Render

2024

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<ul>
 <li>Crypto analyst CryptoBusy predicts a price surge for Render (RNDR) due to its low supply and deflationary mechanism.</li>
 <li>RNDR, with its limited 600 million tokens and burning mechanism, is entering a demand zone, suggesting a potential price increase.</li>
 <li>CryptoBusy sees RNDR’s strong tech foundation and market demand positioning it for long-term growth among top 50 altcoins.</li>
</ul>
<a href="https://x.com/CryptoBusy" rel="noopener noreferrer nofollow">CryptoBusy</a>, a crypto analyst on X, is forecasting a notable price increase for Render Network (RNDR), a token backed by a unique blend of attributes. These include a deflationary mechanism, low supply, and rising demand, painting a promising future for this altcoin.
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 <a href="https://twitter.com/hashtag/Render?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Render</a>, the so called NVDIA of Crypto has entered the DEMAND ZONE<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2757.png" alt="❗" class="wp-smiley" style="height: 1em; max-height: 1em;"> Are whales ready to buy? Let's review its potential! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f538.png" alt="🔸" class="wp-smiley" style="height: 1em; max-height: 1em;">What is <a href="https://twitter.com/rendernetwork?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@rendernetwork</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f538.png" alt="🔸" class="wp-smiley" style="height: 1em; max-height: 1em;">Technical Analysis <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f538.png" alt="🔸" class="wp-smiley" style="height: 1em; max-height: 1em;">Can <a href="https://twitter.com/search?q=%24RNDR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$RNDR</a> remain in the top 50 coins? <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f538.png" alt="🔸" class="wp-smiley" style="height: 1em; max-height: 1em;">Other AI gems in the GPU sector <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/JrbEhHJu3c" rel="noopener noreferrer nofollow">pic.twitter.com/JrbEhHJu3c</a>— CryptoBusy (@CryptoBusy) <a href="https://twitter.com/CryptoBusy/status/1802667413714129390?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 17, 2024</a>
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Understanding Render’s Network
<a href="https://rendernetwork.com/" rel="noopener noreferrer nofollow">Render Network</a> is a distributed GPU rendering network that operates on Ethereum and Solana. It offers unlimited decentralized GPU computing power, essential for creating next-generation 3D and 4D content.
Founded by Jules Urbach, who also <a href="https://cryptonewsland.com/render-network-stability-ai-otoy-and-endeavor-forge-groundbreaking-alliance/" rel="noopener noreferrer nofollow">established OTOY</a>, the network is well-integrated within the digital creation ecosystem. Notably, OTOY supplies Apple’s MAC products with the OctaneRender VFX software, enhancing Render’s credibility in the industry.
Token Supply and Deflationary Mechanism
One of the critical points CryptoBusy highlights is RNDR’s limited supply of 600 million tokens. Compared to many other tokens with a supply nearing one billion, RNDR’s lower quantity positions it favorably in the market.&nbsp;
Additionally, RNDR incorporates a burning mechanism into its protocol, making it a deflationary asset. This combination of a low supply and a deflationary model could naturally lead to a price increase as demand continues to grow.
Price Analysis and Trading Strategy
CryptoBusy’s trading analysis reveals that RNDR is currently entering a demand zone, a historically significant buying area for traders. The analyst identified crucial support levels for RNDR, suggesting that traders consider a dollar-cost averaging (DCA) strategy, especially since RNDR’s price is currently at a 45% discount from its All-Time High (ATH).
Moreover, the 618 Fibonacci level is seen as a significant support and entry point for RNDR. Should the token rebound at this level and break past its current ATH, CryptoBusy predicts a potential price discovery phase, with targets set between $15 and $19.
Long-Term Potential and Market Position
From a broader perspective, CryptoBusy believes RNDR has the potential to remain within the top 50 altcoins. This optimism is based on RNDR’s alignment with key narratives in AI, GPU, and <a href="https://cryptonewsland.com/render-aioz-akash-and-filecoin-top-4-depin-crypto-projects-revolutionizing-decentralized-physical-infrastructure-in-2024/" rel="noopener noreferrer nofollow">Decentralized Physical Infrastructure Networks (DePIN)</a>.&nbsp;
The crypto community often compares RNDR with NVIDIA, a major AI-focused stock that experienced an 800% surge over two years. This comparison underscores RNDR’s potential to follow a similar growth trajectory.
<h4 class="wp-block-heading" id="h-read-also">Read also</h4>
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 <li><a href="https://cryptonewsland.com/when-will-rndr-surpass-the-50-milestone-an-overview/" rel="noopener noreferrer nofollow">When Will RNDR Surpass the $50 Milestone? An Overview</a></li>
 <li><a href="https://cryptonewsland.com/rndrs-unstoppable-trajectory-to-secure-top-10-crypto-market-cap-spot/" rel="noopener noreferrer nofollow">RNDR’s Unstoppable Trajectory to Secure Top 10 Crypto Market Cap Spot</a></li>
 <li><a href="https://cryptonewsland.com/rndr-announces-nvidia-partnership-amid-price-surge-new-ath-soon/" rel="noopener noreferrer nofollow">RNDR Announces Nvidia Partnership Amid Price Surge, New ATH Soon?</a></li>
 <li><a href="https://cryptonewsland.com/unlocking-future-fortunes-3-low-supply-tokens-set-to-skyrocket-in-2024-rndr-akt-and-cel/" rel="noopener noreferrer nofollow">Unlocking Future Fortunes: 3 Low Supply Tokens Set to Skyrocket in 2024 – RNDR, AKT, and CEL</a></li>
 <li><a href="https://cryptonewsland.com/apple-and-render-network-celebrate-milestone-rndr-rendering-solution-octane-x-is-the-pro-rendering-app-on-latest-ipad-pro/" rel="noopener noreferrer nofollow">Apple and Render Network Celebrate Milestone, RNDR Rendering Solution Octane X Is the Pro Rendering App on Latest iPad Pro</a></li>
</ul>
The post <a href="https://cryptonewsland.com/renowned-crypto-analyst-predicts-significant-price-surge-for-render-network-rndr/" rel="noopener noreferrer nofollow">Renowned Crypto Analyst Predicts Significant Price Surge for Render Network (RNDR)</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Renowned Crypto Analyst Predicts Significant Price Surge for Render Network (RNDR)

Crypto News Land

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