2024 may well be remembered as the year of AI coins. AI was the second most lucrative category of 2023 (third if meme coins are included), trailing only behind L2s. Fetch.ai, our former top recommendation, acquired 6x returns that year, as the top-performing asset.
See Related: 5 Crypto Price Predictions For 2024
We believe that AI is going to be a top industry moving forward. ChatGPT set out a new trend of AI coin investment in 2023, but this is likely only just beginning. AI is the next big narrative in 2024. In line with this, we’ve selected one top AI coin that could perform as well, if not better, than Fetch.ai.
Why AI coins?
In a recently published article, we outlined a new era of AI 2.0 investing as a top trend for 2024 and beyond. As said, 2024 will be the year of asymmetric crypto returns. AI coins were the second-best category in 2023 and there are plenty of reasons why the industry could take off.
The rise of AI products in general encourages a need for equivalent blockchain networks designed to assist. Decentralized ledgers and AI go hand in hand to solve real-world problems. Fetch.ai, for instance, can assist with transport, as a project that connects devices, services, and people through “agents”.
#AI Agents Can Transform Public Transportation 🤖
Transportation currently faces challenges like delays due to traffic, inefficient routes, and long passenger wait times. 🚦
In this thread, let's explore how Agents fix this 🧵👇 pic.twitter.com/T3zzFJBsZA
— Fetch.ai (@Fetch_ai) September 13, 2023
Meanwhile, the Render (RNDR) token provides a way for idle GPUs to train and query machine learning (ML) models. Akash Network (AKASH) offers a low-cost cloud infrastructure while Injective (INJ) is a fully decentralized L2 focused on DeFi.
The AI sector as a whole also offers possible solutions to many systemic problems across the globe – housing, climate change, healthcare, real estate, etc. Combining blockchain with AI could be a great way to enhance operational efficiency across multiple industries.
The best AI coin for 2024
We successfully predicted Fetch.ai as a top performer in 2023. We believe we can do the same in 2024, in the exact same industry, but for a different AI coin. Our recommendation is based on the following chart analysis along with other technical indicators and fundamental signals.
The falling wedge in 2022 to mid-2023 suggests tremendous upside and the consolidation (multi-colored areas) has all the signs of a bullish reversal. The red and purple areas are signs of a pre-momentum zone, so bullish support can be observed just underneath that area.
The red falling trendline and the support zone will coincide around March or April 2024. The resolution of this bullish pattern will occur no later than April 2024. A major breakout is imminent.
This token, with 5x to 8x potential, is available to all of our premium subscribers. After signup, the token is immediately available.
Disclaimer: This is not financial advice. Please consult with a licensed financial advisor prior to making any investments.
