Can RNDR continue its climb?
Key Takeaways
- RENDER has risen more than 1,000% in 2023.
- Render successfully completed its migration to Solana.
- One Render Token price prediction says it can reach $12.46 in 2025.
- What’s next for the Render Token?
The Render Token has had a busy few months, with its move to the Solana (SOL) blockchain complete and the moved crypto enjoying new listings.
However, there has been some volatility in early 2024, so investors will be hoping it can get back up to its late December heights and continue to thrive.
Furthermore, Render Token’s RNDR has just been renamed into RENDER.
On August 7, 2024, RENDER was worth $4.85.
Render did not respond to a request for comment.
Let’s now take a look at our Render Token price prediction. We’ll also examine the Render Token price history, and explain a little about what Render Token is and what it does.
Render Token Price Prediction
Let’s examine some of the Render Token price predictions being made by CCN on August 7, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate.
| Minimum RENDER Price Prediction | Average RENDER Price Prediction | Maximum RENDER Price Prediction | |
|---|---|---|---|
| 2024 | $4.32 | $10.13 | $10.51 |
| 2025 | $10.37 | $11.69 | $12.46 |
| 2030 | $32.56 | $34.91 | $36.13 |
Render Price Prediction for 2024
If the positive momentum continues and RENDER breaks above its moving averages, it could reach targets between $4.32 and $10.51 by the end of 2024, with the average price set at $10.13.
Render Price Prediction for 2025
Technical analysis suggests a potential increase for Render Token in 2025. The minimum RENDER price expected for 2025 is $10.37 while the maximum one is $12.46. On the other hand, the average forecast suggests it may reach $11.69.
Render Price Prediction for 2030
Based on technical analysis, the RENDER token may reach a maximum level of $36.13 at the beginning of the next decade, while, in the worst scenario, it may go to $32.56. Meanwhile, the average expected price is $34.91.
Render Price Analysis
Render’s technical indicators present a mixed picture. The Relative Strength Index (RSI) stands at 52.447, indicating neutral momentum in the market. However, the Stochastic Oscillator (STOCH) shows a value of 100, suggesting that Render is currently overbought and might be due for a price correction. On the other hand, the Stochastic RSI (STOCHRSI) is at 0, signaling that Render is oversold, potentially presenting a buying opportunity.
The Moving Average Convergence Divergence (MACD) is at 0, pointing to a neutral market sentiment with no clear buy or sell signals. Similarly, the Average Directional Index (ADX) stands at 0, reflecting a neutral trend strength and no significant directional movement.
The Williams %R indicator is at 0, indicating that Render is overbought and might face downward pressure soon. The Commodity Channel Index (CCI) also reads 0, suggesting neither overbought nor oversold conditions. Lastly, the Average True Range (ATR) shows a value of 0, indicating high volatility in Render’s price movements.
Short Term Render Price Prediction
The Render price prediction for the next 24 hours sees the token rise by 6%. Meanwhile, it is expected to increase by 235% in the next month, reaching $16.52 by September 6, 2024.
Despite this optimistic forecast, current technical indicators suggest a bearish sentiment, and the Fear & Greed Index is showing a score of 29, indicating fear.
Over the past 30 days, Render has recorded 13 out of 30 green days (43%) with a price volatility of 11.37%. Based on these factors, it appears to be a bad time to buy Render.
Render Relative Strength Index (RSI): Is RENDER Oversold or Undersold?
Render Price Performance Comparisons
How Do We Make a Render Price Prediction?
Our price prediction for Render combines technical analysis tools and recognizes the logic in price cycles. We’ve primarily used the Elliott Wave Principle, which describes these price movements in their motive and correction phases. Applied to the Render-specific time-frames and its price history, we can come up with the targets, although the further we project, the less accurate they are because they depend on what happens in between.
Best Days and Months to Buy Token
We took a look at Render Token price history and found the times when the price was at its lowest across certain days, months, quarters and even weeks in the year, suggesting the best times to buy RENDER.
| Day of the Week | Wednesday |
| Week | 13 |
| Month | March |
| Quarter | First |
RENDER Price History
Following that, let’s now take a look at some of the key dates in the Render price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting a Render price prediction.
Render Historical Price Data
| Period | Render Token Price |
|---|---|
| Last Week (July 31, 2024) | $5.9123 |
| Last Month (July 7, 2024) | $6.7154 |
| Three Months Ago (May 7, 2024) | $9.9463 |
| Last Year (August 7, 2023) | $1.63 |
| Launch Price (June 12, 2020) | $0.05575 |
| All-Time High (March 15, 2024) | $11.87 |
| All-Time Low (June 12, 2020) | $0.05575 |
Render Market Cap
The market capitalization, or market cap, is the sum of the total number of RENDER in circulation multiplied by its price. On August 7, 2024, Render’s market cap was $1.91 billion, making it the 40th largest crypto by that metric.
Who Owns the Most RENDER?
On August 7, 2024, one wallet held 0.05% of the supply of Render Token.
Richest RENDER Wallet Addresses
As of August 7, 2024, the five wallets with the most RENDER were:
- 0xd6c17bcc364c3a5c0f3c4eada5ce8e5213b62c3b. This wallet held 252,117 RENDER, or 0.05% of the supply.
- 0xc4c06c9a239f94fc0a1d3e04d23c159ebe8316f1. This wallet held 106,976 RENDER, or 0.02% of the supply.
- 0x7b521d0d16b0b68dc49f09f5900eeeb9011c68fc. This wallet held 98,023 RENDER, or 0.02% of the supply.
- 0x95d2483d2a0fff034004f91c53d649623d993896. This wallet held 78,379 RENDER, or 0.01% of the supply.
- 0x7aa499d7601aa3fb2d366757541aad9cfc1e2a7e. This wallet held 40,079 RENDER, or 0.01% of the supply.
Render Supply and Distribution
| Supply and distribution | Figures |
|---|---|
| Total supply | 532,219,655 |
| Circulating supply (as of August 7, 2024) | 392,459,381 (60% of total supply) |
| Holder distribution | Top 10 holders owned 0.15% of supply, as of August 7, 2024 |
From the Render Whitepaper
In its technical documentation, or whitepaper , Render says it wants to make creating graphics on the blockchain easier.
It says: “The Render Network is a high-performance distributed GPU rendering network that leverages industry-leading OTOY Inc. software to facilitate a compute marketplace between GPU Providers and GPU Requestors.”
What Is Render?
The Render Network’s purpose is in its name. The system allows people to create their own video game graphics on the blockchain.
It links people who want to render graphics to people who have spare graphic processing units (GPUs) on their computers.
As the system’s website says: “The future is being built today and hardware limitations should not be what keeps you from being a part of the new digital renaissance. Render puts the power of GPU rendering at your fingertips, at a fraction of the cost and speed of in-house rendering.”
The platform was originally based on the Ethereum (ETH) blockchain. In April 2023, however, a vote of holders saw it move to the Solana (SOL) blockchain, a process that was completed in November last year.
The RENDER token supports the Render Network.
How Render Works
The Render Network uses smart contracts, computer programs that automatically execute once certain conditions are met, to ensure standards.
The project consists of three major components working together
- Creators, who purchase services using RENDER.
- Node operators, who help supply GPU power in return for RENDER..
- Octane Render, which creates graphics.
In terms of RENDER itself, it pays for transactions on the network. RENDER holders can vote on changes to the platform. People can also buy, sell, and trade it on exchanges.
Because Render is not based on its own blockchain, it is a token, not a coin. It was a token when it was on Ethereum and it remains so on Solana. Therefore, while you might come across references to such things as a Render coin price prediction, these are wrong.
Is Render a Good Investment?
It is hard to say. RENDER has been a pretty solid performer over the course of the year, avoiding the worst of potential crypto crises. It will be interesting to see whether the iPhone 15 can lead to new developments for the platform.
On the other hand, RENDER is still down from where it was earlier in the year and is a long way from threatening its all-time high.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in RENDER.
Will Render go up or down?
No one can really tell right now. While the Render Token crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Should I invest in Render?
Before you decide whether or not to invest in Render, you will have to do your own research, not only on RENDER, but on other coins and tokens, such as Polkadot (DOT). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
FAQs
Will Render reach $10?
It might do, as technical analysis suggests it may reach that level this year.
Keep in mind that RENDER has already traded above $10.
What is Render used for?
The RENDER token helps support the Render Network. It pays for transactions on the Render Network. People can also buy, sell, and trade RENDER on exchanges.
Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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