Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • 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

Crypto Market Rebound, L2 Surge and ZEC Shock: Daily Insights

October 16, 2025

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
Add A Comment

Comments are closed.

Recent Posts

US Bitcoin ETF loses $1.2 billion weekly

October 20, 2025

DAOs are redefining corporations, but the law is not yet ready.

October 20, 2025

BitDCA Staking Agreement Audit Summary

October 19, 2025

ETFs and liquidity drive outlook for 2026

October 19, 2025

5 Best Crypto Flash Crash And Buy The Dip Crypto Bots (2025)

October 18, 2025

Billionaire Tim Draper Leads $3.2M Seed Round For Ryder To Replace Seed Phrases With TapSafe Recovery

October 18, 2025

IRANcoin Global Reserve (IRCOIN) launches to reshape global digital payments

October 18, 2025

Fusaka Update – Information for Blob Users

October 18, 2025

6 Best AI Quant Bots To Use In 2025: Smarter Trading Starts Here

October 18, 2025

BTC RSI hits April low as Coinbase premium turns red.

October 18, 2025

The Great Inheritance and Crypto: What you need to know.

October 17, 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

US Bitcoin ETF loses $1.2 billion weekly

October 20, 2025

DAOs are redefining corporations, but the law is not yet ready.

October 20, 2025

BitDCA Staking Agreement Audit Summary

October 19, 2025
Most Popular

Aave DAO expressed unanimous support for ZKsync deployment in a community vote.

June 23, 2024

Digital Yuan goes cross-border: Hong Kong unveils e-CNY wallet for local users

May 18, 2024

Trader issues warning on two AI-powered altcoins that rose more than 100x in two months, predicts 50% decline in best-case scenario

January 4, 2025
  • 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.