My experience with $BOMB and $CATI from the Catizen project: A small gain followed by a painful collapse.
After following the hype of GameFi projects, I finally decided to try the CATI and BOMB coins from the Catizen project... and the result? A small profit followed by a painful experience.
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š My experience with $CATI
I spent over 10 dollars in-app to get CATI.
I managed to collect only 2 pieces of CATI!
CATI was launched at a high price reaching $0.75, then collapsed quickly.
Currently, the price of CATI is approximately $0.075, a drop exceeding **90%**.
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š£ My experience with $BOMB
I spent months playing 'Bombie' on Telegram, only to finally get 50 pieces of BOMB.
BOMB was launched at a price of $0.008 as set by Binance/KuCoin.
During the first 24 hours, the coin saw an immediate drop of 40% or more, and players' losses from their investment sometimes exceeded **90%**.
š Why did the collapse happen?
1. Centralized coin distribution: The majority was in the hands of the Catizen team, allowing them for quick exits.
2. Collective selling coincided with the launch: The massive sell-off immediately affected the liquidity and price of the two coins.
3. Lack of real use and buying pressure: No supporting central exchange and no ongoing functions for the coins in the game.
4. A project that did not commit to its plans: The whitepaper acknowledged ongoing delays and setbacks in coin distribution.
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Do you have personal experience with Catizen? Share with us how much you earned or lost š
Are you planning to go through a similar experience? And why do you think so?