AI Companions (AIC), a new cryptocurrency, rose by over 10% on Wednesday as interest among traders rose.
AIC to be listed on key CEX exchanges
AI Companions token rose to a high of $0.1025, up by 35% from its lowest level this week after it hinted that it will be listed by Gate.io on October 18. Gate is one of the most popular centralized crypto exchanges in the industry. According to CoinMarketCap, it handled volume worth $1.4 billion in the last 24 hours.
The developers also hinted that another tier-1 exchange will list it in the coming weeks. While the identity of the new exchange is not yet public, some of the other potential listings are Binance, OKX, and HTX.
Cryptocurrencies often soar after they are listed by big exchanges. For example, Baby Doge Coin has soared by over 50% after it was listed by Binance on September 16.
AI Companions also jumped after interest in its token jumped. AIC was one of the most trending tokens on X, formerly known as Twitter.
It was also one of the most searched cryptocurrencies on CoinGecko and CoinMarketCap, the two most popular crypto websites in the industry. Data by SimilarWeb shows that CMC had almost 74 million visitors in September, while CoinGecko had 22.8 million.
Data by Google Trends shows that the worldwide search of the keyword AI Companions has risen in the past few weeks.
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AI Companions is a platform that aims to take advantage of the ongoing demand for artificial intelligence-based companions. As the NYT wrote recently, demand for these platforms has grown substantially as the loneliness pandemic continues. In another report, the paper cited a man who spends $10k a month on these companions.
AI Companions price analysis
The AI Companions token price rose on Wednesday even as other popular tokens like Bitcoin and Ethereum pulled back. On the 4H chart, the token formed a double-bottom chart pattern at $0.081.
It has moved above the 50-period moving average while the bars of the MACD indicator have moved above the neutral level. Therefore, the token may have some more gains as its popularity grows. If this happens, it will rise and retest the key resistance point at $0.1505, which is about 54% above the current level.
The risk is that it has also formed a head and shoulders pattern, a popular bearish sign. A drop below the support at $0.081 will confirm the bearish view and lead to more downside.
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