AI Companions, a relatively new artificial intelligence-focused token, rose for four consecutive days, reaching its highest point since Oct. 1.
AI Companions (AIC) rose to a high of $0.1070, up by over 33% from its lowest level this month, pushing its market cap to over $88 million.
This surge coincided with the ongoing rally of artificial intelligence stocks. Nvidia, the most popular AI company, soared to a high of $140.80, its highest swing on record, bringing its valuation to over $3.36 trillion.
Some other companies have also done well in the past few months. Palantir shares soared to $44.4, up by over 183% from its lowest point this year. Other firms like Microsoft, Amazon, and Meta Platforms have also rallied. Similarly, most AI cryptocurrencies like Bittensor (TAO) and Akash Network (AKT) have jumped.
AI Companions token also rallied after being listed by Gate.io, one of the top centralized exchanges in the industry, which handled tokens worth $1.4 billion in the last 24 hours, according to CoinMarketCap. The listing will give it access to millions of the company’s customers.
The developers have hinted that more centralized exchanges will list it soon. A potential listing could be Binance since AI Companions is built on Binance’s BNB Smart Chain.
AI Companions’ developers are leveraging technologies like virtual reality, augmented reality, and AI to bring the fast-growing virtual companionship industry to the mainstream.
Recent studies show the concept of virtual AI-powered companions is rising as the loneliness epidemic continues. These virtual platforms can interact with users, respond to queries, and crack jokes.
The New York Post highlighted a person who was spending $10,000 a month on AI girlfriends. In a post in April, Greg Isenberg, a tech investor, predicted that a company that builds the AI version of Match Group would command a $1 billion valuation.
AI Companions forms bullish flag
The four-hour chart shows that the AIC token has moved sideways in the past few days. It has moved above the 25-day moving average and formed a bullish flag pattern. This pattern is characterized by a long vertical line and a rectangle pattern.
AI Companions has moved slightly above the key resistance point at $0.1030, its highest swing on Oct. 9. Therefore, the token will likely have a bullish breakout, with the next point to watch being $0.1500, its highest point in September, and 45% above the current level.
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