AI-Based Crypto Bittensor Becomes Best Performer in the Market – Are AI Coins Making a Comeback?

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Sam Cooling

Author

Sam Cooling

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Sam is a financial journalist with a focus on cryptocurrency market news, based in London. With a Master’s Degree in Development Management from the London School of Economics, Sam’s passion for…

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Last updated:

August 9, 2024 02:03 EDT

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Are AI Coins making a comeback? Bittensor, an AI-based cryptocurrency, has turned bullish as the TAO price pushes an upward move.

In this article, explore the latest update on TAO price trends and uncover a lesser-known low market cap gem that could supercharge your summer trading.

Market sentiment surrounding one of the leading AI coins, Bittensor (TAO), has flipped bullish amid an emergent double-bottom support pattern, which has boosted trader confidence.

AI Crypto Flips Bullish as Bittensor Leads Charge: Are AI Coins Making a Comeback?

This comes amid a wider revival in AI Coins, which suffered heavy losses earlier this week after Jump Capital triggered a market-wide crypto crash on Monday.

A glance across the AI vertical, which broke out as a top performer alongside meme coins, RWA, and DePIN tokes in Spring 2024, shows a resilient recovery underway for the top AI projects.

Amongst all AI coins, Bittensor stands out as a market leader, remaining the only top token in the vertical that can boast a 7-day gain (TAO is currently up +2.93% Week-on-Week).

Other notable recoveries in the AI market include Render (RNDR), Akash Network (AKT), and Golem (GLM).

However, with all top coins showing upside moves over the 24 hours, it’s safe to say that one of 2024’s most promising crypto verticals is making a comeback as markets look towards a bullish September.

TAO Price Analysis: Bittensor Crypto Leads AI Coin Recovery – But Where’s TAO Heading From Here?

As TAO fights a major layer of upside resistance, Bittensor is currently trading at a market price of $297 (representing a 24-hour change of -1.3%).

The minor localized retracement on the daily comes after an impressive +98% bounce out of Monday’s crypto crash, with price hammering back up to the top of the descendant long-time frame trading channel.

In an immense display of strength, TAO has been spotlit as a market favorite AI coin. However, it now faces a major test from resistance stemming from a convergence of the descendant upper-trendline and the $342 historical price level.

A break to the upside here would represent a bullish breakout move, which could rocket if the wider crypto market recovers.

And this isn’t a prospect to be scoffed at; the recent recovery bounce has seen TAO price hammer back above support from the 20DMA – pinning the price in a tight range between resistance and support.

This bodes well for a retest and suggests that a breakout could be on the horizon for Bittensor. However, the upside is still limited by the historical price level of $490.

For this reason, quickfire gains in the recovery market might best be unlocked in a low market cap play like Base Dawgz.

Base Dawgz: The Multichain Meme Coin Captivating Traders

Base Dawgz continues its successful presale, raising over $2.8 million. Dawgz could be the next big launch on the Base blockchain with huge gains from its minuscule market cap.

A new meme coin that offers several features for its holders:

1. A multi-chain approach: DAWGZ will be on the Base blockchain and tradable on ETH, SOL, BSC, and AVAX. Thanks to technologies such as Wormhole and Portal Bridge, it will be possible to trade DAWGZ across multiple blockchains seamlessly.
2. Share to earn: Link your X account, create memes, and share other content on Base Dawgz. This way, you will earn points that can be redeemed for $DAWGZ tokens once the presale is complete.
3. Staking option: Buy and stake your $Dawgz with a current APY of 1442%.
4. Refer and Earn: Whenever someone uses your referral link to buy DAWGZ during the presale, you’ll earn a 10% commission in USDT.

The blockchain Base has gained much popularity as it is used, along with Solana, to launch several meme coins. Base Dawgz could be the next big hit for this blockchain.

The price is $0.007414 per $DAWGZ before the next increase. Remember to stake your tokens to earn passively with an APY of 907%.

Make sure to stay tuned with the Base Dawgz X and Telegram.

Buy DAWGZ Here

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.