Bittensor Price Forecast: TAO eyes $300 amid launch on Raydium, parody meme coin, ChatGPT-6 Astra release
- Bittensor is up nearly 3% on Monday, extending its 12% gains from the previous day.
- TAO social interest recovers amid Bittensor-inspired meme coin on Solana and ChatGPT-6 Astra release.
- Bittensor must surpass the $300 threshold to sustain a recovery as bullish momentum strengthens.
Bittensor (TAO) is trading in the green on Monday, continuing a steady upward trend over the last five days, with a 25% gain. Social chatter surrounding Bittensor is increasing amid a similarly named meme coin launched on Solana and the release of ChatGPT-6 Astra. The technical outlook for TAO is bullish as momentum strengthens and buyers target the $300 breakout.
Solana’s meme coin and ChatGPT-6 Astra boost Bittensor’s social volume
Bittensor is gaining retail strength and social volume following its 16% rally last week. A Bittensor-parody meme coin named Buttensor (BUTT) launched on Raydium, a Solana-based Decentralized Exchange (DEX), on Monday, paired against TAO. The parody meme coin follows the official launch of the TAO token on Raydium the previous day.
Meme coin's setup directs transaction fees to automatically buy TAO tokens and distribute them to BUTT meme coin holders. This constant buying pressure is driven by retail demand, and speculation funnels capital inflow into the Bittensor ecosystem through direct purchases and indirectly through the meme coin.
In addition, the release of ChatGPT-6 Astra renews demand for AI tokens in the cryptocurrency market. Santiment data shows the Social Dominance of TAO rose to 0.05% on Thursday upon Astra’s release and has since increased to 0.12%, driven by the emergence of the Buttensor meme coin.
On the derivatives side, CoinGlass data shows that TAO Open Interest (OI) stands at a three-month high of $428.57 million, suggesting a steady build in positions.
Technical outlook: Could TAO extend gains above $300?
Bittensor edges higher on Monday after a 12% rise the previous day, extending a strong bullish bias as the price trades at a two-month high. The AI-token trades well above the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), which are clustered between roughly $221 and $236.
The Relative Strength Index (RSI) at 70 on the daily chart shows overbought conditions, signaling vulnerability to a cooling phase, while the Moving Average Convergence Divergence (MACD) remains positive above its signal line, suggesting upside momentum is intact.
The immediate resistance for TAO aligns with the $300 psychological threshold, where a confirmed breakout could open the path toward the September 13, 2025 high at $369.
On the downside, initial support appears at the 200-day EMA near $236, with additional demand seen around the 100-day EMA at $222 and the 50-day EMA at $220, if a deeper pullback unfolds.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Author
Vishal Dixit
FXStreet
Vishal Dixit holds a B.Sc. in Chemistry from Wilson College but found his true calling in the world of crypto.
