Nov 4, 2025
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Internet Computer Token Soars 45% After Dfinity’s Caffeine App Launch
Internet Computer's native token ICP soared 45% on Nov. 4, reaching $5.20, marking its highest value since August. This surge followed the announcement of Caffeine, a new AI product by the Dfinity Foundation.
- Caffeine can build applications from scratch and is now open to everyone.
- The app can process prompts in text, images, and code.
According to CoinMarketCap, ICP's trading volume increased by 131% in 24 hours, driven by intraday events.
- Coinglass data shows a 92% increase in open interest to $174 million.
- Futures volume rose 132% to $2.18 billion.
Despite leverage-driven rallies being prone to early corrections, investor confidence remains strong as ICP recorded its highest single-day trading volume since December 2023.
ICP Price Forecast
Currently trading near $5.55, ICP shows resilience after an intraday high of $5.79.
- The upper Bollinger Band suggests potential for continued upside if buying pressure persists.
- RSI at 79.89 indicates overbought conditions but remains bullish if above 65.
- A breakout above $6.00 could lead to a further rise toward $6.75.
- Failure to hold $4.90 could result in a decline towards $4.50.
