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The xAI price surged more than 8% over the past 24 hours to trade at $0.0000008087 as of 7:40 a.m. EST as investors rush to buy the crypto.
The XAI price jump follows a $60 million commitment from Cathie Wood’s ARK Invest to Elon Musk’s xAI startup. ARK revealed that it holds a stake in the business through a May 28 email sent to its clients.
This allocation towards Musk’s company represents around 2% of the Ark Venture Fund’s holdings, according to a Bloomberg report.
The XAI Price Forms A Bullish Channel
4-hour chart for XAI/USD (Source: GeckoTerminal)
A positive channel has formed on XAI’s 4-hour chart after the xAI price printed a series of higher highs and higher lows over the past 24 hours. In the last 8 hours, the altcoin managed to overcome the $0.0000007727 resistance. Traders are now attempting to push the xAI price above the next key barrier at $0.0000008184.
If the altcoin closes a 4-hour candle above this threshold within the next 12 hours, XAI could have the technical foundation needed to keep rising in the short term. Conversely, the XAI price not closing a 4-hour candle above $0.0000008184 within the coming 12 hours might invalidate this bullish thesis.
In this alternative scenario, the xAI price could retest the aforementioned $0.0000007727 mark. Losing this support level might then expose XAI to the risk of dropping to $0.0000007306. In an extremely bearish scenario, the crypto could even plunge to as low as $0.0000006867.
The XAI Price Could Keep Rising Due To Strong Technical Support
Technical indicators on XAI’s 4-hour chart suggest the crypto might keep climbing in the next 24 hours. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are flagging bullish.
XAI currently finds itself in a short-term bullish cycle, which is evident by the MACD line’s position above the MACD Signal line. The margin between the two lines is also growing. Traders usually see this as a sign that a crypto’s positive momentum shows no signs of slowing down just yet.
Meanwhile, buyers are dominating XAI’s 4-hour chart as well. This is signaled by the RSI’s current value of 76. However, investors and traders will want to keep an eye on this technical indicator.
Although an RSI value above 50 signals buyer strength, XAI’s RSI warns that the crypto is currently overbought. Traders could start to identify this high value as a short signal, given it suggests XAI’s downside potential might be greater than its upside potential.
The investor frenzy surrounding XAI could carry over to other AI cryptos like AI-powered meme coin WienerAI (WAI).
A Powerful AI Trading Companion
WienerAI is unlike any other canine-themed meme coin that came before it because it is backed by powerful AI technology. With sophisticated computer models that are fine-tuned to trade the crypto market, WienerAI is looking to serve as a loyal companion for traders.
Up until now, a major barrier to entry for anyone looking to take advantage of AI is how difficult it is to interact with the powerful computer models. Through WienerAI’s simple interface, users can gain access to an enhanced trading experience that gives them the ability to make more informed investment and trading decisions.
🌭Wiener AI is on the move!🌭
Big day for our development team. The AI Trading Bot interface is getting closer to completion. pic.twitter.com/AntAqQVnsr
— WienerAI (@WienerDogAI) May 28, 2024
In addition to the predictive AI technology, WienerAI token holders can also use the native swap solution called Seamless Sausage Swaps. This enables token holders to never miss a “golden opportunity.”
WienerAI holders will never be frontrun by MEV bots again as well because of the MEV protection offered in the WienerAI ecosystem. All of these features come with zero fees.
Approaching $4 Million
Investors are betting big on WienerAI, having poured over $3.4 million into the meme coin’s ICO thus far.
Analysts are also bullish on the dog-themed token. Crypto YouTuber ClayBro believes that WienerAI could pump during its launch. While investors wait for this potential surge, they can lock up their tokens for the 307% annual return currently being offered to anyone who stakes WAI.
To get in on this opportunity, investors can navigate to the simple buy widget embedded on the project’s official website.
Selling for $0.000712, WAI can be bought using either ETH, BNB, USDT or a bank card. A price increase is due in less than three days though so act quickly if you are interested to invest.
Purchase and stake WAI here for up to 307% in annual rewards.
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