{"id":181926,"date":"2026-06-16T19:55:12","date_gmt":"2026-06-16T19:55:12","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=181926"},"modified":"2026-06-16T19:55:12","modified_gmt":"2026-06-16T19:55:12","slug":"bittensor-tao-slips-7-daily-yet-a-price-explosion-may-come-next","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=181926","title":{"rendered":"Bittensor (TAO) Slips 7% Daily, Yet a Price Explosion May Come Next"},"content":{"rendered":"

Many leading altcoins are well in the green today (June 16), but Bittensor (TAO) has failed to follow the overall upswing, posting a substantial daily decline.<\/p>\n

Even so, several analysts think it could be gearing up for a rebound that might carry it back to multi-month highs.<\/p>\n

Big Pump Incoming?<\/h2>\n

TAO currently trades at around $268, a 7% plunge over the past 24 hours. It is important to note that its decline occured despite Grayscale\u2019s positive remarks. Just hours ago, the digital asset management company claimed<\/a> that centralized companies like Anthropic are more vulnerable to government intervention and decentralized projects like Bittensor \u201coffer an alternative.\u201d<\/p>\n

\u201cBittensor provides open-source, permissionless access to AI through a decentralized global network,<\/span>\u201d the firm posted on X.<\/p>\n

X user Altcoin Sherpa noted<\/a> that TAO has lagged behind numerous well-known cryptocurrencies, suggesting the weakness may stem from traders pre-positioning and many already being fully allocated. At the same time, the analyst said TAO still \u201clooks good\u201d and that they remain invested in it.<\/p>\n

\u201cThis current area is a bit of a resistance spot, 200d EMA + S\/R level, but if it can break here, I think the low $300s is my next area up,\u201d the X user added.<\/p>\n

Ali Martinez also gave his two cents. He argued<\/a> that TAO is approaching the top of its descending channel and predicted that a decisive break could open the door to a jump to $350 and then $420.<\/p>\n

The asset\u2019s recent exchange netflow raises the possibility of a short-term revival. Over the past few weeks, outflows have surpassed inflows, suggesting that many investors have abandoned centralized trading venues in favor of self-custody solutions, thereby reducing immediate selling pressure.<\/p>\n

<\/a>TAO Exchange Netflow, Source: CoinGlass<\/p>\n

How About $500?<\/h2>\n

Another analyst who seems very fond of TAO is Michael van de Poppe. A few days back, he described<\/a> the token\u2019s chart as \u201cphenomenal\u201d and envisioned a potential price explosion to $500.<\/p>\n

Shortly after, he opined<\/a> that the strongest altcoins from the previous months, including TAO, could extend their solid performance in the near term, provided Bitcoin (BTC) has already bottomed.<\/p>\n

Recall that at the start of June, the primary cryptocurrency briefly collapsed to around $59,000 \u2013 its lowest point in 19 months. And while it has recovered well above $65,000 following the peace deal between Iran and the US, some analysts believe<\/a> the worst for this cycle has yet to come.<\/p>\n

The post Bittensor (TAO) Slips 7% Daily, Yet a Price Explosion May Come Next<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Many leading altcoins are well in the green today (June 16), but Bittensor (TAO) has failed to follow the overall upswing, posting a substantial daily decline. Even so, several analysts think it could be gearing up for a rebound that might carry it back to multi-month highs. Big Pump Incoming? TAO currently trades at around […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-181926","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/181926"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=181926"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/181926\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=181926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=181926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=181926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}