HomeCryptoLatest news and market analysis of the crypto SingularityNet (AGIX), Floki (FLOKI),...

Latest news and market analysis of the crypto SingularityNet (AGIX), Floki (FLOKI), and Shiba Inu (SHIB)

In this article we see what the latest news is for 3 crypto projects SingularityNET (AGIX), Floki (FLOKI), and Shiba Inu (SHIB).

Subsequently, let’s take a look at the evolution of the prices of the respective coin AGIX, FLOKI, and SHIB. In June, these crypto recorded a very negative performance with depreciations around 30%.

Now, however, it seems that the storm is over and we can return to a bull market.

Let’s see all the details below.

Latest news from the crypto world: AGIX begins the migration process to ASI

Starting from the project SingularityNET, we can see how yesterday the migration process of the crypto AGIX towards the new coin ASI was announced.

We remember that recently the 3 tokens AGIX, OCEAN, and FET have joined forces to create a single resource, giving life to the Alliance for Artificial Superintelligence.

This association will take care of accelerating the process of expanding its technologies around a single entity, supporting a scalable AI infrastructure.

Now everything is ready for the first steps of this highly anticipated merger, marking a significant step towards the creation of an independent and decentralized AI ecosystem.

In this initial phase the coins AGIX and OCEAN will be exchanged in FET according to a conversion rate of 0.43335:1, through the platform SingularityDAO.

This is a practice request to all coin holders on private wallets, who will need to move the funds in advance to the Ethereum blockchain.

Those who hold the coins on exchange will not have to do anything and the conversion will take place automatically. 

The trading of FET continues as usual until the completion of the migration, waiting for the majority of the community to have completed the transition.

Subsequently, in phase 2, the distribution of ASI to all FET holders will take place, implementing the new cryptocurrency on multiple chains. All Mainnet FET tokens will automatically convert to ASI during the Fetch.ai mainnet upgrade. 

We remind you that the migration contracts will be open for years, allowing ample time for all conversions. 

Regarding this crucial step for support, Humayun Sheikh, president of the Artificial Superintelligence Alliance and CEO of Fetch.ai, reported the following:

“The symbolic merger today underscores our commitment to promoting safe artificial intelligence. By combining our tokens, we aim to enhance operational efficiency and seamlessly integrate decentralized artificial intelligence systems, ensuring broad access to cutting-edge artificial intelligence technologies. This merger marks the beginning of an ambitious journey to foster unparalleled collaboration and openness, setting new standards for the industry.”

Source: https://www.singularitydao.ai/migrate-asi

The news in the memecoin field for Floki and Shiba Inu

Let’s now see what news the cryptographic industry has in store for the memecoins Floki and Shiba Inu.

As for Floki, we can report the start of the open beta phase for the new trading bot that lands in mainnet on blockchain.

Initially, the bot will be active on 3 EVM networks, namely Ethereum, BNB chain, and Base, ensuring a wide range of coins to trade and ample liquidity. Subsequently, it is possible that it will be expanded to more networks, offering greater breadth of movement on more crypto exchanges.

The new tool is inspired by the products developed by the telegram ecosystem such as Unibot and Banangun to provide a simple and effective interface for quick trading.

In a few clicks, you can indeed buy and sell a cryptocurrency, also choosing from those just listed on DEX, on multiple cryptographic networks.

Anyone can use the Floki trading bot without limitations: 50% of the fees is used to purchase the FLOKI token and then burn that portion. The remaining part of the fees stays with the project’s treasury, which will use the funds to strengthen its community.

On the Shib front, however, it is worth noting how the project is offering a “free” airdrop to all holders of the LEASH asset.

We remind you that LEASH, together with BONE and SHIB, forms a triad of tokens belonging to the Shiba Inu ecosystem: all 3 tokens can be used in DeFi using the ShibaSwap platform, simultaneously unlocking various rewards and incentives.

One of the latest incentives is precisely an airdrop of the AIR token; belonging to the DePin AIRian project.

All LEASH holders are invited to go to the Galxe page and complete the indicated quests to win a portion of the prize pool.

The prize pool consists of 20 AIR Bombs (NODES) and 100,000 AIR tokens.

This is an excellent initiative aimed at creating support for the holders of the Shiba Inu ecosystem, encouraging users to hold their crypto in anticipation of exclusive rewards.

Source: https://app.galxe.com/quest/AIRian/GCVhetgok8

Price analysis for AGIX, FLOKI, and SHIB (Shiba Inu) crypto

Moving to the price front, let’s see how the coins AGIX, FLOKI, and SHIB are doing.

All 3 suffered the weight of the declines in the month of June, with performances ranging from -29% to -31%.

After a super positive first quarter of the year for the majority of altcoin, the second quarter ended with a deep red.

The quotations have dropped so violently as to cancel out most of the gains previously recorded.

AGIX for example from January to the top of March had grown by about 410%, but after the last retracement it can boast a reduced growth of 100%.

FLOKI and SHIB follow the same situation, reflecting a very cohesive altcoin market dependent on external factors

Now that the storm seems to have ended, we can hypothesize a recovery in prices towards a more comfortable zone for traders. With the possible imminent listing of the spot ETH ETFs it is likely that the altcoin market will head towards a temporary recovery.

Especially on the front of ERC-20 tokens, we expect a phase of consolidation and a restart of the quotations from now until the end of the year.

Beyond the general conditions of the cryptocurrency market, it should be noted how the AI and meme sectors have already been the protagonists of speculations during the end of 2023 and the beginning of 2024.

It is therefore not excluded that in the coming quarters they may leave room for maneuver for projects from other sectors, underperforming the benchmark.

For AGIX, the price evolution will also depend greatly on the ability of the Supercollective to attract market attention, as well as on the financial results of the company Nvidia.

The merger in ASI could still ensure a flow of new purchases sufficient to bring prices back to pre-dump values.

For SHIB and FLOKI, everything will depend on how much the speculation fever will still be driven. Generally, memecoin get more movements when the market outlook is particularly positive. 

We should wait at least until September to see memecoins pump excessively again, in a context where we expect to see BTC and ETH at all-time highs.

In a similar scenario, it is possible that even SHIB and FLOKI go for the breakout of local highs, but underperform the indices.

Alessandro Adami
Alessandro Adami
Graduated in "Information, Media and Advertising", for over 4 years interested in the cryptocurrency and blockchain space. Co-Founder of Tokenparty, community active in spreading crypto-enthusiasm. Co-founder of Legal Hackers Civitanova marche. Information technology consultant. Ethereum Fan Boy and supporter of Chainlink oracles, strongly believes that smart contracts will be central in the development of society.