AI coins are currently stuck in a chopping range, showing no clear price direction.
Market sentiment has shifted as investors await real-world utility from AI blockchain projects.
Broader crypto market conditions and external factors contribute to AI coins’ price stagnation.
AI-linked cryptocurrencies like FET and AGIX are experiencing price stagnation. These AI coins, once popular, are now trading sideways without a clear direction.
A chopping range occurs when an asset’s price moves sideways without significant gains or losses. For AI coins, this sideways movement followed a period of rapid price rise in early 2024. But now, many of them are struggling to break out.
Investor sentiment has changed as well. The initial excitement for AI tokens has cooled. Speculative interest drove the initial price surge, but traders are now more cautious. Many investors are waiting to see real-world applications that have led to market indecision.
External forces have also played a role for the price to stagnate. The broader crypto market is declining, with major coins like Bitcoin and Ethereum struggling. This has affected the entire market, including AI coins.
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