Why Is WCT’s Price down? 📉
WalletConnect Token (WCT) is down 6.47% in the last 24 hours. Here’s the main factors:
🔹 Profit-Taking After Airdrop:
WCT was going up "276%" in May due to a Solana airdrop, but now traders are cashing out, keeping the price "69% below" from its all-time high.
🔹 Weak Technicals:
Key indicators like "MACD & RSI" show bearish momentum and indicating that price falling below critical support levels.
🔹 Altcoins Under Pressure:
Bitcoin’s dominance increase to "63.28%", pulling liquidity away from altcoins like WCT.
"What’s Next?"
If market sentiment improves and WalletConnect fulfills its planned upgrades, we could see a rebound. But for now, caution prevails.