FET Crypto: Price Surge Potential Amid New Burn Mechanism and Key Breakouts

FET, the cryptocurrency associated with the Artificial Superintelligence Alliance, is experiencing a bullish trend following the announcement of a new Earn-and-Burn mechanism set to launch in December, which will burn up to 100 million tokens. This has already led to a 9.19% price increase, with FET trading at $1.62. The token has broken out of a descending channel and is testing a key resistance level at $1.67. If it surpasses this, a price target of $2.56 is possible. On-chain metrics and rising open interest support a continued bullish outlook, suggesting further price gains.