Top 3 AI-Based Altcoins To Buy For Quick 50X Profits

The Artificial Intelligence (AI) narrative, which gained momentum in late 2023, has continued to strengthen throughout 2024. AI-based cryptocurrencies, such as Fetch.ai (FET), have surged nearly 10X and anticipate further growth. Other altcoins to buy, like Render (RNDR) and SingularityNET (AGIX), have also witnessed double-digit gains over the past 30 days.

Recent advancements in the AI sector, including the introduction of AI agents and operating systems, are poised to ignite fresh interest in AI-based cryptocurrencies. Meanwhile, NVIDIA, the world’s largest chip maker, reported a staggering $14 billion profit in Q1 2024, underscoring substantial demand for AI chips. 

1. Fetch.ai (FET) 

Fetch.ai is an AI-based decentralized protocol that enables builders to create AI platforms and services for deploying and scaling AI tools. 

One of the most anticipated market moves by Fetch.ai is its merger with SingularityNET and Ocean Protocol, slated for May 24, 2024. The merger will result in a new token called Artificial Superintelligence (ASI). Consequently, FET will become ASI, while OCEAN and AGIX will migrate to ASI at a 0.433:1 conversion rate, making it a brilliant altcoin to buy.

Following the announcement on March 3, 2024, FET price saw a 90.36% surge in price over the following week, signaling an uptick in interest by investors.

The FET price  at the time of writing is $2.37, which represents a 4.6% decrease in the past 24 hours and a 7.3% increase in the last 7 days. Following a small pullback from the $2.60 level,  Fetch.ai price action is holding nicely just above the 200-day simple moving average (SMA).

FET’s merger with AGIX and OCEAN offers a good arbitrage opportunity for investors if they buy in before the migration.

2. Render (RNDR)

Render is a market leader when it comes to the crypto-AI sector. Its platform provides decentralized GPU rendering services, generating revenue by renting out GPU power to technology companies.

Sitting at a $3.9 billion market cap, Render is up 13.5% in the past 30 days. One of the most notable and recent developments in the Render ecosystem is the recent feature of OctaneX in the Apple iPad keynote presentation. 

According to the “Solana DePIN Snapshot: H1 2024” report by on-chain data firm Flipside, Render is one of the largest drivers of the decentralized physical infrastructure (DePIN) ecosystem on Solana.

RNDR price has been in a consolidating zone, which is part of a larger bull flag. Currently, the asset is at the bottom of the range, which provides investors with an opportunity to bag a 19% profit on the rally back to the top of the range.

The 200-day SMA offers strong support for RNDR, increasing the likelihood of a price bounce.

Overhead resistance for RNDR currently lies at $10.57 and $11.66 levels. Above this, Render price can surge to $17 per token, making it one of the best altcoin to buy.

3. SingularityNET (AGIX)

SingularityNET is a decentralized AI platform created to make artificial general intelligence (AGI) democratic and accessible to anyone. The crypto-AI project will merge with Ocean Protocol and Fetch.ai to form the new Artificial Superintelligence (ASI) token. 

AGIX token will cease to exist and migrate to the ASI token, presenting a lucrative opportunity for investors to make profit. 

According to the official announcement of the merger, ASI will have a total supply of 2.6 billion tokens and a market cap of $7.5 billion. Investors can make at least 1.27X their investment.

AGIX price at the time of writing is $0.964 which represents a 7.9% increase in the past 7 days. 

The SingularityNET price action is sporting an ascending triangle on the daily timeframe, which means a breakout is imminent. AGIX price may rise as the ASI token launch draws nearer.

Bottom Line

The crypto-AI sector is chock full of cryptocurrencies to buy. AGIX, FET, and RNDR are just some of the hottest ones at the moment. Before choosing an altcoin to buy, it is good to do due diligence. The FET-OCEAN-AGIX merger presents a great arbitrage opportunity to holders of any of those tokens. On the other hand, long-term holders should prepare for potential massive gains.

The post Top 3 AI-Based Altcoins To Buy For Quick 50X Profits appeared first on CoinGape.