The recent announcement of a 5 million FET token burn scheduled for January 10, 2025, has sparked optimism among investors, contributing to today's price movement. This initiative, announced by Fetch AI’s co-founder Humayun Sheikh, aims to reduce the total supply of FET tokens, which is expected to enhance their value by creating scarcity in the market. The anticipation surrounding this event, coupled with the growing hype over decentralized AI, has fueled speculations of a potential rally for FET, with some analysts predicting a target price of $2.25. The merger of Fetch AI with Ocean Protocol and SingularityNET to form the Artificial Superintelligence Alliance (ASI) further strengthens its position in the decentralized AI sector, offering a competitive alternative to centralized AI development.
The current price of FET is $1.513094, reflecting a 0.97% increase today. The price has fluctuated between a low of $1.467317 and a high of $1.513094.