As the Decentralized Physical Infrastructure Network (DePIN) sector gains traction, November 2024 presents an opportunity for investors to capitalize on emerging altcoins in this space. These altcoins have been disrupting the crypto market by merging blockchain technology with real-world applications.

Given this trend, it seems these cryptos may continue to surge in popularity. Here are five top DePIN altcoins that investors should watch in the coming month.

Bittensor (TAO)

At the top of this list of DePIN altcoins is Bittensor, the open-source protocol that powers a decentralized, blockchain-based machine-learning network.

Bittensor’s native token, TAO, has decreased by 15% in the last 30 days, trading at $510.86. At some point in the year, the altcoin’s value was close to $800. Therefore, the recent decline suggests that TAO might have presented a buying opportunity.

On the daily chart, TAO’s price is below the 20-day Exponential Moving Average (EMA), in blue. However, the same token has yet to fall below 50 EMA (yellow). By the look of things, it is unlikely to drop below this threshold, indicating that TAO’s price might jump toward $681.85 in November.

However, this forecast might not come to pass if the DePIN altcoin drops below the 50 EMA. In that scenario, TAO might sink to $397.32.

Filecoin (FIL)

Filecoin is another altcoin in the DePIN sector to watch out for in November 2024. As the native token of the decentralized storage system, FIL has hovered around $3 and $4 for the last 30 days. 

Further, it appears that this token is largely undervalued, as it is well below its yearly high. However, the daily chart shows that FIL’s price h

Go to Source to See Full Article
Author: Victor Olanrewaju