As a seasoned crypto investor with a knack for spotting trends and analyzing market patterns, I’ve noticed the recent surge in interest around AI-based crypto projects. The potential of these projects is undeniable; however, my experience has taught me that not all will stand the test of time.
The story about artificial intelligence (AI) is gaining significant momentum across various industries worldwide. Major tech companies, including OpenAI, Microsoft, Google, and Meta, are leading the charge in this sector with their groundbreaking advancements. These tech giants are fiercely competing to unveil the most advanced AI tools.
In the realm of cryptocurrencies, investors are keeping pace with innovations. Particularly intriguing are projects that merge artificial intelligence (AI) with decentralized blockchain technology, which have lately garnered significant attention.
Despite the fact that not every cryptocurrency initiative fueled by artificial intelligence will endure, it could be wise for investors to explore robust crypto projects as a potential alternative before the predicted bull market in 2024.
1. Notcoin (NOT) Rallies Thwart Artificial Intelligence Crypto Projects
As a researcher studying the cryptocurrency market, I’ve observed an impressive surge in Notcoin’s price action, which has climbed from a low of $0.005 to over $0.026. This robust rally is a clear sign of substantial bullish momentum. The uptrend indicates growing investor confidence and implies the possibility of further gains in the short term.
In the past week, Notcoin experienced a remarkable surge, reaching an unprecedented high of $0.02644 on June 2, marking a 190% price growth. As a Telegram Mini App, Notcoin’s integration has fueled its rapid rise in popularity, amassing over 30 million users within just two months. Since its launch, Notcoin has seen a significant price jump of more than 144%, making it the most buzzworthy altcoin currently in the market.
As a crypto investor, I’ve noticed that the current upward trend in the cryptocurrency market isn’t exhibiting particularly strong momentum yet. However, this could be a sign that we’re on the brink of entering a more robust bullish phase. The resistance level at $0.03 is looking increasingly vulnerable, and if we manage to break through it, the price could surge towards $0.05, and even reach as high as $0.1 during the next bull run.
2. Terra Classic (LUNC)
According to information from CoinMarketCap, there’s been a 1.55% decrease in value over the past 24 hours, indicating that sellers are gaining more power. However, an uptick of 8% in trading volume to $27 million implies growing market interest in the token.
Terra Classic boasts a market capitalization of over $676 million, placing it as the 118th largest cryptocurrency by this metric. The token in circulation amounts to 5.79 trillion units, while its total supply reaches 6.79 trillion units.
As a crypto investor, I believe that the ongoing development of a consistent network for LUNC and USTC, along with efforts to enhance their efficiency, is another significant factor driving potential price growth in the near future.
Developers unveiled an update, named v3.0.1, for the Terra Luna Classic network on June 2. As stated in the release note posted on X, it was essential to apply this upgrade to the Terra Luna Classic blockchain and carry on with the restoration process.
The Moving Average Convergence Divergence (MACD) supports the bullish perspective. Yet, it is crucial that the MACD line remains above the signal line to substantiate this optimistic view. Ultimately, such confirmation could boost traders’ confidence in LUNC, potentially leading to a significant price increase of up to 65%, or $0.0002.
3. GameStop (GME)
GameStop’s meme coin, recently introduced as a tribute to the GameStop Corp (GME), has gained significant traction among investors. Known as a meme stock, GME is renowned for its capacity to elicit substantial price hikes. Currently, the meme coin is valued at $0.012 following an unsuccessful attempt to replicate Monday’s surge, which peaked at $0.014.
The MACD indicator is currently signaling a short-term bearish trend for GME. This outlook will be confirmed when the blue MACD line drops below the orange signal line. As the histograms approach the neutral line, the bearish influence becomes more pronounced.
If you trade GameStop crypto and the price falls below its daily opening by $0.014, this is an additional bearish indication to consider. However, if the support at $0.01 holds, a potential recovery could follow, potentially leading to another rally towards $0.0185.
Bottom Line
Artificial intelligence is a hot topic in the cryptocurrency sphere, drawing significant interest. However, this trendiness brings increased volatility as well. To mitigate potential risks, consider expanding your portfolio by investing in more stable crypto assets such as LUNC, rather than relying heavily on artificial intelligence projects.
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2024-06-04 21:44