Altcoins get weirder and more wonderful as time goes on, from multi-tasking blockchains to AI-powered graphic design. It sure is a far cry from the original cryptos created merely as a form of currency. This makes us spoiled for choice as to which altcoins to buy.
But cryptos are inherently high-risk investments for speculators putting their hard-earned money into them. So I’ve picked out three altcoins to buy that I think have enough potential to hit 10X this year.
This potential comes from factors like proven growth, upcoming projects, mainstream acceptance and financial backing
Moreover, if you look at the charts, you’ll see almost all AI altcoins positioned in a bullish cup and handle formation. This fits perfectly with upcoming AI sector launches that will act as catalysts for AI cryptos. OpenAI in particular, will launch several projects this summer which will act as such catalysts.
Here are 3 AI-based altcoins to buy.
Toncoin (TON-USD)
Toncoin (TON-USD) is a blockchain originally developed by Telegram. Today, it is developed by The Open Network (TON) Foundation. The blockchain operates across games, transactions, NFTs and more.
TON shot up to revisit its recent all-time highs. The anticipated launch of the Notcoin (NOT) token on the TON network was a driver behind the move. It saw $294 million in trading volume on the May 16 launch day alone.
The chart shows strong buying pressure against resistance. Price action looks even more bullish than its recent run that created an all-time high. A bull flag is currently forming just below it.
A break of the all-time high of $7.63 could see prices reach $10 in the short term. No further chart resistance after that. This makes it one of the more exciting altcoins to buy this year.
Keep an eye on broader crypto market conditions as well as AI catalysts. These will help to serve as confirmation of TON’s upward moves going forward.
Render (RNDR-USD)
Render (RNDR-USD) produces decentralized GPU-based 3D rendering solutions. RNDR’s token spiked after their project was featured at Apple’s (NASDAQ:AAPL) recent event. Like TON, RNDR is forming a huge bull flag in the short term. This is at the same time as the cup and handle pattern on the long-term chart that most AI cryptos are showing. This confluence of patterns shows great promise for a price rise this year.
If the bull flag plays out as expected, RNDR could go to $17 as per the cup and handle target.
But whether it plays out will depend in big part on AI catalysts. These include Chat GPT-5, the OpenAI search engine, and the video product Sora. Watch how the AI sector performs over the summer. This will impact RNDR’s price. The more successful releases of AI catalysts, the better it looks. But the launches being successful are a must! Watch that sector closely.
Akash (AKT-USD)
Akash (AKT-USD) network is one of the pioneers of cloud computing, using open-source blockchain technology and the eco-friendly proof-of-stake consensus mechanism.
Following on from my analysis of AKT last week, the AKT coin appears to be consolidating its position within an Elliot wave third leg up. It completed a 5-wave pattern back up to resistance which could be the first leg of wave 3.
On the fundamentals side, it recently pumped in response to a combination of OpenAI’s upcoming announcement and Akash Network’s own upcoming event in Argentina.
AKT looks very bullish on its longer-term price chart. A massive cup and handle pattern is showing. If it plays out along with the Elliot wave confluence of patterns, AKT could break out hard.
Despite the technicals, moving upwards in the short term depends on the success of the upcoming AI catalysts. Look for a break of $6.15 for a potential entry point.
On the date of publication, Sam Farnham did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
