With improving market sentiment, October presents potential gains for tokens powering Decentralized Physical Infrastructure Networks (DePINs) among altcoins.
Keep an eye on notable DePIN coins in the upcoming month, including Bittensor (TAO), Robonomics Network (XRT), Render (RENDER), Anyone Protocol (ANYONE), and IAGON (IAG).
Exploring Bittensor (TAO) Surge
TAO, the token fueling Bittensor’s decentralized machine learning network, has experienced a remarkable 78% price spike in the past week. This surge has propelled the altcoin to levels not seen since April.
The increasing on-balance volume (OBV) of TAO indicates a strong bullish bias, signaling high buying pressure and investor confidence in its potential to appreciate in value.
If TAO’s uptrend continues, breaking above $651.34 could establish it as a support level, setting the stage for a rally towards its previous all-time high of $774.86 from April 11.
Robonomics Network (XRT) Emerging Demand
XRT, the utility token of Robonomics, a decentralized cloud storage provider, has surged by 83% in the last week, currently trading at $4.72. It stands out as the top-performing DePIN coin recently.
The rising Chaikin Money Flow (CMF) and on-balance volume (OBV) for XRT indicate solid demand and increased buying activity, potentially driving the token’s price to $7.71.
XRT Price Analysis. Source: TradingView
Nevertheless, profit-taking could reverse the trend, causing XRT to drop to $1.84, a potential monthly low.
Rising Above for Render (RENDER)
RENDER has surged by 31% over the past week, currently trading at $6.10, crossing key moving averages as it breaks free from resistance levels that held since June.
The breakthrough above the 20-day EMA and 50-day SMA signals strong momentum for RENDER, setting the stage for a potential rally towards $7.26.
Render Price Analysis. Source: TradingView
Sustained trading above these critical levels indicates an uptrend gaining momentum, with the potential to continue its trajectory upwards.
Charting the Path for Anyone Protocol (ANYONE)
ANYONE, the token bridging traditional applications with a decentralized privacy network, has surged by 68% to $1.23, indicating a bullish bias for potential October growth.
The Parabolic SAR indicator suggests a strong bullish trend, possibly propelling ANYONE’s price to $1.45. However, a shift in market sentiment could see the token’s price dip to $0.86.
Anyone Price Analysis. Source: TradingView
Unlocking Potential with Iagon (IAG)
Iagon, an AI-powered shared storage and compute platform, has seen its utility token, IAG, rise by 63% to $0.12 in the past week, its highest since June. IAG presents an intriguing opportunity in the DePIN space.
The MACD indicator hints at a continued rally for IAG, with the potential to reach $0.14 if buying momentum persists. However, a decline in buying pressure could lead to a retreat to $0.10.
