AGIX Token Soars 680%, Should Investors Watch Out or Jump Onboard?

• SingularityNET [AGIX] has seen a 680% surge in value due to ChatGPT adoption.
• AGIX topped the trending chart per social volume in the last 24 hours and investors have added it to their watch lists.
• The top 20 holders of the token hold about $345 million worth of it, accounting for 55.4% of the total AGIX supply.

SingularityNET’s [AGIX] Price Surge

Social Volume & Attention

SingularityNET [AGIX], on the premise of the ChatGPT adoption, increased 680% in the last 30 days and topped social volume among all assets in the seven days. Yes, the surge in value may not be surprising as it’s not the first time that breakthroughs in other sectors impact tokens linked with them. Additionally, other AI-linked tokens like Fetch.ai [FET] and Ocean Protocol [OCEAN] have trended similarly and attention has been drawn to AGIX as many investors added it to their watch lists.

Top 20 Token Holders

According to Lookonchain, the top 20 holders of AGIX held about $345 million worth of it which represented 55.4% of its total supply. This means that whales mostly determine buying or selling pressure for this token and some whales have sold no part of their holdings yet.

Indicators: Overbought or Uptrend?

The Bollinger Bands (BB) at press time revealed that AGIX’s volatility was extreme but there were chances that it could be overbought since its price hit the upper volatility band – aligning with Santiment’s opinion for investors to be cautious about expecting a further increase from this token. However, according to Directional Movement Index (DMI), its direction seemed likely headed uptrend rather than a reversal.

Final Thoughts

All in all, SingularityNET has a globally accessible marketplace where users can create, share, and monetize AI services using its token – AGIX – which also allows users to vote on operations with staking options available too! Therefore, given recent behavioral trends pointed out by Santiment and technical indicators from DMI and BB; AGIX might continue heading uptrend despite being overbought though investors should remain cautious while going long on this asset!