- Crypto analyst CryptoBusy predicts a price surge for Render (RNDR) due to its low supply and deflationary mechanism.
- RNDR, with its limited 600 million tokens and burning mechanism, is entering a demand zone, suggesting a potential price increase.
- CryptoBusy sees RNDR’s strong tech foundation and market demand positioning it for long-term growth among top 50 altcoins.
CryptoBusy, 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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Understanding Render’s Network
Render Network 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 established OTOY, 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.
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 Decentralized Physical Infrastructure Networks (DePIN).
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.
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