The price of Fetch.ai (FET) updated its historical all time high, but then entered a correction, meanwhile, crypto enthusiasts and whales are turning their focus towards another AI new contender InQubeta (Qube), which recently surpassed $11.6 million in its presale stage.
Fetch.ai (FET) whales move into sales
The price of Fetch.ai (FET) reached a new all-time high, but pulled back from it. Let’s figure out whether this will be an impetus for the coin to fall. As Fetch.ai (FET) surged to an all-time high, some investors sold off their holdings to lock in profits. Let’s figure out whether the price will be able to maintain its upward momentum.
Investors in FET, especially whales , decided to dump their assets as their prices rose sharply. Addresses that held from 100 thousand to 1 million tokens sold more than 9 million FET worth $24.3 million.
Price Forcast for Fetch.ai (FET)
When the altcoin reached an all-time high of $3.07, sales intensified, resulting in the amount of funds stored in large wallets falling to 60.8 million coins. Naturally, this provoked a drop in price, as it upset the balance of supply and demand.
Since the beginning of March, about 11 million FET worth $29.7 million have been withdrawn from exchange wallets. Thus, optimism still prevails, but as profit taking intensifies, it will most likely fade.
Given the intense whale selling and price movement, a further decline towards the $2.46 support line could be a likely outcome. The relative strength index (RSI) is already below the neutral line of 50.0 in the bearish zone. This suggests that bullish sentiment is weakening, and a long stay of the indicator in this zone will be negative for the price.
In this case, FET could break the $2.46 support line, which coincides with the 100-day exponential moving average (EMA), and fall to $2.00.
Whales tend towards AI projects and accumulate more InQubeta (QUBE)
Amid the soaring interest in AI cryptocurrencies, InQubeta (QUBE) has surged past the $11 million mark in its ongoing presale this week. Presently in stage 8 out of 10, with 0.0245 USDT equivalent to 1 QUBE and the subsequent stage priced at 0.028, InQubeta has already traded around 816 million tokens, aiming to exceed the 1 billion QUBE token milestone in its presale.
Inqubeta recently initiated an exhilarating new venture on Intract inviting users to delve into the forefront of AI innovation.
🚀 Exciting news from InQubeta! 🚀
We’ve just launched a thrilling new quest on Intract @IntractCampaign, inviting you to explore the cutting-edge world of #AI innovation. Join us as we embark on this journey to shape the future of #technology together!https://t.co/ra2Fwd8TOo
— Inqubeta (@Inqubetahq) March 13, 2024
InQubeta stands as an AI cryptocurrency endeavor. One of its features is its emphasis on assisting AI startups in raising funds through its platform, enticing investors with its deflationary mechanics crafted to enhance the coin’s value over time. This user-friendly project strives to enhance the accessibility and availability of funding for AI startups through crypto-based crowdfunding.
About InQubeta
QUBE is a deflationary ERC20 token, incorporating a 2% tax on buying and selling transactions, with the proceeds directed to a burn wallet, consequently diminishing its supply over time. Furthermore, a 5% tax is allocated to a reward pool, offering potential incentives for investors who stake their QUBE tokens.
InQubeta’s investment models enable investors to engage in the initial funding stages of AI startups, secure fractionalized ownership of non-fungible tokens (NFTs) associated with these startups, and benefit from the prospective value appreciation of the platform. Regardless of their financial capabilities, investors can leverage QUBE to have a stake in the AI startups they trust by acquiring the corresponding NFTs. However, as the AI narrative continues to gain more and more momentum within the cryptocurrency realm, InQubeta’s ambitious objectives and offerings may potentially position it as a leading crypto in the market.
