Why Did CATI Continuously Decrease in Price After Listing on the Exchange?
đ Airdrop Sell-off: Over 430 million tokens were distributed to thousands of users, leading to an immediate sell-off and causing the token price to drop 53% from its all-time high.
đ Airdrop Distribution Issues: A large portion of the airdropped tokens was allocated to major partners and early investors, leading to dissatisfaction and a loss of trust in the team's transparency.
đ Market Speculation: Initial price expectations were based on a total supply of 1 billion tokens, but the actual supply is significantly higher, causing disappointment among buyers and reducing value.
đ Uncertain Lock-up Period: The unexpected lock-up of 20% of tokens triggered further sell-offs, as users lost interest in holding the token for an extended period.
Price Prediction:
đč Support Level: Immediate support is at $0.4369. If this level breaks, the price could drop to $0.40.
đč Resistance Level: Current resistance is at $0.55, marking the upper boundary of the current trading range.
Market Capitalization Outlook:
The market capitalization of Catizen is currently $205 million, significantly lower than initial predictions. Market sentiment remains bleak following the large post-TGE sell-off, unless we see a substantial shift in investor confidence.
Price Is Acting Strongly â Pay attention to liquidity zones at key milestones, as they can help you manage risk effectively.
