The Helium (HNT) price has been fluctuating, recently reaching a high above $5.50 but then pulling back. Some are wondering if the cryptocurrency might rally back towards $10. Helium is a DePIN network that utilizes a decentralized global network of wireless hotspot providers who also serve as miners. After dropping to the $3.40s last month, the Helium price managed to recover above $6.0 last week. However, bullish momentum has waned, and the price has not been able to sustain levels above its 50DMA, currently at $5.40. Despite this, chart analysis suggests that the bearish trend from March to April has been broken. This indicates that while a new bull run may not be imminent, the recent bearish phase is likely over.
In order for Helium to potentially reach yearly highs above $10, it needs to surpass its 50 and 200DMAs, which are positioned between $5.40 and $5.70. A decisive breakout above $6.0 could signal that these levels have been breached. The next major levels to target would be the $8.0 balance zone and then $10. With Helium’s small market cap of around $860 million, there is room for significant upside potential, and $10 could be easily achievable. However, the long-term success of HNT as an investment remains speculative, as the adoption of Helium’s DePIN network on a global scale has yet to materialize.
For investors looking for an alternative to HNT, Wiener AI (WAI) is worth considering. Wiener AI is a meme coin with AI trading capabilities that has garnered attention from analysts. The project has already raised over $1 million and offers staking rewards to investors. Currently priced at $0.000703, investors have the opportunity to purchase WAI at a market cap of approximately $45 million. If WAI can establish itself as a market leader, investors could see gains of 10x or more. Additionally, 20% of the token supply has been allocated to staking rewards, with presale investors currently earning a significant 817% APY, potentially allowing them to double their investment in around one month.
Presale investing, such as in projects like Wiener AI, involves purchasing tokens of new crypto projects before they gain traction. While presales carry risks, as projects may fail to deliver on their promises, successful identification of promising projects can lead to significant gains. Wiener AI, with its AI capabilities and passive income potential through staking rewards, presents an opportunity for investors with a higher risk tolerance and an interest in potential high returns. As with any investment in the cryptocurrency space, it is important to conduct thorough research and understand the risks involved.
