Fetch.ai Price Prediction: FET Falls 7% In A Week As This 2.0 Meme Coin Soars 31% In A Month

The Fetch.ai price has dropped 7% over the last week to trade for $2.6788 as of 06:52 a.m. EST time.

Over the last 24 hours, the FET price is up almost 2% as part of a recovery rally, but trading volume is still down a stark 16%.

The Fetch.ai network is underway with a community vote that started on April 2 and will end on April 7 to decide whether FET should be integrated into the Artificial Superintelligence (ASI) token.

Vote with your $FET! The 1st governance proposal for the @ASI_Alliance merger is live on the Fetch Network! 🚀

This proposal covers the transition of the network as the home of $ASI, and $FET as a 1:1 conversion.

Find the proposal details below 👇https://t.co/wehcGhVuXJ pic.twitter.com/qaq99PfMn9

— Fetch.ai (@Fetch_ai) April 2, 2024

Basic Details Of The Governance Proposal As The Fetch.ai Price Works Out Its Next Directional Bias

There are several key elements of the governance proposal. To begin with, if approved, it will lead to the renaming of the network and FET token to ASI.

Secondly, there will be a hard fork of the FET token contracts on the ETH and BSC networks.

Third, the network will provide a notice for the change in the total supply of tokens to allow other projects to join the Artificial Superintelligence Alliance.

It is worth it to note that the third element has sprouted some controversy, with community engagement on the FET announcement indicating that FET holders are concerned about the total supply. Most are calling for a supply as high as 1.5 billion tokens.

You have my positive vote for the merger when there is a maximum supply of 1.5 billion tokens.

Otherwise, I will unfortunately be forced to vote against it with many others, and the merger will not go ahead.

— Anthonie(Volgen=Terugvolgen) (@Mellow01673379) April 2, 2024

Notably, the governance proposal is only available to FET token stakers. Moreover, other parties to the merger, SingularityNET (AGIX) and Ocean Protocol (OCEAN) community members will vote on their side regarding the proposed alliance. Separate governance proposals and corresponding tokenomics updates will be submitted for each project.

For FET stakers, the network indicates that the validator one uses to stake does not matter. What has bearing is the amount of FET one stakes as this will determine how effective the staker’s vote will be. Those who stake on an exchange are required to check the exchange for their ability to take the vote.

Fetch.ai Price Prediction Amid Ongoing Community Governance Vote

The Fetch.ai price has broken below support due to the 78.6% Fibonacci retracement level of $2.8432. This, coupled with the fact that the Parabolic Stop and Reverse (SAR) indicator is trailing the FET price from above suggests overhead pressure is mounting.

However, as the Fetch.ai price is well above the most important Fibonacci retracement level of 61.8% at $2.3406, the upside potential remains alive. This is reinforced by the position of the Relative Strength Index (RSI) above the ‘50’ mean level, suggesting bullish sentiment continues to abound. The same is accentuated by the position of the Awesome Oscillator (AO) in positive territory.

If the bulls increase their buying momentum, the Fetch.ai price could push north to reclaim support-resistance at $2.8432. In a highly bullish case, the gains could see the Fetch.ai price extend a neck higher to tag the $3.4835 peak of the market range. Such a move would denote a climb of around 30% above current levels.

TradingView: FET/USDT 1-day chart

Converse Case

On the other hand, if the bears have their way, the Fetch.ai price could extend the fall to test the $61.8% Fibonacci retracement level of $2.3406. If this support breaks, the AI crypto coin could roll over to the 50% Fibonacci placeholder of $1.9876. A break and close below this level would invalidate the big picture bullish thesis.

Sellers should watch for the FET RSI breaking below the 50 mean level as well as the AO slipping into negative territory. Decisive moves for both momentum indicates would be ideal exit points for FET holders as it would mark the beginning of the downtrend.

Meanwhile, Sponge V2 has surged 31% in a month, with analysts predicting it could 10X when it launches on additional top-tier exchanges soon.

With the BTC halving due to happen in just over two weeks, meme coin mania is likely to break out again, with Sponge V2 nicely positioned to thrive as a part of the FOMO.

When the FOMO kicks in 💦 $SPONGE #Crypto #Binance #Alts pic.twitter.com/LmLQxOiUw4

— $SPONGE (@spongeoneth) April 2, 2024

Promising Alternative To Fetch.ai

With the cryptocurrency market counting the days to the halving, investors are also looking at other promising alternatives for their portfolio diversification.

Wondering what the #BitcoinHalving in 2024 means for the #crypto world? Dive into the #Halving numbers below.#Bitcoin #BTC #BullRun pic.twitter.com/Eu6ZRVgpQ5

— CIFDAQ (@cifdaq) April 3, 2024

Sponge V2 is the successor to Sponge V1, which was discontinued on Feb. 5. It offers investors who missed out on the SPONGE V1 train a chance for a do-over.

Marking the relaunch of the project, the second version merges the fun and engagement of its dedicated meme coin community with a unique staking model and new play-to-earn (P2E) game to take the Sponge brand to the next level.

People who missed out on #SpongeV2 be like:$SPONGE #MemeCoin #100xGem pic.twitter.com/ZdDoQKEpWX

— $SPONGE (@spongeoneth) April 1, 2024

Featuring among the meme coins that analysts say could record exponential gains at launch, Sponge V2 now has a Polygon version and an Ethereum version. The migration to Polygon was inspired by a recent malicious attack on its liquidity pool.

The token is already on Poloniex exchange and will soon list on multiple other exchanges. However, before this happens, the staking function continues to give investors multiple opportunities for earning income passively. Buy and stake Sponge V2 to start earning rewards today.

Girls will come and go but $SPONGE will always stay! 🧽🧽

Stake your $SPONGE tokens now before February 5th! ⏰

Remember, holders on both DeFi and exchanges should stake their Sponge V1 through our website to be able to claim SPONGE V2.#SpongeV2 #Crypto #AltSeason #BTC #100x pic.twitter.com/VWqy88wDBA

— $SPONGE (@spongeoneth) February 4, 2024

Stake SPONGE V2 For High Yields

Spongers will gain tokens by staking $SPONGE before the claim date. Token holders are currently enjoying annual percentage yields (APY) as high as 168% on Ethereum and 371% on Polygon. So far, upwards of 9.6 billion tokens have been staked. This is among the reasons why analysts rank it among the top five cryptos to invest in now.

Crypto YouTuber Jacob Bury ranks Sponge V2 among the best meme coins to buy now.

With the Solana hype fading, and Ethereum being the leading altcoin, the recent bullish turn in the market could potentially inspire confidence in meme coins on its network.

Visit and buy Sponge V2 here.

Also Read:

• Meme Coin Sponge V2 Explodes with 390% APY Staking on Polygon – Matthew Perry Review
• Can Sponge V2 Repeat a 100x Surge In Its Upcoming Launch? Oscar Ramos Video Review
• Low Cap Meme Coin Sponge V2 Hits $29 Million in Staked and Bridged, Offering High Staking Reward

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