Why did $DEGO drop sharply?

DEGO (DEGO Finance) has decreased by over 43% in 24 hours, from a price range of 2.789 USD to 1.43 USD, with a recorded low of 1.286 USD. Below are some possible reasons that could explain this sudden price drop:

🧨 Possible reasons

Large-scale sell-off (Whale Dump)

Data from the charts and a surge in trading volume suggest that a large wallet (or group of investors) may have taken profits, causing a widespread sell-off effect.

No positive news support

DEGO has had few notable updates on products or partnerships recently, making the previous upward momentum unsustainable.

Pump & Dump cycle

The chart shows that the most recent price increase occurred quite rapidly and steeply, easily leading to profit-taking behavior from speculative groups.

Market assessment & next expectations

🧭 Short term (1-7 days)

Pessimistic sentiment prevails with a shock drop >40%.

A consolidation zone may form around 1.3–1.5 USD, as bottom-fishing orders appear.

However, if it breaks below 1.28 USD, it may continue to drop below 1.1 USD.

🔍 Medium term (30 days)

The price will depend on the project's ability to launch new products or positive news.

If there is no new momentum, the likelihood of DEGO returning to the nearest peak (~2.7 USD) is low.

🔒 Disclaimer

This article is for informational purposes only and should not be considered investment advice. All trading decisions carry risks, and users must take responsibility for their own decisions.