AI Coins Experience Downturn: Fetch.ai, Singularity, and Ocean Merger Enthusiasm Fades – Spotlight on the Next AI Coin to Monitor
Tim Hakki
Last updated: June 21, 2024 10:45 EDT | 2 min read
The impressive nearly 30% surges achieved on Thursday by AI tokens Ocean Protocol ($OCEAN), SingularityNET ($AGIX), and Fetch.ai ($FET) have notably cooled by Friday afternoon UTC.
The news of $AGIX and $OCEAN merging into the $4 billion market cap token $FET in a Binance-backed agreement propelled these tokens to intraday gains surpassing most top 100 cryptocurrencies yesterday. However, their upward momentum has significantly moderated today. At present, Fetch.ai is down 3.7% from its previous day’s price, settling at $1.58.
Similar downturns have affected Ocean Protocol and SingularityNet. $OCEAN declined by 3.1% overnight to $0.6544, while $AGIX slipped 2.5% to $0.6561, as reported by CoinCodex.
The leading AI token, Near Protocol’s $NEAR, also saw a comparable decline of 2.6%, currently trading at $5.24.
These losses mirror the broader trend seen in the cryptocurrency market leader, Bitcoin ($BTC), which fell 3.2% overnight to trade at $63,788.
Looking ahead to Fetch.ai post-merger, a review of the token’s price performance over the past three months reveals that $FET struggled to maintain levels above $2.50, ultimately dipping below the $2 support threshold in early June. Current data indicates the token may have found support around $1.50, contingent upon it holding steady or rallying.
Given Bitcoin’s recent decline, it’s unlikely that $FET will surge significantly above $1.50 this weekend unless there’s a broader market upturn, as the hype-driven buying interest seems to have waned. The relative strength index, currently at 52, suggests that profit-taking following yesterday’s surge has also calmed down.
AI Coins Embrace the Meme Trend with WienerAI
AI coins merge blockchain technology with artificial intelligence to unlock the potential of Web3. However, a new wave of coins such as ScottytheAI and WienerAI are blending AI functionality with the viral appeal of meme coins, potentially yielding exponential gains.
WienerAI, though initially appearing as another meme coin centered around dogs, is more than meets the eye. It represents a cutting-edge crypto initiative leveraging viral marketing strategies to offer crypto enthusiasts a compelling proposition: the most advanced, user-friendly AI trading bot in the crypto space.
Having entered its third month of presale, WienerAI ($WAI) has already attracted significant investments totaling $6.2 million. Marketed as a “Revolutionary AI Trading Partner,” WienerAI provides owners with AI-enhanced trading advice, seamless swap capabilities, and zero transaction fees.
Furthermore, WienerAI’s smart contract has been audited by the blockchain security platform Coinsult. Approximately 20% of $WAI’s supply is allocated for staking, offering investors an enticing Annual Percentage Yield (APY) of 186%.
During the presale phase, WienerAI is available at a fixed price of $0.00072 on its website. Interested investors have a limited window to capitalize on this price before it increases to the next tier. Once presale concludes, the potential for appreciation becomes unlimited.
For the latest updates on WienerAI, follow developments on X and Telegram.
Join WienerAI Here
Follow Us on Google News
Disclaimer: Cryptocurrency investments are high-risk. This article serves informational purposes and should not be construed as investment advice. Capital loss is possible.