By Cryptocurrency prices have remained on edge this week as the crypto fear and greed index retreated from the greed zone of 63 to 57. Bitcoin has also retreated from this week’s high of $69,300 to $66,900. Other tokens like Scroll (SCR), Daddy Tate, DeepBook, and ApeCoin have also retreated sharply. This article looks at Pi Network (PI), Catizen (CATI), and AI Companions (AIC).
AI Companions price analysis
AI Companions is a new blockchain company at the intersection of artificial intelligence, augmented reality, and social media.
The developers are working on a solution that will make it possible for people to have real virtual companions at a time when a loneliness pandemic is going on.
This is a big industry, which some analysts believe is in its infancy. For example, some analysts believe that a person who will create a platform similar to Match.com but for virtual relationships will have a $1 billion business.
There are also reports of people who are spending thousands of dollars a month on virtual partners.
According to its roadmap, AI Companions is now its first phase, which includes the white paper release, website launch, token launch, and other preliminary activity. In the next phase, the creators will launch the companion feature to users, followed by expansion and gamification.
To be clear: a roadmap in the crypto industry should always be taken with a grain of salt because the sector is not regulated. Crypto developers, unlike corporate CEOs, don’t have a fiduciary duty to investors. Also, it is too early to predict whether the AI Companions solution will be successful.
The AIC token price came in the spotlight last week after it was listed by Gate.io, one of the biggest players in the industry. It has also been listed by MEXC and BingX, and the developers have hinted that more listings are on the way.
On the 4H chart, we see that the AIC token has moved sideways in the past few days, and is slightly above the 50-period Exponential Moving Average (EMA). Therefore, the token will likely remain in this range in the near term.
The key points to watch will be at $0.095 and $0.1146. A break above the resistance point at $0.1146 will point to more gains, with the next point to watch being at $0.15, which is about 50% above the current level. A drop below the support at $0.095, will point to more downwards.
Catizen price analysis
Catizen is one of the biggest play-to-earn networks in the Telegram ecosystem, with over 40 million users.
Like other large players in the sector, the goal is to collect as many tokens and then sell them when they are listed by exchanges.
Catizen launched its airdrop in September, with the developers distributing about 200 million tokens to players. The maximum supply is 1 billion, meaning that existing holders will continue to be diluted.
The CATI token has dropped sharply since then, bringing its market cap to $90 million. Its fully diluted valuation stands at $441 million.
Catizen’s performance mirrors that of other Telegram tokens like Hamster Kombat, Notcoin, and PixelVerse, which have all plunged.
On the two-hour chart, the CATI token bottomed at $0.3921 on Oct.11 and attempted to bounce back. It then found a strong resistance at $0.50, its highest level on Oct. 14 and Oct. 23. It has moved to the 50-period moving average.
Therefore, there are rising odds that the Catizen price will have a relief rally in the coming weeks. If this happens, it could rally to the next point at $0.5847, its highest swing on October 5.
Read more: Hamster Kombat, Catizen, DOGS, Notcoin face a rude awakening
Pi Network IoU price analysis
Meanwhile, Pi Network, one of the most popular cryptocurrencies has come into the spotlight as the mainnet launch nears.
The developers have hinted that the move to the Open Network will happen this year. And since two months are remaining, it means that the listing will happen in December. I, however, expect that the mainnet launch will take longer to happen.
For one, it is unclear whether the developers will have achieved the three pre-listing conditions: at least 100 mainnet-ready applications, 15 million pioneers with KYC, and a friendly environment.
The KYC process is continuing and is expected to be completed in November. However, there are still no 100 applications in the ecosystem, meaning that the mainnet listing may be delayed.
On the daily chart, the Pi Coin IOU price bounced back and reached a high of $51.95 on October 12. It has remained above the ascending trendline that connects the lowest swings since December last year.
Pi Coin remains above the 50-day moving average. Therefore, there is a likelihood that it will bounce back in the next few days as investors target the key resistance point at $51.95.
PI chart by TradingView
Read more: Will the Pi Network mainnet launch in 2024?
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