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- Analyst predicts that AI altcoins led by Render (RNDR) and Echelon Prime (PRIME) could rally in the latter part of the year.
- According to him, the PRIME coin is poised for a bull run and would be better for investors to accumulate when it drops to $15-$11.
The growing demand for Artificial Intelligence (AI) has had a drastic impact on the related cryptos as new technology and advancement dramatically enter the market. Per our data, the AI and Big Data category of the entire ecosystem has reached a market cap of $40 billion, sparking a price surge of 1.6% at press time.
Fascinatingly, the AI altcoins have been tipped to rally in the latter part of the year. Speaking on this was a pseudonymous analyst known as Altcoin Sherpa, claiming that the likes of Render (RNDR), Fetch.ai (FET), Arweave (AR), and the RSS3 (RSS3) are poised for growth. However, coins like RNDR have been struggling in the past few months.
According to our checks, the asset has failed in the past couple of months to return to its all-time high of $13.6 after securing that position on March 17. However, RNDR is returning to bullish ways with a 4% surge in the last 24 hours, 2.8% in the last seven days, and 6% in the last 30 days.
For Altcoin Sherpa, there would be some perfect buying opportunities in the coming weeks.
The play right now is to just be patient, scale into the ones you like and just wait. We’ve seen a decent pullback on many of these and I think that there should be some decent buying opportunities available in the coming weeks. Still bullish on this sector myself.
PRIME Coin and Other AI Altcoins Tipped for a Rally
Another crypto tipped for a bull run is Echelon Prime (PRIME). In the last 24 hours, this asset has surged by 5% to trade at $17. However, the analyst thinks that the $15-$11 zone is the best point to accumulate.
PRIME is a coin that everyone loves and a good gaming play for this current cycle. We’ve seen a strong pullback and I’d personally view the $15-$11 area as a good strong place to accumulate if you like this project. I probably won’t buy but will observe. Lots of good TA (technical analysis) confluence there though with the 0.50 and 0.618 key Fibonacci levels + 200-day exponential moving average (EMA).
According to analysts, AI altcoins have become a topic of discussion for every tech enthusiast as top businesses including Google, Microsoft, OpenAI, and XAI, enter the market. Recently, Ethereum’s Vitalik Buterin expressed his excitement about the AI technology, claiming the “AI-assisted formal verification of codes and bug finding” is his favorite application of the technology.
One application of AI that I am excited about is AI-assisted formal verification of code and bug finding. Right now ethereum’s biggest technical risk probably is bugs in code, and anything that could significantly change the game on that would be amazing.
Similarly, the founder of crypto wallet Frontier, Ravindra Kumar, once stated that the increase in opportunity around the AI and Web3 spaces “combines early interest, potential, and hype.”
