Bittensor is one of the best-performing cryptocurrencies at the moment. In the past week alone, Bittensor has rallied by 52% from $287.33 to its current price of $438. Intra-day, Bittensor is up by 5%, making it one of the best crypto performers in the day.
Bittensor is one of the top AI cryptocurrencies that are currently drawing investors’ attention. This is primarily driven by the growing importance of artificial intelligence as the technology that will redefine life as we know it going into the future.
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At its core, Bittensor is all about democratizing machine learning by leveraging the power of blockchain technology. Through Bittensor, machine learning models work together and, depending on the value of their output, are rewarded with TAO tokens.
Bittensor also acts as a repository for machine learning. This means anybody can create permissionless models that help take AI to the world. Also, with distributed rewards, Bittensor enables as many people as possible to benefit from the benefits that AI promises to give to the world.
Bittensor’s potential as an investment is evident because many VCs have invested in it. In the past month, Bittensor has emerged as one of the top AI cryptocurrencies in terms of the VC capital they attract.
Retail investors love the fact that investing in Bittensor is quite easy. You can easily buy it at top centralized exchanges like Kucoin and Gate.io. This ease of access is why buying volumes for TAO are rising.
This article looks into TAO’s price potential to help understand whether it can keep up with the success of other top AI cryptos, such as Fetch.ai.
Bittensor TAO Crypto Price Prediction
When going to press, TAO was trading at $444.81, marking a price increase of 5% in 24 hours. TAO volumes are on the rise, too. They are up by 45% in the last 24 hours to stand at $34 million. TAO’s market capitalization at the moment is $2.7 billion.
From a look at the charts, Bittensor (TAO) has broken through a key resistance level at $393.50 in the day chart. This means bulls are firmly in control, and the token has the potential to test new highs in the short term.
$TAO is flying higher and higher 🚀🚀$TAO at $464 is more than 9x from my Buying price , everyone was laughing when I said it will be a #100x project for me.
They are still laughing, but $TAO will cross $5000 eventually and go further higher 🔥🔥#AI #bittensor https://t.co/ssFZkLCsvl pic.twitter.com/PrbuaZmhV8
— C𝐫y𝐩t𝐨 𝐑.𝐔.𝐁.𝐘 (@CryptoRRR_) January 30, 2024
Going forward, experts believe that Bittensor (TAO) could test $1000 within the year. This is likely to be driven by the excitement around Artificial Intelligence. There is also the fact that VCs are interested in Bittensor, helping drive up the buying pressure.
That said, many other cryptocurrencies offer even more upside potential returns. This is especially the case with meme coins.
TAO Doing Well, But GORILLA Offers More Parabolic Returns
TAO price is doing well relative to the large-cap cryptocurrencies such as Bitcoin and Ethereum. However, some meme coins are doing rounds on their price and in much shorter timeframes.
This explains why investors are putting some of their investments into meme coins despite TAO’s strong fundamentals. Not only are meme coins offering much better returns, but they are also much more affordable. Among the affordable meme coins attracting investor attention is Gorilla (GORILLA).
Gorilla is a top trending meme coin that not only has hype but also a potentially strong use case. By offering users a launchpad for DAOs, tons of NFTs, and a DEX swapping feature, GORILLA has some substantial underlying value, over and above the excitement of meme coins.
The DEX swap feature is a standout feature that is creating a lot of excitement around the GORILLA meme coin. Several advantages come with this feature. One of them is the efficient handling of volatility. By using Gorilla tokens to handle cross-chain token swapping, traders can trade the markets more predictably.
Even better, traders can carry out their operations safely thanks to its stop-loss limit on automated buy and sell orders.
Investors are also drawn to GORILLA for its low market cap. Despite the recent price surge, GORILLA has a low market capitalization of $3.9 million. This, along with a low token supply of just 898 million, gives this token much room for growth as bulls retake control of the crypto market.
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