The excitement surrounding September’s Fed rate cut has been dampened by recent inflation data. Earlier this week, the U.S. Bureau of Labor Statistics reported that inflation rose 2.4% over the past 12 months.
This development exceeded expectations and caused a market-wide decline, pushing down the prices of Dogecoin (DOGE) and Toncoin (TON). However, an altcoin maintained bullish traction: IntelMarkets (INTL). Viral AI cryptocurrencies are popular with investors and stand out thanks to the impending transformation of the crypto trading scene.
IntelMarkets (INTL): New AI token with potential for significant gains
Viral AI cryptocurrency IntelMarkets (INTL) continues to buck the bearish trend, surging past its $1 million funding milestone. Behind this increased interest and demand are solid fundamentals and explosive upside potential as an AI-powered trading platform.
As a new and emerging cryptocurrency, it has a lot more room to grow than top altcoins like Dogecoin (DOGE) and Toncoin (TON). What’s more, it’s budget-friendly and comes at a huge discount of $0.027 in the third stage of the ICO. Given its impending adoption, industry experts believe it is on track for a 100x jump after listing on a Tier-1 exchange, and new DeFi projects continue to gain traction. It becomes.
Meanwhile, analysts believe that the combination of AI, blockchain technology and DeFi will revolutionize the $347 billion cryptocurrency trading market. Its AI-powered trading platform provides users with unprecedented computing power and could be the next big thing. Other features include a trading bot, 1,000x leverage, copy trading, and a dual-chain architecture that supports and can run on the Ethereum and Solana blockchains.
Dogecoin (DOGE) regains support at $0.1 after falling
Industry leader Dogecoin (DOGE) is a well-known name in the meme ecosystem. As the first major cryptocurrency with a fun theme, it’s not only popular with investors. Institutional investors are also showing strong interest.
What the dog-themed cryptocurrency lacks in technology, it makes up for in a vibrant community, one of the largest in the crypto scene. Despite its humble beginnings, Dogecoin (DOGE) has become a great store of value that earns it a spot on the list of best cryptocurrencies to invest in.
However, following the latest inflation data, Dogecoin price fell. However, we were able to regain support at $0.1 and are inching closer to a complete reversal. Dogecoin price predictions predict that the weekly closing price will exceed $0.12, making it one of the altcoins to keep an eye on.
Toncoin (TON): Aiming for complete recovery
Toncoin (TON), a layer 1 token, is a top 10 cryptocurrency. It employs a proof-of-stake (PoS) consensus mechanism to aid scalability. The Telegram mini-app has grown in popularity and popularity, reaching a yearly high of $8.24 in June.
Although there has been a significant drop of more than 35% since then, the outlook remains promising. In the crypto market today, Toncoin price is down 3% from its high of $5.4 on the weekly chart. The price will move around the support at $5.1, and a full recovery is expected within a few days.
Toncoin (TON) is attracting the attention of investors as it expects further relief and further profits. Leading analysts suggest that it will rise above $7 in the coming weeks and enter the list of the best cryptocurrencies to invest in.
conclusion
The recent drop in Dogecoin (DOGE) and Toncoin (TON) prices was due to the annual inflation rate in the US rising to 2.4%. Meanwhile, IntelMarkets (INTL) maintained its bullish momentum, surpassing its $1 million funding goal in record time. The combination of AI, blockchain technology and DeFi makes this year a bullish wave worth riding.
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