Over the past 24 hours, the price of Render Token (RNDR) has seen a moderate surge of 1%, cushioning the impact of a substantial 10% slump observed in the past week. Despite this dip, the token’s performance in the last year is not to be dismissed. Propelled by the enthusiastic thrum of the AI and metaverse/VR industries, RNDR has accomplished an impressive 241% leap.
Despite this, skepticism over its future performance is on the rise. The current falter in price might be more than a short-term hiccup and could indicate a momentum plateau. Consequently, this assumes that the chances of the altcoin replicating past feats in late 2023 could be immensely slim.
In the midst of this, emerging tokens are hinting at the potential for gains where established coins seem to stumble. Interestingly, Thug Life Token (THUG), a new meme coin that resonates with the gangsta rap and hip-hop communes, greatly stands out.
RNDR’s recent performance tune is uncertain at best. After stooping to an oversold position of 30, as indicated by its relative strength index, it rebounded to 50, pointing to a positive momentum. Its 30-day moving average appears to have halted its descent below the 200-day average, suggesting a nascent upward swing.
The optimism for recovery blossoms further with RNDR’s resistance against slipping below the $1.90 mark. All these numbers seem to paint a promising picture, but predicting substantial and lasting boosts would be premature.
A once standout crypto, RNDR soared through the ranks with the aid of AI and the metaverse buzz, in addition to support for the Render’s OctaneX rendering app on recent iPad models. However, its peak of $2.85 in May seems distant now. Moreover, the utilization of the Render app on mainstream devices and sustained hype for AI and the metaverse remain questionable.
Reiterating, RNDR may not witness another monumental surge this year unless there’s groundbreaking news on adoption.
As potential for RNDR’s growth wanes, traders searching for market-beating returns could now contemplate alternative investment opportunities. The presale token market, for instance, carries lucrative prospects. One promising example is the Thug Life Token (THUG).
Launched merely two days back, THUG’s presale has already mustered over $115,000 — quite remarkable for a token that’s garnered zero marketing. With a firm cap of 4.2 billion tokens and an expansive allocation of 70% towards its presale, THUG could shape up as a more decentralized crypto, ensuring long-term community support.
The THUG presale offers a flat rate of $0.0007 per token. Should the rising presale total reflect on exchange listings, investors hopping on this bandwagon might just find the treasure chest they are looking for.
Disclaimer: Keep in mind, crypto is a high-risk asset class. This article is information-oriented and is no means a directive for investment. It’s possible you could lose all your capital.
Source: Cryptonews
