$WCT dropped 9.94% in 24 hours due to profit-taking after recent catalysts, weak technicals, and broader altcoin weakness.
Profit-taking after Solana integration hype and airdrop claims
Bearish technical signals (RSI 28.64, below key moving averages)
Market-wide risk-off shift with BTC dominance rising to 61.2%
Deep Dive
1. Primary Catalyst: Post-Event Sell Pressure
Binance completed WCT’s Solana integration on July 10 , enabling deposits/withdrawals
Followed by a 5M WCT airdrop claim for Solana users (Phantom, Jupiter wallets) ending July 14.
Historical pattern: 46% price drop after May 2025 airdrop peak ($1.30 → $0.70) repeated this week
2. Technical Context: Oversold but Weak
RSI7 at 28.64 (oversold) but MACD histogram -0.0045 signals bearish momentum
Price ($0.295) below all key averages:
7-day SMA ($0.3458)
30-day EMA ($0.3501)
Fibonacci retracement shows next support at $0.2936 (July 30 low)
Conclusion
WCT’s drop combines profit-taking from recent network expansions, weak technical positioning, and capital rotating from alts to Bitcoin amid neutral market sentiment.
With 80% of its 1B token supply still locked, can WCT stabilize before September’s staking unlocks?