Expert Examines Bittensor’s TAO: A ‘Highway to $1000+’ Rivaling Shiba Inu’s SHIB

Bittensor (TAO), an open-source protocol powering a decentralized machine learning network, saw its price increase by over 12% in the last 24 hours. The cryptocurrency was trading at $499.77 at press time with a market capitalization of $3.09 billion, according to data from Binance.

The significant price boost comes as one analyst predicts TAO could soon surpass the popular meme coin Shiba Inu. “If we break past the $600 sell wall there is a highway to $1000+,” said X platform user Dan. “AI is the main narrative of this super cycle. And #Bittensor has literally no competition at this point. 4 digits soon.”

Dan argues that artificial intelligence is a major theme in the current crypto market cycle. As a protocol focused specifically on machine learning, Bittensor stands to benefit from this growing interest.

Additionally, Bittensor has a first-mover advantage in its niche. The decentralized machine learning network does not currently face any direct competition. With a circulating supply of just 6.19 million TAO, the token has room to see further price appreciation if adoption continues rising.

However, some urge caution before expecting TAO to imminently eclipse SHIB by market capitalization. “Retest is likely going to happen first,” warned crypto analyst Crypτonighτ. “After that we are going for new ath.” This suggests TAO may revisit lower support levels before breaking out to fresh all-time highs.

TAO’s ATH sits at $517.39 which is only 3.3% down from the current levels.

Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!🤫

The key? Getting in early, especially during the IDO phase. Get in on NuggetRush now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the current ICO prices!

Show more +

Nonetheless, market enthusiasm for Bittensor remains high. The protocol saw over $32 million in trading volume over the past 24 hours. If the network can continue expanding and putting its machine-learning capabilities to new uses, TAO may keep turning heads in 2024.

You may also be interested in:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.


Samuel Munene
Samuel Munene

Samuel is a vesatile and seasoned content editor with a sharp eye for detail and a passion for writing. Web3 techonology is the future! With massive experience in the publishing industry, I specialize in refining and enhancing written material to ensure clarity, coherence, and engaging narratives.