Bittensor (TAO) has surged 10% to around $254.86, driven by bullish signals, despite facing significant accusations regarding centralisation and tokenomics flaws. A falling wedge breakout may suggest a rise toward $400. Yet, concerns over governance structures and liquidity persist, with an analyst predicting a future target price of $1,330 if momentum sustains. Investors should remain vigilant given ongoing controversies.
Bittensor (TAO) has experienced a notable 10% increase, regaining support at the 20-day Exponential Moving Average (EMA). This rise is attributed to positive technical indicators, despite ongoing controversies about its decentralisation. A breakdown of a falling wedge formation suggests a potential rally towards $400 if the current momentum persists, although the token currently trades around $254.86 after achieving a peak of $259.68 within 24 hours.
Analyst Thinking Weird has sharply criticised Bittensor, labelling it a centralised project influenced by venture capitalists, arguing that the governance structure of “Three Giants + Senate” creates an insular environment dominated by insiders. With 62.5% of TAO tokens reportedly owned by internal members, concerns about the project’s decentralisation arise while its market cap stands at $2.34 billion.
Meanwhile, fundamental technical patterns indicate potential bullish behaviour for TAO. The asset reclaimed the 20-day EMA at $237 and showed promising indicators such as increasing volume and a Relative Strength Index (RSI) around 55. A break above resistance levels of $280 to $300 could catalyse a significant surge in price, with predictions suggesting a medium-term target of $1,330 per token, based on the emergence of a double bottom W pattern.
However, if TAO fails to maintain the $237 level or momentum wanes, it could revert to the $200 level or fall back to the $180–$190 support zone. Concerns have been raised regarding the dTAO upgrade, which appears to negatively impact liquidity for the ecosystem and disproportionately advantage validator nodes while restricting subnet owners’ abilities.
Despite these criticisms, the allure of the TAO token remains strong among traders, as its recent surge, ongoing developments, and technical chart formations suggest significant market interest. Investors are urged to proceed with caution, given the mixed messages emerging from both price movements and governance allegations in the Bittensor project.
