ACT has sold off after an initial post-listing rally.
The ACT decline followed a 124% surge within three days.
Analysts attribute ACT’s selloff to profit-taking by pre-launch participants.
The new Solana-based, AI-focused ACT coin has disappointed many users after an early selloff following its recent listing on centralized exchanges (CEX). ACT launched in October 2024 before listing on Binance, HTX, and KuCoin, among many other platforms.
TradingView’s data show that ACT surged significantly shortly after the CEX listings before making a U-turn, which saw the newly launched crypto lose nearly all the recent gains. The crypto coin’s quick decline left many users questioning what could be behind the drop, especially in a season when the overall crypto market is heading upward.
ACT’s Price Action and Analyst Interpretations
In the meantime, historical data shows that ACT surged 124% between November 12 and 15, rising from $0.42648 to $0.95456. However, the crypto token turned around when users expected it to achieve the psychological $1 milestone and align with the crypto market’s bullish momentum.
ACT has declined 54% after achieving the $0.95…
The post ACT Coin Plunges After CEX Listing: What’s Behind the Sell-Off? appeared first on Coin Edition.
