#SKATE
SKATE, this new coin launched on the 9th, has experienced many fluctuations. A significant drop right after launch has become the norm for new coins. Keep a close eye on Yuanbao, and aim precisely!
What is SKATE?
In simple terms, SKATE coin is the token of the Skate project, which aims to combine skateboarding culture with blockchain technology and provide rewards and NFT functionalities.
Analysis of the reasons for the drop in SKATE coin after its launch on June 9 (from the perspective of a crypto veteran)
1. Good news fully priced in, retail investors getting squeezed
Before the launch, Binance Alpha announced the listing, causing pre-market trading to surge by 33% to $0.2, a classic case of “good news driving the price up,” attracting retail investors to FOMO in.
As a result, after the TGE (Token Generation Event) on June 9, it opened high but quickly fell, a classic case of “buy the expectation, sell the fact,” as the operators took advantage of the hype to sell off and cash out, leaving a mess behind.
2. Market drag, geopolitical black swans
On June 13, Israel launched airstrikes on Iran, causing BTC to drop by 2.3% in one day, and altcoins were collectively slaughtered, with SKATE dropping to a low of $0.032 (historical low), small coins being the first to suffer in a liquidity crisis.
The crypto world entered “Risk Off” mode, with funds flowing back into BTC for safety, and SKATE, as a new coin, became a victim.
3. Airdrop selling pressure, early players dumping
Binance and Bybit organized airdrop events before the launch, giving away 10% of tokens for free, leading to instant selling by opportunists, causing supply to explode.
Community sentiment shifted from “To the Moon” to “Rug Pull,” and influential Twitter accounts began proclaiming “Skate is dead,” spreading panic.
Summary: This wave for SKATE is a typical case of the “new coin curse” — peak right after launch, with a triple blow from operators + airdrop participants + market crash. In the short term, unless the project team does something significant (like a partnership with Nike for skateboarding NFTs), it will be hard to escape the “zeroing out” path. Friends, should we bottom fish? Let’s wait until BTC stabilizes at 100,000 before talking!
Keep a close watch on Yuanbao @Square-Creator-c4f2503d37cc , get on board and enjoy the gains,
