AIOZ Network price has silently become one of the best-performing cryptocurrencies this month. The token surged to a high of $0.2930 on Thursday morning, meaning that it has surged by over 2,100% from its lowest point in October last year. This rally has helped to bring the AIOZ Network’s total market cap to over $280 million.
Similarly, SingularityNET has embarked on a major bull run that saw it soar to a high of $0.7240. The token has surged by more than 340% from its lowest point in August last year in a move that has pushed its market cap to more than $887 million.
Generative AI demand is booming
The main reason why SingularityNET and AIOZ Network token are surging is that there is a strong demand for generative AI. This industry has been booming since 2023 when OpenAI introduced ChatGPT to the masses.
Today, ChatGPT has become one of the most successful technologies in the world. And OpenAI has received funding at a valuation of over $80 billion. Other AI companies like Anthropic and Google Gemini are believed to be worth billions of dollars.
The current phase of the two tokens surge happened after Nvidia published its financial results. These results revealed that there is a strong demand for AI around the world. As a result, its total revenue surged to more than $22 billion in the last quarter.
The management believes that the industry is still in its early days and that the demand will continue accelerating in the coming years. These results came a few weeks after Arm Holdings published strong numbers, in a move that has helped push its total market cap to over $126 billion.
Super Micro Computer (SMCI) also released good numbers, which helped it become a $50 billion giant and one of the most popular companies in Wall Street. Therefore, AGIX and AIOZ are soaring because they are associated with this AI industry.
SingularityNET price forecast
Turning to the 1D chart, we see that the AGIX price has gone vertical in the past few days. Precisely, the token has jumped in the past eight straight days and is now sitting at its all-time high. The token has already surged above the key resistance point at $0.6714, its highest point in February. It has remained above the Supertrend indicator.
Meanwhile, there are signs that AGIX has gotten overbought as the RSI and the Stochastic Oscillator have moved above 90. Therefore, I expect that the bullish momentum will continue this week as investors cheer the Nvidia earnings. But a breather will likely happen in the near term. This pullback could see it drop to $0.50.
AIOZ Network price prediction
I wrote about the AIOZ token in November last year as its bullish trend was forming, At the time, I predicted that the coin would have a short-term pullback, which happened. Now, the coin has soared as investors cheer its AI credentials and the fact that it has a relationship with Nvidia.
AIOZ Network has jumped above the key resistance point at $0.2100, its highest swing in December. Like AGIX, it remains above the Supertrend indicator while the Stochastic Oscillator has moved above the overbought point.
Therefore, I suspect that the token will continue soaring on Thursday as investors cheer Nvidia’s results. If this happens, the token price will likely rise to the key resistance point at $0.30. The alternative scenario is where the AIOZ price retreats and retests the key support at $0.210 and then resumes the upbeat tone.
