5 Unique DePIN Coins to Add to Your Cryptocurrency Portfolio in October 2024
As the overall market sentiment improves, there are several unique DePIN coins that are exhibiting potential gains in October. These coins are part of the Decentralized Physical Infrastructure Networks (DePINs) and offer unique features and opportunities for investors. Here are five uncommon DePIN coins to watch out for next month:
1. Bittensor (TAO): TAO is the token that powers Bittensor’s decentralized machine learning network. Over the past week, TAO has experienced a significant spike of 78% in value, reaching a price level not seen since April. With a rising on-balance volume (OBV), indicating strong buying pressure and market confidence, TAO could potentially break above $651.34 and rally towards its all-time high of $774.86.
2. Robonomics Network (XRT): XRT is the utility token of the Robonomics network, a decentralized cloud storage provider. It has witnessed an impressive 83% increase in value over the past week, making it the top-performing DePIN coin in terms of growth. The rising Chaikin Money Flow (CMF) and increasing on-balance volume (OBV) further support XRT’s price increase. If the buying pressure continues, XRT could potentially reach $7.71, but profit-taking may reverse the trend and drive its price down to $1.84.
3. Render (RENDER): RENDER is a DePIN coin currently trading at $6.10, marking a 31% increase over the past week. This surge has pushed the token past its 20-day exponential moving average (EMA) and 50-day simple moving average (SMA), indicating strong momentum. If RENDER successfully maintains its position above these key levels, its price may rally towards $7.26.
4. Anyone Protocol (ANYONE): ANYONE is the token that bridges traditional applications with a decentralized privacy network through the Anyone Protocol. It has experienced a 68% increase in value over the past week, making it another notable DePIN coin to watch. The presence of the Parabolic Stop and Reverse (SAR) indicator suggests a strong bullish trend, with a potential price climb to $1.45. However, if market sentiment turns bearish, ANYONE’s price could fall to $0.86.
5. Iagon (IAG): IAG is the utility token of Iagon, an AI-driven shared storage and compute economy. With a 63% increase in value over the past week, IAG is currently trading at $0.12, its highest price since June. The moving average convergence/divergence (MACD) indicator indicates the potential for a continued rally, with the short-term moving average outpacing the long-term average. If buying momentum remains strong, IAG could rally further towards $0.14, but a decrease in buying pressure could lead to a retreat to $0.10.
These unique DePIN coins offer investors diversified opportunities within the cryptocurrency market. However, it is crucial to conduct thorough research and analysis before making any investment decisions.