Bittensor Price Surges 14.5% – Is It the Right Time to Invest in TAO and Could Another Meme Coin Outperform?
Joel Frank
Last updated: May 23, 2024 09:36 EDT
The Bittensor price is experiencing significant gains, indicating that it may still be a good opportunity to buy this cryptocurrency. (Source: TradingView)
As the Bittensor (TAO) price continues to rise on Thursday, reaching new monthly highs above $490, traders are questioning whether it is too late to invest in TAO.
Currently, TAO is trading just above $470, marking a 13% increase in the past 24 hours according to CoinMarketCap.
Bittensor is a decentralized network of machine learning models that aims to create a global AI brain.
Due to the latest Nvidia earnings report, AI coins like Bittensor are in the spotlight today. Nvidia exceeded revenue expectations in Q1, leading to a surge in its stock price to all-time highs.
This optimism surrounding AI coincides with positive developments in the crypto market. The SEC unexpectedly reversed its stance on Ethereum ETFs this week, and approvals seem imminent. Some experts predict that this could cause a 60% increase in the price of ETH.
Additionally, the House recently passed FIT21, the most comprehensive crypto legislation to make progress in Congress so far.
Given these bullish developments, it is understandable for traders to have optimistic predictions for the Bittensor price. Here’s where this cryptocurrency could be headed next.
Bittensor Price Prediction – Future Outlook
The Bittensor price is currently attempting to break above its 50DMA at $456 and its previous monthly highs in the $480s.
If TAO successfully surpasses these levels, it could quickly rally back to post-Binance listing highs above $750. (Source: TradingView)
With the potential for near-term gains of up to 70%, TAO may be the best cryptocurrency to invest in at the moment.
For investors who are considering getting involved, it is not too late to join the surge if TAO is indeed expected to increase by 70%.
Should Investors Consider Crypto Presales?
While TAO has the potential to generate significant profits during the current crypto bull market, investors searching for the best cryptocurrency to invest in right now may want to explore crypto presales.
TAO may not offer more than a 10x upside potential in the near future, but presale investors have the opportunity to make even larger profits.
Crypto presales typically involve upcoming web3 protocols selling their tokens at a very low market valuation. If the project gains traction, presale investors could potentially earn profits as high as 100x.
One promising ICO that the team at Cryptonews recommends is Wiener AI (WAI), a new meme coin with AI utility.
Wiener AI – A Promising Meme Coin with AI Utility
Wiener AI is not just a fun meme coin with a sausage dog theme. It also offers a range of useful AI-powered trading tools.
Investors have already contributed over $2.7 million to WAI’s presale, indicating strong demand for this new meme coin.
Given the current market focus on AI following Nvidia’s impressive earnings, it is expected that demand for WAI will continue to grow.
WAI not only provides AI utility but also presents an opportunity for passive income. 20% of the token supply has been allocated to staking rewards, with investors currently earning a significant 396% APY, as stated on the project’s official website.
At this rate, investors can potentially double their initial presale investment in just a few months.
Leading crypto experts have expressed interest in buying this exciting AI crypto coin. Michael Wrubel, a widely followed crypto analyst with over 312,000 YouTube subscribers, ranks WAI as a top cryptocurrency for 2024.
Interested investors should act quickly, as the WAI price will increase once the presale reaches $2.7 million. Currently priced at $0.000709, WAI’s market cap is below $50 million.
If it achieves market leadership, early investors stand to gain significantly, potentially earning 100x returns or more.
Buy Wiener AI Here
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Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes only and does not constitute investment advice. There is a possibility of losing all invested capital.
