Bittensor’s TAO token is consolidating around $184 after a volatile week. Analyst NeilXbt suggests a breakout could target $220, while recent supply growth is attributed to scheduled network emissions. On-chain data indicates accumulation, with TAO moving off exchanges and staking participation increasing.
Bittensor (TAO) is trading at $183.96, posting a 3.13% daily gain despite a 35.7% drop in 24-hour trading volume to $81.91 million, according to CoinMarketCap. The token has declined 4.47% over the past week, reflecting broader market volatility.
Market analyst NeilXbt notes that TAO could reach $220 this week, citing technical signals of consolidation. The token has been recovering within a key range between $178 and $190 after a corrective phase from a peak near $280.
A strong buying reaction around the $142 demand zone indicated potential institutional accumulation. Price action suggests market indecision, with a breakout above $190–$200 potentially targeting $220.
Concerns about TAO supply rising are tied to scheduled emissions within the network’s design, not unexpected dilution. These emissions reward validators and contributors while remaining within the fixed 21 million token cap.
On-chain data shows TAO moving off exchanges into private wallets and staking participation increasing. Analysts interpret these trends as evidence of strategic accumulation by long-term investors.
Bittensor is a decentralized AI-powered blockchain marketplace where machine learning models compete for rewards. The token’s recent listing on South Korea’s largest exchange, Upbit, has expanded its market access and visibility.
