-reliant blockchain, Fetch.ai, appear to be primary gainers. Even so, WLD prices remain below November 2023 lows when writing.

Trading volume of AI tokens | Source: Kaiko on X

WLD Remains Volatile 

Even so, looking at market data, the spike in crypto AI trading volume seems driven mainly by WLD activity. Looking at the project’s share, trading volume comprises over 33% of all related crypto AI trading volume. 

While there is a noticeable spike in activity, it remains below the all-time high of above $4 billion in Q1 2023. Then, traders and investors were keen on AGIX, the SingularityNET token. However, over the months, Worldcoin has since taken over as investor interest shifted to WLD, evidenced by the gradual rise of trading volume.

Worldcoin price trending upward on the daily chart | Source: WLDUSDT on Binance, TradingView

Looking at WLD price action over the past three days, prices have been volatile, though trading volume has been mostly up from November 13. Following news of Altman’s removal as CEO of OpenAI, prices fell before slightly expanding with news of negotiations to return to the role, followed by his appointment to lead Microsoft’s AI team. 

All these events have contributed to the market’s heightened interest in WLD. Accordingly, trading volume across the broader crypto AI scene stands above the $2 billion level for the first time since March.  

The Sam Altman And OpenAI Drama Turns Attention To Worldcoin

Though there is no direct connection between OpenAI and Worldcoin, crypto participants focus on events at OpenAI and how the board handled Altman as a factor catalyzing WLD’s activity. 

The general lack of clarity on why the board ousted Altman as CEO worsens the situation, sparking speculation that this could also impact WLD’s prices and how Worldcoin is governed, considering the former CEO is also behind the crypto AI project.

Looking at the co-founder’s previous role as the team leading Worldcoin’s developments, Altman also holds significant sway, contributing to discussions on how the government should regulate AI at the end of the day. 

Altman’s influential role has impacted Worldcoin and its prices since the blockchain project aims to create a global identity system. Worldcoin’s operations would rely on AI, including fraud prevention, data analysis, verification, and more. 

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Fetch AI Breakout Confirmed: Analysts Reveal Bullish Targets For FET Price

Fetch AI (FET) has been riding the bullish artificial intelligence (AI) narrative following Sam Altman being ousted from OpenAI. Its native FET token has seen an impressive move upward since then, maintaining its bullish headwinds at the same time. But even after the altcoin has grown so much, crypto analysts are convinced that the coin is only at its starting level, and will continue to rise.

Analyst Who Called FET Initial Rise Is Back Again

Crypto analyst Tony The Bull, Founder of CoinChartist, was one of the most vocal voices for buying FET when the price fell to $0.09 back in 2022. The coin has since risen more than 5x from this level but even this has not deterred the analyst, who believes that there is more to come.

In a recent analysis, Tony presented the reasoning behind why he is still bullish on the FET price. The analyst had previously expected a retracement. But from the current level, expect the price to increase once more.

The chart shows an initial bounce above the $2.5 mark before a retracement that takes it back down to around $0.55. Then from here, there is another bounce upward to over $4 once more. If this plays out as expected, then the FET price could be looking toward multiple bounces of over 500% from here.

Fetch AI On Bulls’ Radar

In the same vein as Tony The Bull, another crypto analyst has predicted that the price of FET is headed for more rallies. The analyst who goes by TradingShot posted the analysis on TradingView where they revealed their target for the price.

Similar to Tony’s first target, TradingShot expects a rally that will bring the price above $2. The analyst identified a Golden Cross on the 1-day (1D) chart, noting that this is the fourth bullish pattern that has shown up in the FET long-term channel.

Fetch AI FET price chart from Tradingview.com

According to the crypto analyst, whenever such a bullish pattern emerged, the price had already started moving up. But actually, it is just the beginning as the main rally often happens after this 1D Golden Cross on the price chart is noted.

“The 1D RSI’s similarities of the November 2020 – February 2021 Bullish Megaphone are a testament that we are on a similar pattern, which then peaked just below the 1.5 Fibonacci extension. As a result, we remain buyers on FET, targeting 1.8000,” TradingShot said.

FET is currently in a downtrend after a tremendous run. According to data from CoinMarketCap, the altcoin’s price is sitting at $0.5 after falling 11.62% in the last 24 hours.

Fetch AI FET price chart from Tradingview.com

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OpenAI Setback No Match For FET’s 160% Surge: Time To Invest In AI?

The Artificial Intelligence (AI) sector in the crypto space has enjoyed one of the most prominent rallies despite the debacle with OpenAI. The company behind ChatGPT fired one of its founders and CEO, Sam Altman, sparkling downside pressure for AI-based tokens, such as FET.

The native token for Fetch.ai, FET, has been trending to the upside following the general market sentiment. Over the past month, the cryptocurrency recorded a 160% rally, and it’s poised for further profits as it breaches critical resistance levels.

OpenAI FET FETUSDT FET price

OpenAI Controversy Adds Fuel For FET’s Rally

Data from Coingecko indicates that FET’s bullish momentum took a hit last week as news about Sam Altman leaving OpenAI broke. The token has been moving with any development from the broader AI sector, and the uncertainty surrounding this company has impacted its performance on low timeframes.

Over the weekend, FET regained its bullish momentum and reclaimed territory, extending a more significant rally. In that sense, a pseudonym trader looked into FET’s potential target as the cryptocurrency continues “its rally without a dip.”

In the past week, FET breached the resistance at $0.56, targeting its 2022 highs, as seen in the chart below. If the bullish momentum continues, the token could rise to its 2021 highs between $0.70 and $0.90.

OpenAI FET FETUSDT FET price

FET Rally Could End In Massive Correction

Our Editorial Director and analyst, Tony Spilotro, has been bullish on FET’s trajectory. The analyst believes FET could rise 2x to 4x before losing steam and re-visiting support.

In the past, whenever the token followed a similar trajectory, printing a buy signal above the monthly Bollinger Band, as Spilotro stated, FET corrected by an impressive 80%. Thus, the analyst recommended new investors to tread carefully. Spilotro said:

(…) its safe more than likely to buy FET at such levels, so long as you have a plan to get out before the next 70+% correction happens. Otherwise, price could retrace back to your entry here. Be smart and don’t expect the rally to go on forever.

Today, Microsoft announced the hiring of Sam Altman to spearhead a new AI division. The company will commit to providing resources for the new division, which could ignite a new bull era for AI and AI-based tokens.

Cover image from Unsplash, chart from Tradingview

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Is Fetch.ai (FET) On The Cusp Of Another Mega Bull Run To 2021 Highs?

A crypto trader took to X on November 15, predicting that FET, the native currency of Fetch.ai, an AI-centric platform, could be aligning itself for a “green path,” resuming the uptrend of the past few weeks. 

The analyst, @rektcapital, believes the recent price action on the weekly chart points to strength. Moreover, the possibility of FET bulls flowing back and driving prices above the immediate resistance level registered in early November remains elevated at spot rates.

Fetch.ai set for the green path | Source: Rektcapital on X

FET Remains Bullish, Up 770% From 2022 Lows

Looking at the candlestick arrangement in the weekly chart, FET buyers have had the upper hand. To quantify, the coin is up 140% from July 2023 lows and may be preparing for even more upsides if prices break above $0.46 recorded in the first week of November. As it is, FET is up by over 770% from December 2022 lows when the coin plunged to as low as $0.0570. 

From technical analysis, FET recovered from around $0.17, representing the 78.6% Fibonacci retracement level of the trading range established in the first half of 2023. FET prices may rise, building on the bullish engulfing bars of late October and early November 2023, breaking above $0.46. This expansion, in turn, may create the base for the next leg up to $0.60, marking 2023 highs. 

FET price trending upward on the weekly chart | Source: FETUSDT on Binance, TradingView

Despite the current rally, whether FET prices will find the momentum to retest 2021 highs of $1.20 is still unclear. Even so, as FET expands, there is a notable change in participation levels, looking at trading volume, between 2023 and 2021.

Prices might be down 65% from the September 2021 peak, but associated trading volume is higher, suggesting more support. If trading volume is a leading indicator, it is highly likely that even if FET moves in a green path as @rektcapital predicts, the odds of the coin retesting 2023 and 2021 highs will be high and the uptrend possibly rapid.

Fetch.ai Building, Dominates Social Media Activity

In October, Fetch.ai launched DeltaV, an open platform allowing users to interact with Fetch.ai agents and services naturally and intuitively. With this solution, developers hope users will further explore the blockchain, utilizing its capabilities.

At the same time, Fetch.ai emerged as the leading crypto AI project by social media activity. With over 1,700 posts and over 409,000 interactions as of November 15, the platform is more popular than The Graph (GRT) and the Ocean Protocol (OCEAN).

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Expert Insights: 7 Altcoins Showing Promising Breakout Potential – A Must-Watch List

In a recent X (formerly Twitter) post, renowned crypto expert Miles Deutscher provided valuable insights into his weekly tokens and narrative watchlist, focusing on critical altcoins and upcoming events with significant trading potential. 

Altcoins Poised For Potential Breakout

Deutscher’s analysis sheds light on several altcoins, including Solana (SOL), SingularityNET (AGIX), Fetch.ai (FET), Ocean Protocol (OCEAN), Arkham (ARKM), Dogecoin (DOGE), and XRP. 

  • Solana:

Deutscher emphasizes the importance of Solana’s Breakpoint 2023 conference and anticipates major announcements. While previous Breakpoints have resulted in “sell the news” events, Deutscher remains cautiously short on SOL. 

On the other hand, Miles expects a positive response from the community after the recent FTX collapse. However, historical patterns suggest the possibility of a sell-off, which warrants vigilance.

Altcoins

Nonetheless, SOL has broken previous weekly records every week for the past month. Currently, SOL is trading at $36.27, a new record for 2023 and a level not seen since November 5, 2022. Moreover, SOL has seen significant gains of 4.4% over the past 24 hours, following its remarkable 57% rise over the past 30 days.

  • AGIX, FET, OCEAN:

The resurgence of the artificial intelligence (AI) narrative has sparked anticipation for a series of AI conferences, including OpenAI’s developer conference on November 6. Deutscher advises focusing on established leaders such as AGIX, FET, and OCEAN. 

These tokens have demonstrated strength during previous AI market surges. Deutscher suggests avoiding speculation on low-cap coins and opting for long positions on these altcoin AI leaders.

Over the past 30 days, AGIX has seen a remarkable 19% increase in price. However, over the past 1 year, the token has seen a staggering 350% rise amidst the AI narrative hype. It is currently trading at $0.2284. On the same note, FET has surged over 329% over the 1 year and is currently trading at $0.3665. 

OCEAN has posted smaller gains over the 1 year, but has still recorded a significant 110% surge over this period and is currently trading at $0.3645.

  • ARKM:

According to Deutscher, although ARKM has received less attention than other altcoins, it is promising due to its involvement in AI-related businesses and its investment by Sam Altman. 

Deutscher highlights ARKM’s potential in the AI space, especially during the Solana conferences. This makes ARKM one of the altcoins to watch closely for potential trading opportunities, according to Deutscher. 

Currently, the crypto analytics and data tracking platform’s native token is trading at $0.3833, up 20% in the last fourteen days.

XRP Speculation Intensifies Ahead Of Ripple’s ‘Swell Conference’

  • DOGE:

While DOGE has seen a decline in price action and hype, Deutscher highlights two key factors that could influence its performance. 

First, DOGE Day, has historically attracted retail interest. Second, the potential for a Halloween tweet from Elon Musk, as was the case last year. Deutscher suggests that DOGE is best suited for spot trading and dollar cost averaging (DCA), as it remains an attractive option for retail investors and has the potential for a strong pump in the future.

Currently, the Meme coin has lost its bullish momentum and has erased most of its gains over the past few days. Currently, the token is trading at $0.0686, down 1.9% in the past 24 hours and 42% in the 1-year time frame. 

  • Last but not least is XRP:

With Ripple’s “Swell Conference” scheduled for November 8-9, Deutscher acknowledges the heavy speculation surrounding a potential initial public offering (IPO), although he believes it is unlikely. 

However, given the speculative nature of the crypto market, such speculation can fuel FOMO (fear of missing out) )-driven rallies. XRP has experienced pre-conference spikes, making it a token to watch this week and next.

Altcoins

Currently, XRP is experiencing a sustained uptrend price action, gaining 2% in the past 24 hours, pushing the token to the 0.5949 level, which has not been seen since August.

Featured image from Shutterstock, chart from TradingView.com 

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Expert Insights: 7 Altcoins Showing Promising Breakout Potential – A Must-Watch List

In a recent X (formerly Twitter) post, renowned crypto expert Miles Deutscher provided valuable insights into his weekly tokens and narrative watchlist, focusing on critical altcoins and upcoming events with significant trading potential. 

Altcoins Poised For Potential Breakout

Deutscher’s analysis sheds light on several altcoins, including Solana (SOL), SingularityNET (AGIX), Fetch.ai (FET), Ocean Protocol (OCEAN), Arkham (ARKM), Dogecoin (DOGE), and XRP. 

  • Solana:

Deutscher emphasizes the importance of Solana’s Breakpoint 2023 conference and anticipates major announcements. While previous Breakpoints have resulted in “sell the news” events, Deutscher remains cautiously short on SOL. 

On the other hand, Miles expects a positive response from the community after the recent FTX collapse. However, historical patterns suggest the possibility of a sell-off, which warrants vigilance.

Altcoins

Nonetheless, SOL has broken previous weekly records every week for the past month. Currently, SOL is trading at $36.27, a new record for 2023 and a level not seen since November 5, 2022. Moreover, SOL has seen significant gains of 4.4% over the past 24 hours, following its remarkable 57% rise over the past 30 days.

  • AGIX, FET, OCEAN:

The resurgence of the artificial intelligence (AI) narrative has sparked anticipation for a series of AI conferences, including OpenAI’s developer conference on November 6. Deutscher advises focusing on established leaders such as AGIX, FET, and OCEAN. 

These tokens have demonstrated strength during previous AI market surges. Deutscher suggests avoiding speculation on low-cap coins and opting for long positions on these altcoin AI leaders.

Over the past 30 days, AGIX has seen a remarkable 19% increase in price. However, over the past 1 year, the token has seen a staggering 350% rise amidst the AI narrative hype. It is currently trading at $0.2284. On the same note, FET has surged over 329% over the 1 year and is currently trading at $0.3665. 

OCEAN has posted smaller gains over the 1 year, but has still recorded a significant 110% surge over this period and is currently trading at $0.3645.

  • ARKM:

According to Deutscher, although ARKM has received less attention than other altcoins, it is promising due to its involvement in AI-related businesses and its investment by Sam Altman. 

Deutscher highlights ARKM’s potential in the AI space, especially during the Solana conferences. This makes ARKM one of the altcoins to watch closely for potential trading opportunities, according to Deutscher. 

Currently, the crypto analytics and data tracking platform’s native token is trading at $0.3833, up 20% in the last fourteen days.

XRP Speculation Intensifies Ahead Of Ripple’s ‘Swell Conference’

  • DOGE:

While DOGE has seen a decline in price action and hype, Deutscher highlights two key factors that could influence its performance. 

First, DOGE Day, has historically attracted retail interest. Second, the potential for a Halloween tweet from Elon Musk, as was the case last year. Deutscher suggests that DOGE is best suited for spot trading and dollar cost averaging (DCA), as it remains an attractive option for retail investors and has the potential for a strong pump in the future.

Currently, the Meme coin has lost its bullish momentum and has erased most of its gains over the past few days. Currently, the token is trading at $0.0686, down 1.9% in the past 24 hours and 42% in the 1-year time frame. 

  • Last but not least is XRP:

With Ripple’s “Swell Conference” scheduled for November 8-9, Deutscher acknowledges the heavy speculation surrounding a potential initial public offering (IPO), although he believes it is unlikely. 

However, given the speculative nature of the crypto market, such speculation can fuel FOMO (fear of missing out) )-driven rallies. XRP has experienced pre-conference spikes, making it a token to watch this week and next.

Altcoins

Currently, XRP is experiencing a sustained uptrend price action, gaining 2% in the past 24 hours, pushing the token to the 0.5949 level, which has not been seen since August.

Featured image from Shutterstock, chart from TradingView.com 

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Crypto Analyst Who Called Bitcoin’s Parabolic Rally Picks Altcoin Set To Pop

Predicting the Bitcoin price movements and when altcoin prices will rally again is not a small feat but one analyst has managed to do so. Crypto analyst TonyTheBull has been calling for a bull market, saying that this cycle differs from previous ones in the fact that there will be a rally this year.

This proved to be true last week when the price of Bitcoin started surging and hit as high as $35,100. Now the analyst has called the next altcoin to outperform, and it already is.

Fetch (FET) Is Next Altcoin In Line

In the latest iteration of the CoinChartist (VIP) newsletter, crypto analyst TonyTheBull revealed that Fetch (FET) was his next pick after the Bitcoin breakout. He revealed that he had previously bought FET which ended up outperforming in January, and believes the same will be the case here as well.

FET which is one of the top AI-powered crypto tokens is already on the rise after the analyst called it at the $0.24 level. TonyTheBull also posits that a Raging Bull indicator flipping on would be able to confirm further upside. “Waiting for the Raging Bull to turn on would help confirm increased bullishness in the altcoin,” the newsletter read.

Fetch FET altcoin

The Raging Bull Indicator, explained the analyst, “was designed using the Relative Strength Index to help indicate when Bitcoin or other assets are in a bull market, and more importantly, and impulsive like trend.” Basically, this indicator helps to show the strength of a cryptocurrency.

Looking at FET’s performance since the call, it has already climbed over 30% and is now trading above $0.3, hitting a local peak of $0.32 on Wednesday.

Fetch AI FET price chart from Tradingview.com (Bitcoin altcoin crypto analyst)

Bitcoin Not The Only One Looking Good

Despite Bitcoin still looking incredibly bullish on the charts, the analyst points out some altcoins that have had their Raging Bull Indicators turned on this year as well. The first on the list is Solana whose indicator turned on for the first time since 2022. Following this, the digital asset went on a massive run but it might not be done.

TonyTheBull revealed that the last time this indicator was turned on, Solana blew up by 500%, and then continued on to do a 17,000% rally. So if it sticks to historical performance, the Solana rally might only be in its early stages.

Solana SOL altcoin Bitcoin

The next altcoin to appear on the list is Chainlink’s LINK. LINK moved from around $7 to over $11 in a matter of days. But just like Solana, this coin may only be in its early stages. LINK’s Raging Bull Indicator last turned on in 2019 and the coin saw a “700% in the near term, and more than 9,000% in total.” The analyst further added, “This might not be a setup to sleep on.”

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FET Blasts 14% Higher: See The “Golden” Signal Behind The Surge

As the broader cryptocurrency market breaks out on the back of Bitcoin’s big rally, FET is the next altcoin to double-digit gains. The AI cryptocurrency at one point hit 14% higher intraday.

The move could be the start of something special, according to a “golden” signal in Fetch.ai.

FET Soars 14% As Golden Cross Triggers

FET is up 14% today as cryptocurrencies across the board see significant gains led by Bitcoin (BTC) this week. Even before the big move, the AI coin had opened this weekly trading session forming a golden cross of the 50-week and 200-week moving averages.

A golden cross occurs when a short term moving average crosses above a long-term moving average from below. This is a buy signal in trend-following technical systems and suggests that a new trend is potentially blossoming. A death cross is the opposite sell signal.

While the signal in and of itself is bullish based on the performance of trend-following systems, FET could be showing itself as a crypto market leader by being among the first coins to form such a golden cross. Ethereum (ETH) and Bitcoin are still death crossed, for example.

Even recent market stars Chainlink (LINK) and Solana (SOL) haven’t formed a golden cross on the weekly timeframe.

FET GOLDEN CROSS

Can Fetch Recapture AI Hype?

There’s no denying fetch.ai’s latest double-digit price surge has brought fresh excitement and validation to the project. The startup’s vision of an AI-powered decentralized machine economy clearly resonates with many crypto investors. Furthermore, hype around AI leftover from Nvidia’s epic rally could find its way further into Fetch.ai.

FETUSD rallied by more than 2380% starting from October 2020 through April 2021. In late 2022, Fetch.ai did another 900% following the release of ChatGPT and other big AI projects. What might this next rally result in for return on investment, if it continues higher?

Former all-time highs reside around $1.20, which could be the next logical target if price exceeds $0.60, which was the 2023 peak so far. Beyond that, FET would enter price discover and there is no telling how high it could go. But with only two months left in 2023, the $0.60 peak might stand as the record, with FET not able to break above it until 2024.