AI Superintelligence Union Reverses Downward Trend: Possible FET Surge - Can FET Prices Exceed $1?
One Shot, One Kill - FET Breaks Free, Hitting a 3-Month High!Get in on theAction* FET, the AI powerhouse, has torn loose from a stubborn downtrend, bounding to a breathtaking 3-month high of $0.85.* Caught in the crossfire, FET's price hovers at $0.8476, representing a spectacular 9.10% day-to-day spike.
Artificial Cerebrum Coalition [FET] strides confidently, shrugging off a multi-month slump to place its sights square on fresh horizons.
As of this moment, the AI titan exchanges hands at $0.8476, marking a 9.10% surge in 24 hours.
After hitting an apex of $2.2 back in December 2024, FET had found itself ensnared within a tightening vice of a downward trend, sinking below the $1 barrier.
However, with the cryptoverse bouncing back towards recent peaks, FET's price chart reveals a stark turn for the better.
Over the same period, the AI titan's trading volumes spiked by 47.06%, reaching an impressive $295 million. So, what's behind this price revolution?
Boots on the Ground - Uncovering the Cause
According to our intel, two key factors are driving the altcoin's unprecedented surge. First, the altcoin's fervent network expansion and growth have soared.
Daily Active Addresses surged to 1.3K, hitting a 2-month high. In addition, Network Growth skyrocketed to 398, leaping back to levels reminiscent of March.
Source: Santiment
The second factor is the groundswell in demand from whales and retailers. Both whales and small-time investors were investing once more. Demand from these two groups fuels the price surge.
Source: Coinalyze
Checking FET's Spot Buy vs. Sell volume, it's evident that investors have scooped up a hefty 4.4 million tokens, with a net gain of 989k, indicating that retail investors are buzzing with activity, triggering a buying frenzy.
This intense buying activity isn't confined to the retail market.
According to IntoTheBlock, whales have vacuumed up an impressive 21.2 million tokens in the last 24 hours. The surge in Inflow has left whales awash in a positive capital inflow of 8.11 million tokens.
Source: IntoTheBlock
This suggests that whales are buying far more than they are selling, a clear sign of robust accumulation. When whales hunker down to purchase, it signifies faith in the market, as they anticipate further price increases.
Consequently, the network's expansion, paired with demand, has powered FET's break from a stubborn downtrend.
Where Do We Go from Here? - $1 or Back to the Drawing Board?
Given the data presented above, it's apparent that FET is experiencing a tumultuous buying rush from investors across all market segments.
As network adoption swells, FET's scarcity is on the rise too. Its Stock-to-Flow Ratio has increased, reflecting a shrinking pool of tokens ready for sale as accumulation addresses flourish.
Source: Santiment
Historically, an escalating scarcity as investors snap up tokens precedes a price rally. If the status quo persists, FET might make a daring breach above the $1 barrier and soon test the $1.20 frontier.
However, there is a caveat. Investors who missed the boat during the past few months may opt to settle their accounts. If that happens, FET could find itself retreating to $0.73 before regaining its footing.
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- Amidst the resurgence of the crypto market, Artificial Cerebrum Coalition [FET] has tapped into the potential of artificial intelligence technology, with its price surge driven by growing network demand from both retail investors and whales. As the scarcity of FET increases due to intense accumulation, the token has wrestled free from a prolonged slump, spiraling towards a new horizon.
- With FET's impressive increase in trading volumes, the altcoin has successfully navigated the crypto market's ups and downs, positioning itself at the forefront of a burgeoning trend. As AI powerhouse FET continues to expand its network and attract meaningful investment, the token's integration of artificial intelligence and blockchain technology could potentially bring about significant consequences in the broader tech landscape.
