- AI-based tokens have seen a price increase.
- As new addresses are added, the tokens’ price increases.
As the crypto market entered a bull run, AI-based tokens like memecoins have outshined other altcoins.
AI takes over
The activity of AI tokens, and memecoins has resumed despite the fact that the cryptocurrency markets have been in an abnormally static state for the past 24 hour. AGIX RNDR FET were all seen to surge in value earlier in the morning, but then started a downward trend a short time later.
In the past few weeks, these tokens have consistently shown higher highs and lower lows. This has established a clear bullish tendency.
AGIX currently trades at $1.15 and RNDR is at $9.80. FET is at $2.59. These three stocks are showing a positive trend in the current market.
Consistently higher highs and lower lows are seen on price charts, which indicates a positive market sentiment and potential interest in buying.
RSI (Relative Strength Index) also increased for tokens.
AGIX tokens, RNDR tokens, and FET are all affected by the recent rise in RSI.
An elevated RSI is indicative of high buying pressure. This can be seen when the RSI exceeds 70, indicating a strong bullish momentum. This is in line with the higher highs, and higher lows observed in the price charts. It confirms the strength of the uptrend.
On the bullish end, the RSI surge indicates the potential of continued upward movement and an extension bullish trend.
Traders should be on the lookout for any signs of potential overextension and divergences, especially if RSI values are high. This could be a sign of a trend correction or reversal.
AI tokens attract new addresses
AMBCrypto analyzed Santiment’s datasets and discovered a significant increase in the growth of AGIX RNDR FET. This increase in network growth indicates that there are a large number of new token addresses.
The influx of addresses suggests a growing audience of investors and users are getting involved in AGIX.
This rise in network growth coincides with the positive trends in price movements, and supports the idea that these tokens are attracting interest and engagement in the cryptocurrency markets.
Social volume dictates price
Recent developments in the AI industry have generated a lot of buzz, which is why AI tokens like AGIX RNDR and FET are gaining so much interest.
This surge is similar to what we see in the memecoin market, where the main influence on the market is hype and social media buzz.
FLOKI PEPE and WIF also experienced a drop earlier today, but resurged after three hours.
Along with the increase in the price of these tokens, the social volume has also increased significantly.
A significant increase in the sentiment index around WIF, FLOKI, and FLOKI-related tokens suggests that more positive than negative comments have been made on social media.
There was a noticeable divergence with PEPE. This is because the sentiment index experienced a substantial decline. This change in sentiment towards PEPE could have an impact on its price, possibly signaling a correction in the near term.
Here are some realistic or not FLOKI’s market cap in BTC’s terms
At the time of publication, PEPE, FLOKI, and WIF were trading at $0.00000798 ($0.000184), $0.000184 ($0.000184), and $2.16 respectively.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: ambcrypto.com