Artificial intelligence tokens FET and TAO are gaining traction in the cryptocurrency market. Recent data suggests they could grow significantly in 2024. As the broader cryptocurrency market remains uncertain, these AI-focused tokens are attracting investors seeking innovative options.
Learn why AI tokens FET and TAO are poised for massive growth in 2024
1. FET（Fetch.AI）
FET’s price action suggests a possible rally. It recently broke out of an inverted head and shoulders pattern, which is typically a bullish sign. FET is up 71% in the past month, outperforming many other tokens.
Its futures financing rate has turned positive, indicating increased long positioning and growing market optimism.
Telegaon predicts that the average price of a FET could rise from $3.86 in 2024 to $91.06 in 2040. This forecast suggests huge long-term growth potential for FET investors:
“If you are going to hold Fetch AI Coin for the long term, it has a huge potential. According to our long-term Coin price prediction, FET Coin price may hit a new ATH level this year. Based on the market trend, we expect the average price to be $91.06 in 2040. Our highest price prediction for Fetch AI Coin is $104.23 in 2040. If the market is bullish, the price of Fetch AI Coin may exceed our Fetch AI Coin price prediction in 2040. If the market is bearish, the lowest price level of Fetch AI Coin may be around $82.41 in 2040.”
2. TAO（BitTensor）
TAO also shows a bullish outlook. Its price is rising to fill the gap created by the recent price surge. TAO has gained 28% in the past month, a solid performance.
While TAO’s growth has not been as meteoric as FET’s, its steady growth demonstrates continued investor interest in its AI-driven approach.
TAO’s forecast for Telegaon is even more optimistic. It expects its average price to grow from $347.75 in 2024 to $8,371.17 in 2040, indicating that the AI crypto market has huge potential returns:
“If generative AI tokens like Bittensor can survive in 2040, they might make new history. However, making long-term price predictions is not easy. Here, we will calculate it through the current performance. By 2040, if the current growth continues, we expect the average price might reach $8,371.17. According to our price prediction, Bittensor might hit a new ATH level this year. Our highest price prediction for Bittensor is $9,456.46 in 2040. If the market is bullish, the price of Bittensor coin might exceed our price prediction for 2040. However, if the market is bearish, the lowest price level might be around $7,489.26.”
Market performance
AI tokens have outperformed the rest of the cryptocurrency space recently. Fetch.AI (FET) and BitTensor (TAO) have both shown strong growth since August. They have benefited from the renewed interest in AI technology.
The chart shows that AI coins outperformed DeFi, meme coins, and layer 1/2 solutions.
Comparative Analysis of AI Tokens
When comparing FETs and TAOs, FETs appear to have the advantage in recent performance and market metrics.
FET has a larger market cap and a higher volume-to-market cap ratio, which means it may be more stable. However, both currencies show promise in the AI-driven crypto space.
Artificial intelligence is transforming many industries, and tokens such as FET and TAO are expected to benefit from this. Their recent performance and technical indicators suggest that growth may occur in 2024. However, the cryptocurrency market is very volatile, so investors should keep a close eye on these AI tokens.
