Fetch.ai Price Prediction: FET Falls 7% As Traders Prepare For This BONK Challenger’s First Exchange Listing And $1 Million Airdrop

The Fetch.ai price plummeted over 7% in the last 24 hours to trade at $2.74 as of 2:20 a.m. EST as investors dump their holdings in the AI crypto.

This drop in FET’s price follows the recent bullish news that Fetch.ai, SingularityNET and Ocean Protocol will join forces to create an Artificial Superintelligence Alliance. Voting for this alliance’s proposed governance is set to begin today. 

Voting opens tomorrow for the Artificial Superintelligence Alliance governance proposal 🗳️

The merge of https://t.co/kJ9URVpOul, @SingularityNET, and @oceanprotocol will be a historical event in #AI. Check out our blog on how you can prepare to vote 👇https://t.co/LvMsD2We8I pic.twitter.com/V5xKVJujDi

— Fetch.ai (@Fetch_ai) April 1, 2024

The Fetch.ai Price Loses A Key Support

4-hour chart for FET/USDT (Source: TradingView)

The Fetch.ai price fell below the $2.8593 support level in the last 8 hours and continues to trade below this key price point. A negative short-term price channel has also formed on the altcoin’s charts after FET printed a series of lower lows and lower highs throughout the past couple of days.

If sellers continue to exert pressure on the Fetch.ai price, then it may be at risk of testing the $2.3715 support level in the next 48 hours. A break below this significant mark could then expose the crypto to the risk of falling to as low as $2.1530.

This bearish thesis might be invalidated if the Fetch.ai price manages to close a 4-hour candle above the recently-breached $2.8593 level within the next 24 hours. Not only will this place the altcoin above the descending price channel, it could also give it a solid foundation to rise from. 

Traders may then identify FET reclaiming this support as a buy signal, which will subsequently push the Fetch.ai price higher. In this bullish scenario, the altcoin might attempt a challenge at the $3.2695 barrier. Overcoming this mark could then clear a path for FET to climb higher in the following few days.

Bulls Might Have A Tough Time Boosting The Fetch.ai Price

Technical indicators on FET’s chart suggest bulls will have a lot of ground to cover before they can boost the crypto’s value. Sellers continue to hold the upper hand against buyers, as signaled by the Relative Strength Index (RSI) which is positioned below its Simple Moving Average (SMA) line. The bearish momentum that pulled the Fetch.ai price down in the last few days is also growing stronger. With the Moving Average Convergence Divergence (MACD) line breaking away below the MACD Signal line on the 4-hour chart, it seems sellers show no signs of slowing down.

While the Fetch.ai price remains at the mercy of bears, traders are turning their attention to Smog and its upcoming exchange listing and $1 million airdrop.

This Could Be The Next Solana Meme Coin To Explode

Smog (SMOG) joins a handful of other meme coins that entered the burgeoning Solana ecosystem recently. However, what sets Smog apart from the other new entrants is its massive airdrop, which SMOG’s creators refer to as the “greatest airdrop of all time.”

One #Memecoin to rule them all! 🚀

Get ready for the greatest #Airdrop in history, distributed on #Solana. 💰

Join #SMOG on Zealy! 🔥

Link in Bio 🔗 pic.twitter.com/vsn4p5cSF4

— SMOG (@SMOGToken) February 8, 2024

The project’s team also recently teased the crypto’s first exchange listing. This is a massive event because it will open up SMOG to a wider pool of investors and make it easier to purchase the SOL meme coin. Both of these factors could potentially cause SMOG’s price to skyrocket in the next few weeks.

Other popular Solana tokens such as Book of Meme (BOME) and Dogwifhat (WIF) managed to score a coveted Binance listing. Traders flocked to the crypto shortly after their listing announcements were made, which led to their prices surging.

Although no specific details have been released as to which exchange will be welcoming SMOG to its platform “very soon,” any listing, especially a crypto’s first, often leads to a major price boost.

With the hype around Solana meme coins, anticipation of SMOG getting listed on Binance begins to grow. It may only be a matter of time before the dragon-themed crypto soars to unprecedented heights.

Last Chance For Investors To Get In On The $1 Million Airdrop

Season one of SMOG’s massive airdrop campaign will come to an end on Apr. 3. There is still time for investors to build their XP in order to claim from the $1 million airdrop.

Anyone that wants to become eligible will need to complete a variety of Zealy quests set up by the team. On the day, each person’s XP will then be used to determine the portion of the airdrop they  will receive.

Season two of the airdrop campaign has already kicked off. Unlike the first season which focused on the number of Zealy quests completed, season two will place emphasis on on-chain and trading activity.

For investors that want to position themselves better leading up to the exchange listing, SMOG can be purchased on the project’s official website as well.

Selling at a 10% discount, the crypto can be bought using either USDT, ETH or bank card. There is also a 42% APY being offered to anyone who buys SMOG at this early stage.

SMOG can be purchased here.

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