After facing the market’s ups and downs, AI cryptos are coming back even stronger today. Several events could lead to another surge in this category by late May. AI cryptos are soaring again this week! Get ready: more opportunities could arise in May.
May: A busy month for AI cryptos ?
AI cryptos are among the most promising assets in recent days. Some lesser-known ones are also on track to achieve substantial gains this spring. However, the best may still be yet to come.
Despite a 3% drop in market capitalization, AI-based tokens are having a strong start to the week. As the crypto market trends downward, the major representatives of the category are standing out, with AIOZ up 14% and Render Token (RNDR) up 8%.
This resurgence in popularity is primarily tied to the recent surge in NVIDIA’s stock. It reached $922 yesterday, its highest point since last April. However, this is not an all-time high, which was set on March 25 at $950. Nonetheless, you get the point: when stock prices go up, AI cryptos tend to follow. This trend could continue for quite some time, as predictions forecast an NVDA price between $1,000 and $1,400 by the end of the year.
But that’s not all: several AI-related events could also boost the tokens. These include the Enterprise Generative AI Summit in California and Tech & AI LIVE in London on May 21, as well as the announcement of Nvidia’s earnings the next day!
In the meantime, keep an eye on this token
Among the most successful AI cryptos, Render Token is the one that gains the most with every new wave of popularity. Today, the asset followed that trend. RNDR surpassed $10 this morning, breaking a key resistance level. It now seems on track to reach its previous all-time high of $14.
For now, $20 seems to be the target by the end of May. However, CoinCodex is betting on a price of $35 by then!
The moral of the story: AI cryptos have high aspirations and no shortage of ambition.
👉 Also in the news – After the drop, is a new all-time high already in sight ?
Sources : Crypto AI according to Crypto.com / Mystery of Crypto X account / D0c Crypto X account
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