Big G analysis: Why did WCT suddenly rise by 24% today?
Brothers, WCT's surge today went straight to trending! What's going on? I stayed up all night digging into some key points; let’s talk about some real stuff.
New exchanges are crazily listing to create momentum
Today, WCT was suddenly announced to be listed by two second-tier exchanges, one of which even held a deposit lottery event. Although it can't compare with top exchanges like Binance, it doesn't stop retail investors from following the trend! Moreover, the residual heat from Upbit's previous hype is still there, and retail investors jumped in blindly.
Big players secretly buying the dip
On-chain data shows a mysterious address swept up 2 million dollars worth of WCT three days ago, pushing the cost price down to around 0.4 dollars. Today's surge just hit above their cost line, clearly indicating they are up to something. Plus, the circulating supply is only 180 million tokens, so big players can easily control the market with a little cash.
Ecosystem launches satellites and paints big pictures
The team tweeted early this morning that they will be working on a cross-chain payment protocol, and also threw out a smokescreen about collaborating with a certain metaverse project. Although I haven’t seen any specific details, meme coin players are all in for this! Anyway, let’s push first and discuss the implementation later.
Shanzhai season end market continues
BTC has been consolidating these past few days, and funds are flowing back into altcoins for quick gains. You can see that the adjacent meme coin sector has averaged a 15% increase, and WCT, as an older project with a real ecosystem (at least better than meme coins), has naturally been taken as a safe haven.
What’s the outlook for the market?
Short-term reaching 0.6-0.7 is not a big issue (near the April high), but be careful as the team still has 30% of tokens locked up, with a private placement unlocking at the end of May. Watch out for them dumping and running away. If it can stabilize at 0.65 dollars, who knows, it might even touch 1 dollar, but the probability is about the same as winning the lottery.
Big G's suggestion
If you’ve made over 20% in spot trading, you can take profits in batches; contract traders should never hold their positions. This coin's market control is too strong; one needle can push you back to the starting point! If you really want to trade, use a small position for practice, don’t lose your wedding money!
If you're feeling helpless and confused about trading right now, and want to learn more about the crypto world and get first-hand up-to-date information, click on my avatar to follow my introduction. Don’t get lost in this bull market!
