AI crypto Arweave gains 17% gain: Will AR lead the ‘alt-rebirth’?

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    As of press time, Arweave gained 0ver 17% in the last 24 hours.
    AI coins set to lead alt-rebirth, but will AR double its price.

As a seasoned crypto investor with a knack for spotting trends and a penchant for AI-driven projects, I find myself increasingly intrigued by Arweave (AR). The recent surge of over 17% in just 24 hours has certainly caught my attention. If the AI coins are indeed leading this alt-rebirth as predicted, it’s hard not to consider AR as a potential frontrunner.

Arweave (AR) has attracted substantial interest, demonstrating noteworthy expansion alongside other altcoins that emphasize artificial intelligence (AI).

Over the past day, the cost of AR has significantly risen by more than 17%, while its trading volume experienced a substantial jump of approximately 134%. This information is based on data provided by CoinMarketCap.

At a current price of $23.9 and boasting a market capitalization of $1.5 billion, Arweave stood out as a top performer among artificial intelligence-focused cryptocurrencies. Analysts anticipate that it could yield additional growth in the upcoming months.

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As an analyst, I find myself drawn to the innovative realm of AI-powered altcoins like Arweave, spearheading what seems to be a new era, or as some might say, a “rebirth” within the altcoin market. This revitalization is gaining momentum due to robust financial reports from tech titans such as Nvidia, igniting renewed enthusiasm for Artificial Intelligence technologies, thereby fueling this trend.

Similarly to other digital currencies associated with artificial intelligence like Bittensor (TAO), NEAR Protocol (NEAR), and Artificial Superintelligence Alliance (FET), have experienced significant growth, which has generated a positive outlook within this particular market sector.

In the ongoing transformation of the cryptocurrency market by AI, Arweave emerges as a strong contender for leading the revival of alternative coins.

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Can Arweave double its price by the end of the year?

Arweave breaks a major pattern

In simpler terms, the connection between AR and USDT (Tether Dollar) has just burst through a six-month-old descending triangle pattern. This technical breakout is a positive sign, implying that the value of the AR coin might keep increasing further.

If Arweave manages to exceed the $50 mark, it would indicate a 100% increase from its present value, as many signs suggest this growth.

The MACD signal further confirms a robust upward trend, suggesting that prices are likely to keep rising. A plausible forecast for the last quarter of 2024 puts the price at approximately $35, offering an almost 50% profit on your investment.

AI crypto driving altcoin rebirth

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A significant pattern emerging in the cryptocurrency world is the rise of alternative coins (altcoins) powered by artificial intelligence, such as Arweave, which hints at a revival or “second life” for altcoins (the “alt-renaissance”). This could be a time when these altcoins outshine Bitcoin as its influence on the market wanes.

The increasing bullishness is also supported by various technical indicators such as the Relative Strength Index (RSI), suggesting a rise in optimistic market sentiments.

With Bitcoin’s influence waning, it’s predicted that the market for alternative cryptocurrencies, particularly those focused on artificial intelligence, could soon escape their ongoing slump, marking the start of a period often referred to as “altseason.

Whales are dominating longs

Beyond the technical indicators, it’s also notable that big-time investors, often referred to as “whales,” appear to be amassing Arweave.

The gap between whale and retail investor behavior in AR (green line), known as the whale-retail delta, indicates that larger investors or ‘whales’ are progressively buying more of AR, while smaller retail traders continue to stay bullish.

This discrepancy indicates that whales seem optimistic about a sustained price increase, thereby reinforcing the bullish perspective for Arweave.

In summary, the bid-ask spread leans slightly towards higher bids, pointing towards a positive or optimistic market outlook. As this ratio increases, it typically means there is greater demand for AR compared to its available supply.

This indicates a possible rise in prices within a brief period, driven by increasing curiosity surrounding Augmented Reality (AR). Furthermore, it hints at larger investors preparing to boost the price further.

Read Arweave’s [AR] Price Prediction 2024–2025

Arweave (AR) is gaining traction due to the growing popularity of AI-supported altcoins. Its robust technical indicators and large investor purchases suggest that AR’s price may keep climbing.

The bullish market environment suggests AR could double its price by year-end.

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2024-09-24 23:36