Is the ASI Token Merger a Buy the Rumor, Sell the News Event?

• FET and AGIX prices drop despite the upcoming ASI token merger announcement.
• Fetch.ai’s FET trading volume surged 36% despite a recent price decline.
• Market analyst Sherpa sees potential for AGIX to rally past its 200 EMA.

Fetch.ai (FET) revealed on Wednesday that its long-awaited ASI token merger with Ocean Protocol (OCEAN) and SingularityNET (AGIX) will commence on July 1st.

However, the initial excitement surrounding this two-phase process appears to have subsided, as both FET and AGIX prices have experienced significant declines following the announcement.

Important news for the https://t.co/kJ9URVpOul and $ASI community: the @ASI_Alliance token merger begins on July 1, 2024. Here’s what you need to know: pic.twitter.com/2idP9fPSNA

— Fetch.ai (@Fetch_ai) June 26, 2024

At press time, Fetch.ai was trading at $1.64, down 3.95% from the previous day. Similarly, Ocean Protocol and SingularityNET have also declined, with OCEAN falling 3.1% to $0.6544 and AGIX decreasing 4.89% to $0.6715, according to CoinMarketCap.

Fetch.ai Price Analysis

Recently, the FET token surged to a new peak of $1.84, eclipsing its previous high of $1.74 set on June …

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