WalletConnect Token (#WCT ) has sharply dropped by **42%** in just one day, and here are the main reasons for this collapse:
1. **Panic Selling** – after a rapid rise from **$0.20 to $1.39**, many early investors began to take profits en masse, leading to a sharp decline in price.
2. **High Sales Volume** – on the largest Korean exchange **Upbit**, the trading volume of WCT/KRW reached **$558 million**, signaling a mass exit of investors.
3. **Lack of New Fundamental Factors** – the WalletConnect team has not provided any updates that could support the token's price, which has intensified negative sentiment.
4. **Technical Analysis** – after the parabolic rise, there was a classic "blow-off top," when the price sharply drops after reaching a peak. Currently, #WCT is holding around **$0.61**, but if the support level does not hold, further decline to **$0.40** or even $0.20 is possible.
