FET Price Surge: Can it Hit $1?

The Artificial Superintelligence Alliance (FET) token has experienced a significant price increase, breaking a multi-month downtrend and reaching a 3-month high of $0.85. At the time of writing, FET is trading at $0.8476, representing a 9.10% jump in 24 hours. This follows a period of trading below $1, after peaking at $2.2 in December 2024.

Factors Driving FET's Surge

This price upswing is fueled by several factors:

• Increased Network Activity: Daily Active Addresses have surged to a 2-month high of 1.3K, and Network Growth has spiked to 398, levels last seen in March. This indicates growing adoption and usage of the FET network.
• Strong Accumulation by Whales and Retail Investors: Analysis shows significant buying pressure from both large investors (whales) and retail traders. Whales accumulated 21.2 million FET tokens in the past day, resulting in a positive capital inflow of 8.11 million tokens. Retail investors also showed strong buying activity, with 4.4 million tokens purchased, demonstrating a positive delta of 989k. This substantial accumulation suggests strong confidence in FET's future price.

The charts below illustrate these trends:

Source: Santiment

Source: Coinalyze

Source: IntoTheBlock

Will FET Reach $1?

The combination of increased network activity and strong buying pressure from both retail and institutional investors suggests a bullish outlook for FET. The rising Stock-to-Flow Ratio further points to increasing scarcity, which could support price appreciation. This is demonstrated by the chart below:

Source: Santiment

FET could potentially break above $1 and even reach $1.20. However, a potential risk is profit-taking by holders who entered at higher prices, which could lead to a retracement to $0.73. Careful consideration of risk is advised.

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