AGIX - The Cryptocurrency That Reached Its All Time High in 2023
SingularityNET (AGIX), rallied more than 1,000% this year. However, the token has now started to fall. Will the support level hold and cause a bounce?
What is SingularityNET?
SingularityNET is a blockchain-based platform that allows easy creation, sharing, and monetization of AI services through its global marketplace.
The platform utilizes its native token, AGIX, for transactions. Developers can publish and sell their AI tools through the marketplace and track their performance.
SingularityNET aims to develop an AI known as Sophia and an AI framework called OpenCog, which it hopes will achieve human-level artificial intelligence. The platform completed an ICO in 2017, raising $36 million in a minute.
AGIX’s Super Trend in 2023
AGIX is one of the few cryptocurrencies that has managed to reach its all-time high in 2023.
In just 38 days, from January 1st until February 8th, the token experienced an astounding 1,300% growth. This remarkable growth rate highlights AGIX's potential and has put the cryptocurrency on the radar of many traders.
After reaching its all-time high, AGIX has been consolidating for the past three months. As of now, the token is close to its support level of $0.30. In case this level fails, the $0.16 support level is there to catch the price.
This consolidation phase has raised questions regarding AGIX's future potential. However, it is important to note that consolidation is a natural phase that occurs after a significant price increase.
The $0.30 support level has proven to be sturdy in the past, and if the rest of the market continues ranging or even starts rising again, then this level will most likely hold.
AGIX's resilience during the consolidation phase has been impressive, and many traders believe that the token has the potential to continue its upward trajectory.
Bottom Line: SingularityNET (AGIX) has shown tremendous potential with its remarkable growth rate in just 38 days. Although it is currently in a consolidation phase, the sturdiness of its support levels has given traders hope for its future potential.
