The artificial intelligence (AI) sector continues to gain traction, propelling the prices of AI-focused cryptocurrencies like SingularityNET (AGIX) and Sleepless AI (AI) to new heights. But what ios behind their price swings?
What you'll learn 👉
SingularityNET (AGIX) Soars Amidst AI Boom
SingularityNET, a decentralized AI network, has been riding the wave of the AI boom. After picking up momentum at the end of January, the price of AGIX has continued its upward trajectory, rising from around $0.24 to an impressive $1.2, representing a staggering 400% increase.
This surge in AGIX’s price is directly attributed to the broader enthusiasm surrounding AI cryptocurrencies. While the price experienced a brief retracement for about three days, the current rise is fueled by a decisive breakout and sustained momentum above the $0.9 level. Notably, AGIX’s chart has closed bullish for the past five consecutive weeks, further solidifying its upward trend.
Sleepless AI (AI) Spikes After Launch
Another cryptocurrency making waves in the AI sector is Sleepless AI (AI). Launched on January 4, 2024, Sleepless AI is a web3 and AI-integrated gaming platform that offers users a unique interactive gaming experience by seamlessly incorporating artificial intelligence into gameplay.
The platform allows users to stake BNB, FDUSD, and TUSD to earn AI tokens over a seven-day period. These AI tokens are tradable on Binance, with various trading pairs available, including AI/BTC and AI/USDT.
Utility and Use Case Drive Appeal
Sleepless AI’s price has spiked by more than 30% today, driven by its innovative use case and utility in addition to the broader surge in AI cryptocurrencies. The platform’s ability to integrate AI into gaming has added to its appeal among investors and users alike.
Following its launch, the AI token traded sideways throughout January and into the beginning of February. However, a breakout from the consolidation phase was followed by another period of sideways movement until yesterday, when a decisive breakout occurred. This breakout has been accompanied by a 35% price surge, with bulls eyeing even higher targets.
Technical Indicators Hint at Further Upside
Sleepless AI’s technical indicators suggest that the rally may have further room to run. With the Relative Strength Index (RSI) currently at 66, there is still potential for the price to continue rising before reaching overbought levels, which could trigger a retracement.
Additionally, the recent breakout and successful retest of previous resistance levels have provided a solid foundation for further price appreciation. Given the strong momentum and bullish sentiment surrounding AI cryptocurrencies, Sleepless AI’s price could be gearing up for something substantial in the near future.
As the AI revolution continues to gain momentum, cryptocurrencies like SingularityNET and Sleepless AI are capturing the attention of investors and users alike, propelling their prices to new heights and showcasing the potential of blockchain technology in the rapidly evolving AI landscape.
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