Fetch.ai Price Prediction: FET Falls 7% In A Week As This 2.0 Meme Coin Soars 31% In A Month

General

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The
Fetch.ai
price
has
dropped
7%
over
the
last
week
to
trade
for
$2.6788
as
of
06:52
a.m.
EST
time.

Over
the
last
24
hours,
the
FET
price
is
up
almost
2%
as
part
of
a
recovery
rally,
but
trading
volume
is
still
down
a
stark
16%.

The
Fetch.ai
network
is
underway
with
a
community
vote
that
started
on
April
2
and
will
end
on
April
7
to
decide
whether
FET
should
be
integrated
into
the
Artificial
Superintelligence
(ASI)
token.

Basic
Details
Of
The
Governance
Proposal
As
The
Fetch.ai
Price
Works
Out
Its
Next
Directional
Bias

There
are
several
key
elements
of
the
governance
proposal.
To
begin
with,
if
approved,
it
will
lead
to
the
renaming
of
the
network
and
FET
token
to
ASI.

Secondly,
there
will
be
a
hard
fork
of
the
FET
token
contracts
on
the
ETH
and
BSC
networks.

Third,
the
network
will
provide
a
notice
for
the
change
in
the
total
supply
of
tokens
to
allow
other
projects
to
join
the
Artificial
Superintelligence
Alliance.

It
is
worth
it
to
note
that
the
third
element
has
sprouted
some
controversy,
with
community
engagement
on
the
FET
announcement
indicating
that
FET
holders
are
concerned
about
the
total
supply.
Most
are
calling
for
a
supply
as
high
as
1.5
billion
tokens.

Notably,
the
governance
proposal
is
only
available
to
FET
token
stakers.
Moreover,
other
parties
to
the
merger,
SingularityNET
(AGIX)
and
Ocean
Protocol
(OCEAN)
community
members
will
vote
on
their
side
regarding
the
proposed
alliance.
Separate
governance
proposals
and
corresponding
tokenomics
updates
will
be
submitted
for
each
project.

For
FET
stakers,
the
network
indicates
that
the
validator
one
uses
to
stake
does
not
matter.
What
has
bearing
is
the
amount
of
FET
one
stakes
as
this
will
determine
how
effective
the
staker’s
vote
will
be.
Those
who
stake
on
an
exchange
are
required
to
check
the
exchange
for
their
ability
to
take
the
vote.

Fetch.ai
Price
Prediction
Amid
Ongoing
Community
Governance
Vote

The
Fetch.ai
price
has
broken
below
support
due
to
the
78.6%
Fibonacci
retracement
level
of
$2.8432.
This,
coupled
with
the
fact
that
the
Parabolic
Stop
and
Reverse
(SAR)
indicator
is
trailing
the
FET
price
from
above
suggests
overhead
pressure
is
mounting.

However,
as
the
Fetch.ai
price
is
well
above
the
most
important
Fibonacci
retracement
level
of
61.8%
at
$2.3406,
the
upside
potential
remains
alive.
This
is
reinforced
by
the
position
of
the
Relative
Strength
Index
(RSI)
above
the
‘50’
mean
level,
suggesting
bullish
sentiment
continues
to
abound.
The
same
is
accentuated
by
the
position
of
the
Awesome
Oscillator
(AO)
in
positive
territory.

If
the
bulls
increase
their
buying
momentum,
the
Fetch.ai
price
could
push
north
to
reclaim
support-resistance
at
$2.8432.
In
a
highly
bullish
case,
the
gains
could
see
the
Fetch.ai
price
extend
a
neck
higher
to
tag
the
$3.4835
peak
of
the
market
range.
Such
a
move
would
denote
a
climb
of
around
30%
above
current
levels.

Fetch.ai


TradingView:
FET/USDT
1-day
chart

Converse
Case

On
the
other
hand,
if
the
bears
have
their
way,
the
Fetch.ai
price
could
extend
the
fall
to
test
the
$61.8%
Fibonacci
retracement
level
of
$2.3406.
If
this
support
breaks,
the
AI
crypto
coin
could
roll
over
to
the
50%
Fibonacci
placeholder
of
$1.9876.
A
break
and
close
below
this
level
would
invalidate
the
big
picture
bullish
thesis.

Sellers
should
watch
for
the
FET
RSI
breaking
below
the
50
mean
level
as
well
as
the
AO
slipping
into
negative
territory.
Decisive
moves
for
both
momentum
indicates
would
be
ideal
exit
points
for
FET
holders
as
it
would
mark
the
beginning
of
the
downtrend.

Meanwhile,
Sponge
V2
has
surged
31%
in
a
month,
with
analysts
predicting
it
could
10X
when
it
launches
on
additional
top-tier
exchanges
soon.

With
the
BTC
halving
due
to
happen
in
just
over
two
weeks,
meme
coin
mania
is
likely
to
break
out
again,
with
Sponge
V2
nicely
positioned
to
thrive
as
a
part
of
the
FOMO.

Promising
Alternative
To
Fetch.ai

With
the
cryptocurrency
market
counting
the
days
to
the
halving,
investors
are
also
looking
at
other
promising
alternatives
for
their
portfolio
diversification.


Sponge
V2
is
the
successor
to
Sponge
V1,
which
was

discontinued
on
Feb.
5.
It offers
investors
who
missed
out
on
the
SPONGE
V1
train
a
chance
for
a
do-over.

Marking
the
relaunch
of
the
project,
the
second
version
merges
the
fun
and
engagement
of
its
dedicated
meme
coin
community
with
a
unique
staking
model
and
new
play-to-earn
(P2E)
game
to
take
the
Sponge
brand
to
the
next
level.

Featuring
among
the meme
coins
that
analysts
say
could
record
exponential
gains at
launch,
Sponge
V2
now
has
a Polygon
version
and
an
Ethereum
version.
The
migration
to
Polygon
was
inspired
by
a
recent
malicious
attack
on
its
liquidity
pool.

The
token
is
already
on
Poloniex
exchange
and
will
soon
list
on
multiple
other
exchanges.
However,
before
this
happens,
the staking
function continues
to
give
investors
multiple
opportunities
for
earning
income
passively.
Buy
and
stake
Sponge
V2
to
start
earning
rewards
today.

Stake
SPONGE
V2
For
High
Yields

Spongers
will
gain
tokens
by
staking
$SPONGE
before
the
claim
date.
Token
holders
are
currently
enjoying
annual
percentage
yields
(APY)
as
high
as
168%
on
Ethereum
and
371%
on
Polygon.
So
far,
upwards
of
9.6
billion
tokens
have
been
staked.
This
is
among
the
reasons
why
analysts
rank
it
among
the top
five
cryptos
to
invest
in
now.

Stake Sponge V2

Crypto
YouTuber
Jacob
Bury
ranks
Sponge
V2
among
the
best
meme
coins
to
buy
now.

With
the
Solana
hype
fading,
and
Ethereum
being
the
leading
altcoin,
the
recent
bullish
turn
in
the
market
could
potentially
inspire
confidence
in
meme
coins
on
its
network.


Visit
and
buy
Sponge
V2
here.


Also
Read:

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