By Anticipation in the crypto markets is escalating, especially as we approach the next Bitcoin halving in April and the rising popularity of AI coins.
The AI narrative is not a new phenomenon in the crypto market; Spring 2023 saw a breakout for Artificial Intelligence cryptocurrencies amidst a hysteria around new technologies such as ChatGPT and MidJourney.
Here’s a look at the top AI coins on the market today.
It’s clear that Crytpo x AI is the biggest narrative this cycle
But what isn’t clear is whether a decentralized product 1) has any defensibility 2) can outperform a centralized product for the next several years 3) if there’s any demand for an AI product that isn’t #1
— Tyler Reynolds (@tbr90) February 18, 2024
Fervor for AI and blockchain has sent major AI cryptocurrencies such as Fetch.AI (FET) and SingularityNet (AGIX) skyrocketing, and with similar sentiment emerging in the market this week, let’s dig into the price analysis of the top 4 alluring AI crypto plays.
FOMO Investors Asking ‘Is It Too Late to Buy AI Coins?’ Don’t Miss Out on These 4 Artificial Intelligence Cryptocurrencies
When looking for the best plays in any given vertical, crypto investors need to balance different factors such as market position, tokenomics, market cap. size, and fundamentals to select the best cryptocurrencies.
Analysts have done the work for you – let’s have a look.
4 – The Graph (GRT)
As the leading indexing and query project, The Graph Protocol and its utility token GRT are known as the ‘Google’ of blockchain, providing critical backbone infrastructure for cryptocurrencies across the industry.
Currently trading at a market price of $0.26 (representing a 24-hour change of +10%), GRT has hammered up to the top of the trading channel over the past week.
This comes as a magnificent +56% push off the 20DMA, which has provided GRT price action with a bullish pan-and-handle pattern on the chart.
Now overheated on the RSI, a brief retracement and consolidation might offer a local entry, ahead of what looks to be a skyrocket move by this critical token.
3 – Fetch.ai (FET)
In terms of blockchain-based decentralized AI agents, no project has gone further to establish a blockchain-empowered ecosystem for AI developers to build on than Fetch.ai and the FET token.
Currently trading at a market price of $0.91 (representing a 24-hour change of +10.36%), FET has also seen a major pump over the last week, with price action also finding support above an ascendant 20DMA to post double-digit +72% gains.
With the trading channel shifting to a bullish pennant pattern, it seems likely that FET will continue its climb on the short time-frame, although the RSI now calls for a brief retracement dip.
However, mood is bolstered by the MACD flipping to a bullish divergence at 0.0330 – suggesting Fetch.ai is gaining momentum to the upside.
2 – Injective (INJ)
At the cutting edge of the market sits Injective, an exciting DEX built on Cosmos that uses AI technology to enable traders to executive sophisticated trading algorithms using smart contracts.
Currently trading at a market price of $35.55 (representing a 24-hour change of -3.42%), INJ appears to be on the verge of a breakout from consolidation above a lower support zone, which has seen holders accumulating between $29 and $33.
The past 3-days have seen a distinct technical strengthening stemming from the reclamation of 20DMA support, which has now staged INJ price with stable footing for a push up above localized resistance at $40.
A break above this level could send INJ price skyrocket, especially due to the neutral signal on the RSI – which indicates upside capacity, and bullish sentiment on the MACD which suggests upside momentum is growing.
1 – Scotty AI (SCOTTY)
Fresh-faced Scotty the AI (SCOTTY) represents a beacon of innovation in crypto, blending the cutting-edge realms of AI and blockchain to forge a path toward a new frontier in digital investments.
As we conclude our analysis of the current AI crypto market, it becomes increasingly clear that established AI coins offer mediocre returns, while Scotty the AI shines as a superior alternative.
Offering a unique proposition for those looking to diversify their portfolio, SCOTTY is a project that stands on the brink of revolutionizing the crypto universe.
Scotty the AI, hailed as the “Guardian of the Crypto Universe,” distinguishes itself not just through its compelling backstory but through its practical applications in the crypto space.
With AI-powered features like Scotty Swap and ScottyChat, this project goes beyond mere novelty, offering tangible benefits and utilities that address real-world needs in the crypto community.
The AI-driven Scotty Swap ensures secure, efficient token exchanges, optimizing transactions for maximum gains, while ScottyChat offers unparalleled insights into the market, making it an indispensable tool for both new and seasoned investors.
As the SCOTTY presale gains momentum, now is a pivotal time for investors to consider stepping into this burgeoning project – especially due to SCOTTY’s early presale stage at just $480k raised.
With a significant portion of the total supply allocated to the public sale, the opportunity to participate is ripe, especially given the impressive staking rewards that underscore the project’s commitment to its community’s growth and prosperity.
The roadmap laid out by the Scotty team promises a series of developments aimed at enriching the ecosystem, from community launches and token generation to exchange listings and strategic partnerships, all of which are designed to propel Scotty the AI to the forefront of the crypto market.
Embrace the Future of Crypto-based Artificial Intelligence with Scotty AI
In conclusion, as we navigate the complexities and opportunities within the crypto market, Scotty the AI emerges as a compelling investment opportunity.
Its unique combination of AI and blockchain technology, coupled with a visionary roadmap and a robust presale, positions it as a project with immense potential.
For those looking to venture beyond traditional investments and explore the frontiers of the crypto universe, Scotty the AI offers a gateway to innovation, security, and growth.
Engaging with this project now could not only diversify your portfolio but also place you at the cutting edge of the next wave of crypto evolution – potentially securing you huge gains.
So connect with Scotty the AI on Telegram and X (Formerly Twitter) to stay up to date with the latest project developments.
The post Is It Too Late to Buy AI Coins? The Graph, Fetch.ai and Injective Blast Up and This Other Coin Could be Next appeared first on Cryptonews.
