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This AI Coin is Set to Burn: Analysts Expect a Rally!

Bu Yapay Zeka Coin, Yakmaya Hazırlanıyor: Analistler Ralli Bekliyor!
Bu Yapay Zeka Coin, Yakmaya Hazırlanıyor: Analistler Ralli Bekliyor!
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The AI Coin project Fetch.ai plans to burn 5 million tokens on January 10, 2025. Thus, it aims to reduce supply and increase demand. The recent excitement over AI coins has also fueled speculation about a potential rally for FET. Meanwhile, the FET price has increased by 2 percent in the last 24 hours. Analysts predict a potential rise towards $ 3.

AI Coin project is preparing to burn 5 million FETs!

Humayun Sheikh, co-founder of Fetch AI, announced the burning of 5 million FET tokens on January 10. The initiative aims to reduce the total supply of FET tokens, which is expected to increase their value by creating scarcity in the market. Token burns are generally welcomed by the crypto community. This is because they usually lead to an increase in demand for the remaining tokens and a rise in prices. This move aims to actively manage the token supply. Thus, it signals a strong commitment to increasing the long-term value of its ecosystem.

Yapay zeka coin

A strong alliance in the field of artificial intelligence!

In addition to the token burn, Fetch AI completed its strategic alliance with Ocean Protocol and SingularityNET. This led to the formation of the Artificial Superintelligence Alliance (ASI). This merger strengthens its position in the decentralized AI sector by offering a competitive alternative to the tech giants’ centralized control over AI development. The merger also paves the way for a unified token for all three projects, the ASI token. According to experts, this could further boost the AI coin price. The community also has high expectations for a price increase. This makes this a very important period for the project.

What’s next for FET?

The Artificial Superintelligence Alliance (FET) has been rising steadily as anticipation builds around the FET token burn. At the time of writing, the FET price is trading at $1.47, up 2% in the last 24 hours. The token’s price has fluctuated between $1.44 and $1.50 in the same time frame. As the FET token burn event approaches, the market is closely monitoring the impact of the supply reduction on the price. Meanwhile, a popular market expert CW noted that AI Coin recently completed a retest after breaking a falling wedge pattern. This suggests that a rally is imminent. The analyst predicts that FET will reach a target price of $2.25 because it did not break the previous low. This reinforces confidence in FET’s potential upward movement.

Source: CW, X

Furthermore, analyst Scient shared a chart for FET, which shows that the crypto will rise to around $3. However, he also warned that if it falls below the $ 1.365 support, it could witness a drop of up to $ 0.8.

Source: Scient, X

The forecasts in the article belong to analysts and are not investment advice. As Kriptokoin.com, we strongly recommend that you do your own research before investing.

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This AI Coin is Set to Burn: Analysts Expect a Rally!
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