• Elon Musk’s tweet about the SingularityNET project caused a surge of more than 15% in AGIX token price.
• AGIX has increased by 1,100% since the start of 2021, and its market capitalization is now over $650 million.
• Most AI-associated assets have also seen a recent increase in price, with Fetch.ai (FET) up 20% and CryptoGPT soaring.
The Elon Musk Effect
Twitter CEO and Tesla founder Elon Musk recently sent out a humorous motivational poster referencing the SingularityNET project name, causing the AGIX token to soar by more than 15%. This marks yet another example of Musk’s interest in cryptocurrency memes and artificial intelligence projects.
SingularityNET Success Story
The SingularityNET project, one of the top blockchain projects aiming to become a major player in the AI industry, has seen an incredible success story this year with its AGIX token increasing by over 1,088%. Its capitalization has now hit $650 million, making it one of the top-performing cryptocurrencies this year.
AGIX Performance
The rally in AGIX price is mainly due to the ongoing crypto resurgence. Bitcoin price has jumped above $26,000 for the first time in months, and most AI-associated assets have also seen an increase in their prices with Fetch.ai (FET) up 20% and CryptoGPT soaring. The number of dApps in the SingularityNET ecosystem is growing at a rapid pace as well with Rejuve.ai, Cogito, Awakening Health and Nunet among them.
Technical Analysis
On the daily chart for SingularityNET price we can see that it has been rising steadily for four days straight moving slightly above key resistance point at $0.5564 which was set on March 1st 2021 while also moving past both 50 day and 100 day simple moving averages giving us further confirmation that we are currently witnessing an uptrend here..
Conclusion
In conclusion it looks like Elon Musk’s influence on cryptocurrency markets cannot be understated as his latest tweet about SingularityNET caused its associated token AGIX to surge significantly outperforming many other major sector rivals as well as other AI related tokens such as Fetch.ai (FET) and CryptoGPT along with continuing to push forward towards its all time high from February 8th 2021