The GAL token will change its ticker to G and increase its emission by 60 times. From 200 million to 12 billion. At the same time, existing tokens will be converted in a ratio of 1:60. That is, the holders will not lose anything; in fact, we are talking about an analogue of a split (fragmentation) of shares.
It also stated that “The Proposal included a number of technical improvements, coordination with strategic ecosystem stakeholders, and planning for a smooth transition process. Key aspects included changes to the code base, adjustments to the identification study and communication strategies for various stakeholder groups.”
The#GALprice did not react to the news, it continues its correction after growing by +550% after growing since June 2023. During the April correction, the 0.5 Fibonacci level of this growth was tested twice and so far the price is above the 0.618 level. We will consider that the correction is complete as long as the price remains above the EMA of the 50 day TF (currently $4.187). Although the price on the decline after the “Expensive” signal on the weekly TF has not yet tested the EMA 50 of the weekly TF (currently $2,650). Both the weekly RSI and MACD do not look very good for growth.
If we try to disturb the movements of an asset, we get a picture like the one on the screenshot. The price is in the fourth corrective wave and if the downward trend is broken on March 26, there is a possibility that the fifth and final wave of growth will start.