- ANKR price recorded an intra-day high of $0.0569 on Thursday amid AI conference-related news.
- Ankr CEO and CTO will attend the NVIDIA GTC 2024 conference in Silicon Valley in March.
- With the Conference still ten days out, AI wave is not yet done, unlike meme coin mania.
AI crypto coin enthusiasts still have their eyes peeled to the March 18-21 event in Silicon Valley, where Nvidia will hold the largest conference in its history, christened NVIDIA GTC24 Conference.
Ankr executives to attend NVIDIA 2024 GTC Conference
Web3 data analysis tool has reported that Ankr CEO and CTO Chandler Song and Stanley Wu will be among the crypto executives to attend the Nvidia conference in Silicon Valley. Based on the report, the ANKR price exploded 40% following this news.
The #AI token $ANKR soared ~40% as #Ankr CEO @chandlersyf and CTO @stanleywu84 will attend the #NVIDIA #GTC24 conference! pic.twitter.com/4mXy5KVqf1
— Lookonchain (@lookonchain) March 7, 2024
At the time of writing, ANKR price is trading for $0.0501 amid ongoing profit-taking as traders cash in on the 40% explosion. Nevertheless, the upside potential remains viable, seeing as the Relative Strength Index (RSI) is climbing, a sign of rising momentum.
The volume indicator is also showing a pronounced green candlestick, suggesting the intermediate trend is still gaining strength.
With the AI conference still nearly two weeks out, ANKR price could recover some of the ground lost, potentially clearing the $0.0588 peak to tag the $0.0600 psychological level.
ANKR/USDT 1-day chart
On the other hand, enhanced profit booking could see ANKR price extend the fall, potentially going as low as to test the $0.0300 psychological level.
Notwithstanding, the AI narrative appears to be still on, with sector tokens such as Render (RNDR) and Fetch.ai (FET) still clinging to their previous gains. The same cannot be said for the meme coin cohort, as Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE) and Bonk Inu (BONK) still on a load-shedding exercise.
ANKR/USDT 1-day chart, RNDR/USDT 1-day chart, FET/USDT 1-day chart, DOGE/USDT 1-day chart, SHIB/USDT 1-day chart, PEPE/USDT 1-day chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
VanEck launches MarketVector “MEMECOIN” index to track BONK, FLOKI, DOGE, PEPE, WIF and SHIB tokens
While Bitcoin ETFs track BTC price, $90 billion asset manager VanEck has launched a separate index, christened MEMECOIN, to track the performance of the sector’s best and worst performers.
Ethereum could experience bullish run, ETH ‘ultrasound’ money narrative at risk
Ethereum price action on Wednesday shows it could be gathering momentum for a rally as a recent report from CryptoQuant reveals its ultrasound money narrative is at risk.
President Biden threatens crypto with possible veto of Bitcoin custody among trusted custodians
Joe Biden could veto legislation that would allow regulated financial institutions to custody Bitcoin and crypto. Biden administration’s stance would disrupt US SEC’s work to protect crypto market investors and efforts to safeguard broader financial system.
AI tokens could rally following growth in NVIDIA's stock
While some predicted the Bitcoin halving would be the breaking point for a new bull cycle, a recent rally in AI tokens could see them lead the altcoin season. The continuous integration of AI-backed tokens has increased awareness of the possibilities that await the general blockchain ecosystem with them on board.
Bitcoin: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.