Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SLOT
  • CASINO
  • SPORTSBET
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SLOT
  • CASINO
  • SPORTSBET
  • SUBMIT
Crypto Flexs
Home»ALTCOIN NEWS»FET cryptocurrency’s new burn mechanism: could this spur a price surge?
ALTCOIN NEWS

FET cryptocurrency’s new burn mechanism: could this spur a price surge?

By Crypto FlexsNovember 29, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
FET cryptocurrency’s new burn mechanism: could this spur a price surge?
Share
Facebook Twitter LinkedIn Pinterest Email
  • If FET breaks out of the descending channel and is likely to break above $1.67, the price could rise to $2.56.
  • On-chain signals and increased open interest point to a continued bullish outlook and support further price rises.

Federation of Artificial Superintelligence (FET) It recently announced plans to launch an earn-and-burn mechanism in December to burn up to 100 million tokens to reduce supply and potentially drive up the price.

Following this news, FET is up 9.19% and is trading at $1.62 at press time. The question on everyone’s mind is whether this rally can continue and what the technical outlook suggests for the future of FETs.

Is FET breaking out of its downtrend?

FET recently broke out of its bearish channel. This is a movement that usually indicates a change in market momentum. This breakout is promising and suggests that the token could enter a more bullish phase.

FET is currently testing key resistance at $1.67. If the token can break this level, heading toward $2.56 becomes a realistic target. With an RSI of 60.45, FET is not yet in overbought territory, leaving room for further price movement.

FET technical analysis

Source: TradingView

What does the MVRV ratio indicate about investor behavior?

FET’s MVRV ratio is -86.12%, indicating that many holders are losing money. While this may seem worrisome, it points to undervalued assets and could potentially set the stage for a price rebound.

Therefore, the current negative MVRV ratio may represent an opportunity for long-term investors looking for price recovery.

FET MVRV RatioFET MVRV Ratio

Source: Santiment

How do on-chain signals support the optimistic outlook?

On-chain indicators generally provide an optimistic picture. Net network growth decreased slightly to 1.97%, but this is not a major issue considering overall market sentiment.

More importantly, other key signals are very bullish. Into the Money is at 13.36%, meaning a significant portion of FET holders are profiting.

Additionally, large transactions increased by 7.44%, indicating increasing institutional interest. Additionally, the concentration is 0.10%, indicating that investors are accumulating tokens. Collectively, these factors suggest strong support for FET’s price momentum.

Source: IntoTheBlock

Is market sentiment changing in favor of FETs?

Market sentiment is increasingly optimistic. Open interest increased 10.38% to $156.26 million. This is a clear indicator that traders expect further price rises. This increase in open interest suggests that the market is expecting more upside for FET, especially with the upcoming token burn.

Source: Coinglass


Read Artificial Superintelligence Alliance (FET) price forecast for 2024-2025


Given the strong technical breakthrough, positive market sentiment, and bullish on-chain signals, FET is well-positioned for continued price appreciation.

The recent surge in open interest reflects rising investor confidence, and if FET can break the $1.67 resistance, a move towards $2.56 is very likely. Therefore, the uptrend is likely to continue, but we need to keep an eye on key resistance levels to confirm this.

Next: Worldcoin hits 5-month high: Analysis of WLD’s future price trends

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The throat is falling, but the jupnet and ajup spark recovery reduce the potential

October 2, 2025

The method of transforming ASTER WHALES into panic is as follows.

September 25, 2025

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025
Add A Comment

Comments are closed.

Recent Posts

BTCC Exchange Hits 10M Users And $1.15T Q3 Trading Volume, Accelerating Global Expansion

October 9, 2025

MEXC Concludes “Race To Zero” Event, Unlocking 1 BTC Prize Pool

October 9, 2025

Former BlockFi Chief Zac Prince Joins Galaxy Digital to Lead New Banking Platform

October 9, 2025

FLOKI Funds Clean Water Wells In Africa Through Partnership With WWFA

October 8, 2025

Jiuzi Holdings, Inc. Announces Phased Rollout Of $1 Billion Cryptocurrency Acquisition Plan; First Bitcoin Purchase To Be Completed Within Two Weeks

October 8, 2025

Rome Launches Its Genesis NFT Collection “Imperia” On Magic Eden Launchpad

October 8, 2025

BNB price is less than $1,300 on Meme Season Buzz

October 8, 2025

Cryptocurrency trader, OTC fraud claims $ 1.4 million losses, guessing due to KUCOIN deposits

October 7, 2025

Meanwhile, Bitcoin Life Insurer, Secures $82M To Meet Soaring Demand For Inflation-Proof Savings

October 7, 2025

Pepeto Presale Exceeds $6.93 Million; Staking And Exchange Demo Released

October 7, 2025

Eightco Holdings Inc. ($ORBS) Digital Asset Treasury Launches “Chairman’s Message” Video Series

October 7, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

BTCC Exchange Hits 10M Users And $1.15T Q3 Trading Volume, Accelerating Global Expansion

October 9, 2025

MEXC Concludes “Race To Zero” Event, Unlocking 1 BTC Prize Pool

October 9, 2025

Former BlockFi Chief Zac Prince Joins Galaxy Digital to Lead New Banking Platform

October 9, 2025
Most Popular

Unlocking new possibilities: Solama teams up with BingX and AssetDash

April 26, 2024

Crypto Analyst Says Tron (TRX) Is ‘One of the Strongest Altcoins Overall’ But There’s a Catch

September 7, 2024

BingX launches JITO Coin (JTO) in response to rising Solana price

December 14, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.