Today, the SingularityNET token, AGIX, experienced a substantial boost of over 15%, thanks to a humorous tweet from Twitter CEO and Tesla creator Elon Musk. The tweet contained a motivational poster that referenced the SingularityNET project, causing AGIX to outperform its main competitors in the last 24 hours.
Elon Musk’s Interest with Artificial Intelligence and Digital Currency
In the past, Elon Musk has demonstrated his fondness for cryptocurrency-related jokes, particularly those involving Shiba Inu dogs and Dogecoin. His ongoing enthusiasm for AI has now led to his involvement with SingularityNET, making it a major topic of conversation in the crypto sphere in 2023.
SingularityNET’s Success Story
AGIX has experienced a dramatic increase in success, with its value rising by 1,100% since the start of the year. The company is now worth $650.3 million and its hashtag has been trending on Twitter.
The SingularityNET project, a major blockchain endeavor attempting to make an impact in the arena of artificial intelligence, has a marketplace of AI applications that investors think will be influential. The dApps in their ecosystem are increasing, with Rejuve.ai, Cogito, Awakening Health and Nunet being some of the leading ones.
AGIX’s Performance
AGIX has seen tremendous success this year, with its worth increasing by over 1,088%. This surge was part of an overall resurgence in AI crypto tokens, pushing AGIX to a peak of $0.5556 since February 8.
The surge in AGIX’s value is largely attributed to the crypto revival that has taken place. Bitcoin recently achieved a new high of $26,000, and the collective market cap of all digital currencies has passed the trillion-dollar mark. Moreover, various AI-related assets have experienced significant gains as well; Fetch.ai (FET) surged by more than 20% within a day, and CryptoGPT had an impressive price rally too.
Technical Analysis
SingularityNET’s price has been steadily increasing over the recent days, climbing for four consecutive days. It surpassed the mark of $0.5564, which was its peak on March 1, and it is now above both the 50-day and 100-day moving averages. The Stochastic Oscillator and RSI are both still trending upwards, suggesting that traders are aiming to reach the yearly high of $0.6653.
