TAO token jumped over 9% to $433.5 as Nasdaq-listed firms Synaptogenix and Oblong announced major buy plans.
By Parth Dubey
Editor Hamza Tariq
Updated
3 mins read
Bittensor’s native token, TAO TAO $402.0 24h volatility: 4.8% Market cap: $3.54 B Vol. 24h: $131.40 M , rose over 9% on Tuesday to trade around $433.5. It has also seen a sharp rise in its trading volume that crossed $180 million, more than double from the previous day.
The rally follows two major TAO treasury announcements from Nasdaq-listed companies, Synaptogenix and Oblong.
On Monday, Synaptogenix disclosed plans to initially purchase $10 million worth of TAO, a notable move given it exceeds the firm’s current market cap. The company also laid out a long-term vision to scale its TAO holdings to $100 million.
Last week, Oblong, an IT services company, announced it would raise $7.5 million through a private stock offering to acquire TAO tokens.
On the daily TAO price chart, the RSI is currently sitting around 56.7, suggesting strong strength. It has not yet entered the overbought region, a sign of potential room for continued upside.
TAO daily chart with RSI and Bollinger Bands | Source: Trading View
Bollinger Bands show the price decisively breaking above the midline (20-day SMA), with candles now approaching the upper band. This implies increasing volatility and a bullish bias. The middle band at $411.0 and lower band at $352.3 now act as support levels.
Meanwhile, the MACD is on the verge of a bullish crossover. The MACD line is crossing above the signal line from below, reinforcing the upward trend.
TAO daily chart with MACD | Source: Trading View
It is interesting to note that TAO appears to be completing a “cup and handle” formation. The “cup” spans from December 2024 to May 2025. The price has recovered from lows of ~$160 and is now aiming to test the $480 resistance.
Cup and handle formation on TAO daily chart | Source: Trading View
The recent consolidation in the $360–$480 zone forms the potential “handle.” A breakout above $480 could validate the pattern and potentially push TAO toward $800. However, the cryptocurrency could face major resistance around $680-$700.
Renowned crypto analyst Pedro Teixeira recently stated on X that TAO is the “only” project that has the potential to get to the level of Bitcoin. “Top 3 is inevitable,” he added.
$TAO is the only project that has the necessary ingredients To get to the level of $BTC. Top 3 is inevitable https://t.co/Sh9G1a2RR4
— Pedro Teixeira (@Pedrot14crypto) June 9, 2025
Notably, TAO currently ranks 31st among all cryptocurrencies by market capitalization, standing at $3.82 billion.
While TAO continues to gain momentum, Snorter Token ($SNORT), a new contender in the crypto utility sector, is attracting major attention. The platform is powered by the Telegram-based Snorter Bot, designed for sniping and trading meme coins on Solana SOL $159.9 24h volatility: 2.4% Market cap: $84.09 B Vol. 24h: $5.75 B .
Snorter Bot has already raised over $650k in its presale, with only one day left before the next price increase.
The Snorter Bot offers real-time scam detection with an impressive 85% accuracy against rug pulls and honeypots. Its utility token, $SNORT, provides several benefits, including reduced trading fees (0.85% compared to the standard 1.5%), staking APYs exceeding 487%, and access to exclusive community airdrops.
Users can directly snipe, trade, copy strategies, and manage portfolios within Telegram, eliminating the need for external browsers or tools. The ongoing presale, which spans 60 stages, currently prices $SNORT at $0.0947, presenting substantial opportunities for early adopters.
$SNORT Details:
Early investors can participate in the presale using wallets such as Phantom or directly through the Telegram bot.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
