2024

Artificial Intelligence

Artificial Superintelligence Alliance

Fetch.ai (FET) has demonstrated remarkable growth, with its value increasing by 40.12% in the past week. On February 18, FET hit a two-year peak at $0.8420, the first time since November 2021. Enthusiasts and investors are closely watching this surge, optimistic that the token will surpass its previous record high. The <a href="https://coingape.com/markets/5-best-ai-based-altcoins-to-buy-ahead-of-2024-bull-run/" rel="noopener noreferrer nofollow">AI altcoin</a>‘s prior peak was $1.19 on September 8, 2021, 20.72% lower than the current price. With its strong recent performance, many are speculating about the potential of Fetch.ai price to achieve a new all-time high in 2024
<h2 class="p1" id="strong-span-class-s1-about-fetch-ai-fet-span-strong">About Fetch.ai (FET)</h2>
Fetch.ai is a platform that merges artificial intelligence and blockchain technology to facilitate decentralized finance and data management. Its objective is to establish a network of autonomous economic agents capable of interacting both with one another and with the physical world. Fetch.ai operates its own native token, FET, which serves various functions such as governance, staking, and facilitating transactions within the network.
<h2 class="p1" id="strong-span-class-s1-history-of-fetch-ai-price-span-strong">History of Fetch.ai Price</h2>
<figure id="attachment_181569" aria-describedby="caption-attachment-181569" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-181569" src="https://coingape.com/wp-content/uploads/2024/02/Screenshot-2024-02-20-at-14.50.26.png" alt="Fetch.ai market performance chart" width="940" height="525" srcset="https://coingape.com/wp-content/uploads/2024/02/Screenshot-2024-02-20-at-14.50.26.png 940w, https://coingape.com/wp-content/uploads/2024/02/Screenshot-2024-02-20-at-14.50.26-300x168.png 300w, https://coingape.com/wp-content/uploads/2024/02/Screenshot-2024-02-20-at-14.50.26-768x429.png 768w, https://coingape.com/wp-content/uploads/2024/02/Screenshot-2024-02-20-at-14.50.26-150x84.png 150w" sizes="(max-width: 940px) 100vw, 940px">
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 Fetch.ai market performance chart
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Fetch.ai was founded by Humayun Sheikh, Toby Simpson, and Thomas Hain in 2017. With their extensive expertise in AI and machine learning, they envisioned Fetch.ai as a decentralized network of AI tools capable of communication and mutual learning.
FET was introduced on the Binance Launchpad in 2019, securing $21 million in funding for $0.236 per token. Initially launched as an ERC-20 token, Fetch.ai’s blockchain mainnet became operational in 2020.
According to <a rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/fetch/#Chart" target="_blank">CoinMarketCap data</a>, Fetch.ai trading commenced in 2019, debuting at $0.352 and plummeting to a low of $0.01271 in March 2020. However, as the broader crypto market entered a bullish phase, FET surged and attained an all-time high (ATH) of $1.19 on September 18, 2021.
Following this peak, the price dipped to $0.057 in November 2022. Nonetheless, FET has demonstrated resilience as one of the top-performing tokens during the crypto winter, nearly quadrupling in value to its current price of $0.2194.
As of now, Fetch.ai is trading at $0.9433, with a recent decrease of 1.04% in the last 24 hours. Despite this minor setback, its trading volume has surged by 21.06% to reach $345.7 million, accompanied by a market capitalization of $785.7 million.&nbsp;
<h2 class="p1" id="strong-span-class-s1-reasons-for-fetch-ai-rally-span-strong">Reasons for Fetch.ai Rally?</h2>
There are three main reasons behind the <a href="http://Reasons Behind the AI Coins Rally CoinGape https://coingape.com › blog" rel="noopener noreferrer nofollow">recent gains in Fetch. ai.</a> Firstly, Deutsche Telekom, a telecommunications giant, announced a partnership with Fetch.AI to support the advancement of its blockchain technology. As part of this collaboration, Deutsche Telekom will run a validator to enhance the security of FET’s blockchain. This news is considered one of the primary drivers behind the surge in FET’s value.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 It's a monumental day! Deutsche Telekom (<a href="https://twitter.com/Telekom_MMS?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Telekom_MMS</a>) has joined the Fetch Foundation as a corporate partner, alongside serving as a <a href="https://twitter.com/hashtag/validator?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#validator</a> to the network through their subsidiary, <a href="https://twitter.com/mms_Blockchain?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@mms_Blockchain</a>. Read more below <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/v58DtHPj4J" rel="noopener noreferrer nofollow">https://t.co/v58DtHPj4J</a>
 — Fetch.ai (@Fetch_ai) <a href="https://twitter.com/Fetch_ai/status/1757339382808297822?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 13, 2024</a>
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Secondly, OpenAI unveiled its latest <a href="https://coingape.com/openai-sora-everything-you-need-to-know/" rel="noopener noreferrer nofollow">AI tool, Sora</a>, which has generated widespread attention on social media platforms. The videos created by Sora have sparked excitement among investors regarding the potential of Artificial Intelligence (AI) tokens in the crypto market. This heightened anticipation has contributed to the increase in FET’s price.
Thirdly, there has been speculation about upcoming Fetch.ai (FET) airdrops. Airdrops are special events where existing token holders receive free tokens, which can lead to increased interest and investment in the project. The anticipation surrounding potential airdrops may have influenced investors to acquire FET tokens in hopes of benefiting from such events.
However, <a rel="noopener noreferrer nofollow" href="https://twitter.com/Fetch_ai/status/1759781396497801392">Fetch.ai issued a warning</a> on Twitter, clarifying that they are not currently hosting any airdrops.&nbsp;
<h2 class="p2" id="span-class-s1-b-will-fetch-ai-cross-the-1-mark-to-hit-a-new-ath-b-span">Will Fetch.ai Cross the $1 Mark to Hit a New ATH?</h2>
According to a prominent crypto analyst, Crypto Patel, on the X platform, there’s a prediction that the price of FET will increase by 10 times from its current level soon, reaching $10, following the surge of price by 75 percent in the past two weeks.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 This BULL MARKET <a href="https://twitter.com/search?q=%24FET&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$FET</a> will give really huge Returns IMO<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;">
 Big Dip means buying opportunities.
 My Long Term Target: $10 Best Accumulation if dip: $0.4-$0.3<a href="https://twitter.com/hashtag/cryptomarket?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#cryptomarket</a> <a href="https://twitter.com/hashtag/FET?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#FET</a> <a href="https://t.co/49eOuXNL3V" rel="noopener noreferrer nofollow">pic.twitter.com/49eOuXNL3V</a>
 — Crypto Patel (@CryptoPatel) <a href="https://twitter.com/CryptoPatel/status/1759118210593636842?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 18, 2024</a>
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Overall <a rel="noopener noreferrer nofollow" href="https://www.tradingview.com/symbols/FETUSDT/technicals/" target="_blank">technical analysis</a>&nbsp;suggests a bullish sentiment for Fetch.ai against Tether (USDT), with both moving averages and oscillators leaning towards a positive outlook.
Resistance levels show price points where selling pressure could increase potentially hindering upward movement, in the Fetch.ai price. The highest resistance level, R3 is set at $1.1338 indicating an obstacle for the price to surpass to reach its all-time high at $1.
On the side the support levels indicate price points where buying interest might strengthen, potentially preventing further decline in FET price. However, none of the support levels are near the all-time high of $1 suggesting immediate support to push the price back to its previous peak.
Given the resistance levels and lack of support levels, to the previous all-time high it remains uncertain whether Fetch.ai will achieve its new all-time high at $1 soon.&nbsp;
As the FET price continues to test the resistance level around $1, which is its all-time high, it’s wise for investors to wait for confirmation before considering long trades. If the FET price successfully turns the current resistance into a support level, it may indicate the start of a significant upward trend.
The post <a href="https://coingape.com/blog/fetch-ai-price-analysis-will-fet-price-hit-new-ath-in-2024/" rel="noopener noreferrer nofollow">Fetch.ai Price Analysis : Will FET Price Hit New ATH in 2024</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Fetch.ai Price Analysis : Will FET Price Hit New ATH in 2024

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