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The io.net price is up 51% in the past 24 hours to trade for $5.8655 as of 00:05 a.m. EST on trading volume that surged 61%.
It comes amid strong bullish sentiment in the market for IO, with some saying it is one of the most promising and well-resourced projects.
IO advertises as a cost-effective and reliable decentralized GPU computing platform. It offers a decentralized computing network, providing affordable access to high-end GPUs for mid-sized companies and startups.
.@ionet: Cost-Effective and Reliable Decentralized GPU Computing Platform
🔹 $IO offers a decentralized computing network, providing affordable access to high-end GPUs for mid-sized companies and startups.
🔸Listing occurs on the 11/06, 12:00 PM UTC on @binance, @kucoincom etc. pic.twitter.com/46JUsDmfHM— House of Chimera (@HouseofChimera) June 10, 2024
Smart money on-chain tool Lookonchain observes that a trader spent 3,120 SOL, worth around $484,000 at current rates to buy 85,326 IO tokens. The average purchase price was $5.67 and came ahead of the pump.
The price of $IO has surged by nearly 70% today!
A trader spent 3,120 $SOL($484K) to buy 85,326 $IO at $5.67 during the rise.https://t.co/4H1nokrXmI pic.twitter.com/54ZYvb9qUf
— Lookonchain (@lookonchain) June 13, 2024
Traders disregarded FUD spread by one Martin Shkreli that said the project was fraudulent.
i think @_d3f4ault is going to jail, is that enough respect? @shadid_io is probably going too.
tory, i’d be careful! https://t.co/YGXl7ow3mj
— Martin Shkreli (e/acc) (@MartinShkreli) June 12, 2024
io.net Price Prediction
The io.net price is trading with a bullish bias, consolidating within an ascending parallel channel. This is a highly bullish technical formation, committing the altcoin to more gains. This is as long as it remains within its confines.
Based on the outlook of the technical indicators, the IO bulls might just be able to sustain the uptrend. However, it is contingent on profit booking not setting in immediately. For starters, the Relative Strength Index (RSI) is holding comfortably above the mean level of 50. The Moving Average Convergence Divergence (MACD) is also in positive territory. These suggest that bullish sentiment abounds in the IO market.
If buyer momentum increases and the io.net price moves above the centerline of the channel, it would encourage more buy orders. This would set the pace for an extended move north. With this, the io.net price could reclaim the peak of the market range at $6.3323. In a highly bullish case, the gains could extrapolate to the next target objective of the Fibonacci indicator at $7.0746. Effectively, this would mean clearing the June 13 high of $6.7926.
GeckoTerminal: IO/USD 1-hour chart
Converse Case
On the other hand, considering the position of the MACD below the orange band of the signal line, reinforced by the position of the MACD histograms, the bears could recover the market. This could see the $5.7483 support level break.
Enhanced seller momentum could see the io.net price fall out of the ascending parallel channel. For the bullish thesis to be invalidated, however, the IO price must record a candlestick close below the 50% Fibonacci placeholder of $4.9678 in the one-hour timeframe.
Elsewhere, one of the latest entrants in the meme coin space, WienerAI, is grabbing much interest as this dog-themed AI meme coin charges towards $6 million in funds raised in its presale.
In a recent video, Cilinix Crypto, with 63.5K subscribers, explains why he bought WAI tokens.
Promising Alternative To io.net
WAI is the ticker for the WienerAI project, which has just blasted past $5.6 million in funds raised after adding $2 million in sales in less than two weeks.
Witness the royal presence of WienerAI 👑🌭
The launch is near!!https://t.co/g0LrikQz90 pic.twitter.com/f9AreL5Xod
— WienerAI (@WienerDogAI) June 8, 2024
WienerAI operates as an ERC-20 token on the Ethereum blockchain, offering users seamless compatibility with a wide range of decentralized applications and exchanges.
Don’t keep your dog on a leash.
LET IT FLY 🚀 pic.twitter.com/ofLP1CxPxT
— WienerAI (@WienerDogAI) April 28, 2024
To improve its utility, the WienerAI project is integrating trading bot capabilities on its platform. This function will deliver user-friendly, AI-enhanced trading, seamless swap functionality, and zero fees.
More than just a bot–WienerAI is your ultimate crypto trading companion.
We’re delighted to share some sneak peeks with our incredible and supportive community. (1/4) pic.twitter.com/kR8ypeJycj
— WienerAI (@WienerDogAI) June 11, 2024
WAI token holders can also stake their holdings for lucrative rewards, with Annual Percentage Yields (APY) as high as 200%. Over 5.1 billion WAI tokens have already been staked.
The token is currently selling for $0.000718, but this will only last for just over two more days before a price hike.
Buy WAI tokens on the official website here.
Also Read:
PlayDoge (PLAY) – Newest ICO On BNB Chain
- 2D Virtual Doge Pet
- Play To Earn Meme Coin Fusion
- Staking & In-Game Token Rewards
- SolidProof Audited – playdoge.io
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