AI Companions token rises as technicals point to a 45% AIC surge

AI Companions, a relatively new AI-focused token, has surged for four consecutive days, reaching its highest point since October 1.

AI Companions (AIC) rose 33% from this month’s low to $0.1070, pushing its market cap to over $88 million.

This increase coincided with the continued rise of AI stocks. The most popular artificial intelligence company, Nvidia, rose to $140.80, its highest swing on record, and its valuation rose to over $3.36 trillion.

Some other companies have also performed well in the last few months. Palantir shares are up more than 183% from this year’s low point to $44.4. Other companies such as Microsoft, Amazon and Meta Platforms are also on the rise. Similarly, most AI cryptocurrencies such as Bittensor (TAO) and Akash Network (AKT) also jumped.

The AI ​​Companions token also rebounded after being listed by Gate.io, one of the largest centralized exchanges in the industry, which processed $1.4 billion worth of tokens in the last 24 hours, according to CoinMarketCap. The listing will provide access to the company’s millions of customers.

The developers hinted that more centralized exchanges will list it soon. Since AI Companions is built on Binance’s BNB Smart Chain, a potential listing could be Binance.

Developers of AI Companions are leveraging technologies such as virtual reality, augmented reality and artificial intelligence to bring the rapidly growing virtual dating industry into the mainstream.

Recent research shows that as the loneliness epidemic continues, the concept of artificial intelligence-supported virtual friends increases. These virtual platforms can interact with users, answer questions and make jokes.

The New York Post highlighted one person who spends $10,000 a month on his AI girlfriends. In an April post, tech investor Greg Isenberg predicted that a company developing an AI version of Match Group would achieve a $1 billion valuation.

Match Group’s market value is $9 billion. Someone will create an AI version of Match Group and make more than $1 billion.

I met a guy in Miami last night and he confessed to me that he spends $10,000 a month on his “AI girlfriends.”

I thought you were joking. But he’s a 24-year-old single man who’s in love… pic.twitter.com/wqnODwggAI

– GREG ISENBERG (@gregisenberg) April 9, 2024

AI Companions forming bullish flag AI Companions forming token | Chart by TradingView

The four-hour chart shows that the AIC token has moved sideways over the past few days. It formed a bullish flag formation by rising above the 25-day moving average. This pattern is characterized by a long vertical line and a rectangular pattern.

AI Companions climbed slightly above the key resistance at $0.1030, the highest high on October 9. Therefore, the token will likely trend upward and the next point to watch will be $0.1500 and 45% from its September high. above the current level.