The recent decline in the price of WCT can be attributed to fundamental market dynamics. An initial period of rapid price increase, often referred to as a "pump," likely fueled by speculation and market interest, created an unsustainable value. As the initial pump waned, a subsequent wave of panic selling dominated, triggering a "dump." This occurs when a significant number of investors simultaneously sell their holdings, often driven by profit-taking, panic selling, or the actions of large institutional investors. The absence of countervailing buying pressure or positive market sentiment has worsened the downward trend. In the immediate future, absent significant market intervention or favorable news, the price of WCT is likely to either continue its decline or stabilize at a lower price / support which is not seen at this time. This situation underscores the inherent volatility of the cryptocurrency market and the importance of exercising caution and independent judgment when making investment decisions.
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