Crypto Analyst Shares Top AI Altcoin Investments This Month – TradingView News

In an analysis of the current landscape at the nexus of artificial intelligence and altcoins, crypto analyst Prithvir (@Prithvir12) recently shared insights via X that highlight the opportunities and pitfalls in the AI ​​coin market this month. Analysis of it covers upcoming AI catalysts, their impact on specific tokens, and personal investment recommendations, shedding light on the nuanced strategies required in this volatile segment.

In-depth Analysis of the AI ​​Crypto Market

Prithvir highlights a number of significant events in the AI ​​space that are expected to directly impact crypto markets. He first points to NVIDIA’s earnings announcement scheduled for May 22, emphasizing NVIDIA’s pivotal role in AI technology, which could have ripple effects on AI-centric cryptocurrencies.

Further shaking up the market is the buzz surrounding OpenAI’s GPT-4oT. Additionally, Prithvir discusses the influence of major technology conferences focused on advances in AI, namely Google’s I/O conference and Apple’s emphasis on AI at its upcoming Worldwide Developers Conference (WWDC). He predicts that these events are about to introduce new AI initiatives that could impact crypto markets.

In his post, Prithvir also analyzes several tokens that have responded differently to these AI catalysts. He describes WLD, linked to OpenAI through Sam Altman, which suffered a 20% price drop last week, a typical “sell the news” reaction following the GPT-4o announcement. He expresses concern about WLD’s “ridiculous tokenomics” and the risks posed by possible coordinated short squeezes, advising traders to approach with caution.

Prithvir also addresses OLAS, which, despite having lost some visibility since its peak in 2023, remains active on the Gnosis chain and could be poised for a comeback depending on market conditions and the evolution of its platform, according to the analyst.

The SPEC token, however, showed significant volatility, spiking from $5 to $15 and then retracting to $8 within two weeks. Prithvir criticizes its high fully diluted valuation (FDV) of close to a billion dollars, warning of the speculative nature and risks inherent in involvement with such a volatile asset.

Lastly, he addresses the group of ASI FET, AGIX and OCEAN tokens representing the Super Intelligence Alliance, noting that their leading positions in AI-driven market recoveries have declined. According to Prithvir, these tokens are currently overvalued, with limited upside potential, indicating a saturated market state for these assets. Prithvir’s Top Altcoin Picks

Navigating the complexities of the AI ​​coin market, Prithvir shares his preferred investment strategies and choices. He highlights Render (RNDR) as a favorable pick, especially leading into NVIDIA’s earnings and Apple’s WWDC, due to its direct ties to their technologies and expected feature improvements that could increase its value.

“NVIDIA because of GPU networking comparisons and Apple because of the rendering software they built that Apple always presents in different keynotes. Therefore, I think this could be a good swing trade until the WWDC period – 3 weeks”, said the analyst.

AR is Prithvir’s “biggest AI coin today.” The project is praised by him for its pivot into AI functionalities with AO Computer and robust team. AR’s presence on Tier 1 exchanges and its substantial support make it a “no-brainer” for medium-term holding.

He also mentions NEAR, albeit with a smaller investment footprint due to perceived limited upside. “Smaller position than AR due to more limited upside. But it could become one of the consensus AI deals of this cycle due to its brand value, good liquidity and innovations in other sectors like Chain Abstraction,” Prithvir wrote via X.

At press time, RNDR was trading at US$10.1089.

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