- The ChatGPT buzz slowed down, and so did the AGIX value.
- AGIX sentiment was widespread and reached extreme lows.
Artificial Intelligence tokens (AI) were launched around the turn of the new year. SingularityNET [AGIX] It was a large percentage of the positive sentiment expressed towards any cryptocurrency. It is a fact that the rise in cryptocurrency has been reflected in this statement. ChatGPT Investors at the time held a pivotal position in which he played a key role.
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However, the perception enjoyed initially had changed over the course of a month and a few weeks. According to Santiment’s information, the AGIX weighted sentiment There were weekly crests in December 2022 and February 1st.
When the social volume is high, the metric will spike and then dip when overall sentiment is low. At the time this article was written, the weighted mood was in the negative at -0.058. This indicates that investors weren’t as optimistic prior to the ChatGPT hype.
AGIX’s volume was $146 million. On-chain data confirmed this. However, this was still a smaller amount than the previous series of $500 millions.
This means that AGIX transactions have decreased in aggregate, regardless of gains or losses recorded by traders.
Source: Santiment
What could have caused this? ChatGPT caught users’ attention a few months back from a variety of sectors. This attention enabled ChatGPT to achieve unprecedented milestones.
ChatGPT maintained a perfect score on the survey of 100 because of the trend. Google Trends chart. The product’s high trend score remained, but the drop to 82 would certainly impact the AI token hype. AGIX also had interesting facts Looked at Independent of the Bitcoin [BTC] When correlation saw a more than 100% increase in value within a week
Source: Google Trends
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AGIX price action
AGIX was created on March 8, when BTC dropped below $22,000 One of the tokenss, which has lost a substantial part of its value. According to CoinMarketCap, AGIX’s last sevens days’ performance was a fall of 26.74%.
AGIX is currently in tight consolidation due to technical perspectives. This was due the Directional Movement Index, (DMI).
The +DMI (red), and -DMI(green) closed at 20.86 et 21.44, respectively. Despite being at 39.52, the third dynamic line (yellow), also known as Average Directional Index (ADX), had no support for an increase or decrease in price.
Source: TradingView
The Exponential Moving Average (EMA), which predicted that AGIX might establish a long-term uptrend, also suggested that AGIX could do so. This happens when the 200 EMA is able cross the 50 EMA.