The excitement around September’s Fed rate cut was dwindled by the recent inflation data. Earlier this week, the US Bureau of Labor Statistics reported that inflation rose 2.4% over the last 12 months.
This development exceeded expectations and was met with an overall market decline, dragging down the prices of Dogecoin (DOGE) and Toncoin (TON). However, an altcoin maintained its bullish traction: IntelMarkets (INTL). The viral AI crypto is an investor favorite, standing out thanks to its impending transformation of the crypto trading scene.
IntelMarkets (INTL): A New AI Token to Watch for Massive Gains
The viral AI crypto IntelMarkets (INTL) continues to defy bearish trends, soaring past the $1 million fundraising milestone. Behind this soaring interest and rising demand are its solid fundamentals as an AI-powered trading platform and explosive upside potential.
As a new and emerging cryptocurrency, it has plenty of room for growth, more so than top altcoins like Dogecoin (DOGE) and Toncoin (TON). Moreover, it is both budget-friendly and heavily discounted at $0.027 in the third stage of the ICO. Given its impending adoption, industry experts believe it is on track for a 100x jump after listing on Tier-1 exchanges, making it a new DeFi project to keep on the radar.
Meanwhile, by combining AI with blockchain technology and DeFi, analysts see it transforming the $347 billion crypto trading market. Its AI-powered trading platform is tipped to become the next big thing, offering users unprecedented computing power. Other features include trading bots, 1,000x leverage, copy trading and a dual-chain architecture, which will support and can run on the Ethereum and Solana blockchains.
Dogecoin (DOGE) Regains $0.1 Support After Downturn
Dogecoin (DOGE), an industry leader, is a popular name in the meme ecosystem. As the first and leading fun-themed cryptocurrency, it isn’t only an investor favorite; institutional players have also been showing a keen interest.
What it lacks in technicality, the dog-themed cryptocurrency makes up for in a vibrant community—one of the biggest in the crypto scene. Despite its humble beginnings, Dogecoin (DOGE) has become a great store of value, on the list of the best cryptos to invest in.
However, following the latest inflation data, the Dogecoin price took a downturn. However, it has been able to reclaim the $0.1 support, inching toward a complete reversal. A Dogecoin price prediction forecasts a weekly close above $0.12, positioning it among the altcoins to watch.
Toncoin (TON): Eyes a Full Comeback
The Layer-1 token Toncoin (TON) is a top-10 cryptocurrency. It employs the proof-of-stake (PoS) consensus mechanism, which assists with scalability. Amid rising adoption and the popularity of Telegram mini apps, it recorded an annual high of $8.24 in June.
While there has been a significant downturn since then—over 35%—its outlook remains promising. In the crypto market today, the Toncoin price is down by 3% in the weekly charts, falling from a high of $5.4. It changes hands around the $5.1 support, with a full comeback anticipated in the coming days.
With more relief and further gains anticipated, Toncoin (TON) is on investors’ radars. A top analyst suggests a rally above $7 in the coming weeks, placing it on the list of the best cryptos to invest in.
Conclusion
The US annual inflation rate rising to 2.4% was behind the recent decline in the Dogecoin (DOGE) and Toncoin (TON) prices. Meanwhile, IntelMarkets (INTL) maintains bullish momentum, soaring past the $1 million fundraising goal in record time. By combining AI with blockchain technology and DeFi, it is a bullish wave worth riding this year.
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