Home / Price Predictions / Render Token Price Prediction 2024: RNDR Price Analysis

Render Token Price Prediction 2024: RNDR Price Analysis

Last Updated 22 hours ago
Peter Henn
Last Updated 22 hours ago

Key Takeaways

  • RNDR has risen more than 1,000% in 2023. 
  • Render successfully completed its migration to Solana. 
  • One Render Token price prediction says it can reach $27.80 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. 

On June 12, 2024, RNDR was worth $8.39.

Render did not respond to a request for comment.

But what is Render Token (RNDR)? How does Render work? Let’s see what we can find out, and also take a look at some of the Render Price Predictions that were being made as of June 12, 2024.

Render Token Price Prediction

Let’s examine some of the Render Token price predictions being made by CCN.com on June 12, 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 RNDR Price Prediction Average RNDR Price Prediction Maximum RNDR Price Prediction
2024 $15 $13.60 $17
2025 $19.52 $22.90 $27.80
2030 $10.87 $40 $102.3

Render Token Price Prediction for 2024

If the positive momentum continues and RNDR breaks above its moving averages, it could reach targets between $15 and $17 by May 2024, with the possibility of revisiting its all-time high of $13.60 later in the year.

Render Token Price Prediction for 2025

Technical analysis suggests a potential increase for RNDR in 2025, but keep in mind this is just one perspective. The minimum RNDR price expected for 2025 is $19.52 while the maximum one is $27.80. In the middle, it may reach $22.90.

Render Token Price Prediction for 2030

Based on technical analysis, the RNDR token may reach a maximum level of $102.3 at the beginning of the next decade, while, in the worst scenario, it may drop to $10.87. The average expected price is at $40.

Render Analysis

The technical indicators for Render Token present a mixed picture. While several indicators, such as the MACD and Stochastic Oscillators, suggest caution with overbought conditions and potential sell signals, others indicate buying signals and a strong trend. Overall, while there are signs of bullish momentum, the overbought conditions in some indicators suggest that traders should be cautious and watch for potential price corrections.

The Relative Strength Index (RSI) stands at 52.195, indicating a neutral position. This suggests that the market is neither overbought nor oversold, and the price could move in either direction.

The Stochastic Oscillator (STOCH) is at 81.731, signaling an overbought condition, which suggests that the token might be overvalued and a price correction could be imminent.

RNDR technical analysis
RNDR technical analysis. l Source: Giuseppe Fabio Ciccomascolo/TradingView

The Stochastic RSI (STOCHRSI) is extremely high at 98.153, also indicating an overbought market. This reinforces the possibility of a near-term price decline.

The Moving Average Convergence Divergence (MACD) shows a value of -0.056, which is a sell signal. This suggests that bearish momentum might be increasing.

The Average Directional Index (ADX) is at 23.206, which is a buy signal, indicating a strengthening trend, though it doesn’t specify the direction.

Price/Performance Comparisons

Current Price One Year Ago Price Change
Render $8.39 $1.9267 +352%
Filecoin $5.44 $3.6538 +60%
The Graph $0.2469 $0.09833 +155%
Fetch.ai $1.53 $0.1895 +750%
Render Token price history
Render Token price in 2023 and 2024. | Credit: CoinMarketCap

Render Historical Price Data

Period Render Price
Today (June 12, 2024) $8.39
Last Week (June 5, 2024) $10.6977
Last Month (June 12, 2024) $10.9123
Three Months Ago (March 12, 2024) $11.48
Last Year (June 12, 2023) $1.9267
Launch Price (June 12, 2020) $0.05575
All-Time High (March 15, 2024) $11.87
All-Time Low (June 12, 2020) $0.05575

Who Owns the Most Render Token (RNDR)?

On June 12, 2024, one wallet held 26.72% of the supply of Render Token.

Richest RNDR Wallet Addresses

As of June 12, 2024, the wallets with the most RNDR were

  • 0xb6e39e540e3472e927001bbbf77ffb5ab357b0e0. This wallet held 143,426,940 RNDR, or 26.72% of the supply.
  • 0xf977814e90da44bfa03b6295a0616a897441acec. This wallet held 60,538,129 RNDR, or 11.28% of the supply.
  • 0x3ee18b2214aff97000d974cf647e7c347e8fa585. This wallet held 31,261,992 RNDR, or 5.82% of the supply.
  • 0xbd9a098968d4f7b914259a8c89f5ebbef581df74. This wallet held 11,687,464 RNDR, or 2.18% of the supply.
  • 0xea578aae84b156010b5df7759a08cf6e6d6fc288. This wallet held 7,617,838 RNDR, or 1.42% of the supply.

Fact Box

Supply and distribution Figures
Total supply 532,073,613
Circulating supply (as of June 12, 2024) 388,646,672 (60% of total supply)
Holder distribution Top 10 holders owned 50% of supply, as of June 12, 2024

From the 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 Token?

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 RNDR token supports the Render Network. 

How Render Token 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 RNDR.
  • Node operators, who help supply GPU power in return for RNDR..
  • Octane Render, which creates graphics.

In terms of RNDR itself, it pays for transactions on the network. RNDR 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 – or, worse, a Render Token coin price prediction – these are wrong.

Is the Render Token a Good Investment?

It is hard to say. RNDR 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, RNDR 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 RNDR.

Will the Render Token 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 the Render Token?

Before you decide whether or not to invest in Render, you will have to do your own research, not only on RNDR, 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.

Render Token Attention Tracker

Render Token Google search volume
Render Token Google search volume. | Credit: Google

Here is a chart for the Render Token Google search volume for the past 90 days. This represents how many times the term “Render Token” has been Googled over the previous 90 days. 

FAQs 

How many Render Tokens are there?

As of June 12, 2024, there were 388.6 million RNDR in circulation, out of a total supply of 532.1 million.

Will the Render Token reach $10?

It might do, as technical analysis suggests it may reach that level this year.

Keep in mind that RNDR has already traded above $10.

What is the Render Token used for?

The RNDR token helps support the Render Network. It pays for transactions on the Render Network. People can also buy, sell, and trade RNDR 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.