- Investors are driving AI-related tokens higher, lifting Render, Fetch.ai and SingularityNET.
- This momentum comes as market sentiment turns bullish ahead of Nvidia’s upcoming GTC AI conference.
- Bitbot, a new Telegram trading bot, is also attracting intense investor interest, with its presale raising $845,000 so far.
After meme coins led by Shiba Inu, dogwifhat and Pepe surged earlier this week, AI-related tokens have become the market’s newest focus. Market analysts say the AI token sector could gain additional momentum from Nvidia’s GTC AI 2024 event.
It’s notable that meme coins remain hot while Bitcoin holds above $66,000. Another market trend this week is Bitbot (BITBOT), a Telegram trading bot that analysts predict could deliver 100x returns in 2024 as its presale progresses.
Bitbot stands out as AI tokens rally
AI tokens Render (RNDR), Fetch.ai (FET) and SingularityNET (AGIX) have all posted strong gains: RNDR rose about 31% over 24 hours, FET climbed roughly 36% and AGIX increased around 28%.
On-chain research shared by LookonChain highlighted that renewed interest in AI narratives ahead of Nvidia’s GTC AI is driving these token moves.
Alongside the AI token surge, Bitbot (BITBOT) has been generating significant buzz. Early crypto traders participating in the Bitbot presale have allocated more than $845,000 to BITBOT, the native utility and governance token of the Bitbot ecosystem. Bitbot is currently in phase 4 of a 15-phase presale schedule.
The presale includes 300 million BITBOT tokens, and the current price per token is $0.0116.
What is Bitbot?
Bitbot is a new entrant in the rapidly growing category of Telegram trading bots. Although still in presale, demand for the native token and anticipation around the app launch are creating noticeable market interest.
A key selling point is that Bitbot aims to be the world’s first non-custodial trading bot on Telegram. This distinction is significant for traders who have been concerned about recent security incidents involving other bots such as Unibot, Banana Gun and Maestro.
Bitbot recently released a product update outlining the architecture of its non-custodial trading solution. The update describes how the bot leverages its proprietary KnightSafe self-custody technology to provide a secure trading experience for users.
Beyond non-custodial custody, Bitbot includes additional safeguards such as MEV protection and other security measures to prioritize user safety, which could set it apart from competing Telegram bots.
Is the presale a good time to invest in Bitbot?
As noted, Bitbot plans to deliver more than an advanced institutional-grade trading bot on Telegram. For some investors, BITBOT may present an attractive opportunity.
Compared with current Telegram trading bots, Bitbot aims to offer users the dual advantage of advanced trading tools and full control over private keys—an important feature for many crypto traders.
Expectations around Bitbot are growing, and some observers view BITBOT as one of the tokens that could see substantial gains in 2024 if exchange listings and the bot’s launch proceed as planned. Historical examples, such as Unibot’s dramatic rise of roughly 9,500% between May and August 2023—during which its token soared from lows around $2.46 to highs near $236—illustrate how fast some project tokens can move.
However, security incidents later reduced Unibot’s market value, underscoring the risks in this space. With a well-designed and secure bot like Bitbot aiming to address those risks, substantial upside—potentially even major multiples—remains possible, though not guaranteed.
For more detailed technical information, read Bitbot’s whitepaper available from the project’s presale page.