Token #BURNGMT #BinanceMEOpening #MOVEOpening #MicroStrategyAcquiresBTC #AmazonBitcoinMove Ethereum Layer-2 Movement ($MOVE) is showing a steep correction after its launch on Binance on Monday and subsequent Tier 1 listings.
The MOVE coin reached a new all-time high of $1.40 after being listed on Coinbase. However, profit-taking and concerns about unexpected fees in airdrop statements led to a decline, and now the token is trading more than 50% below its all-time high.
Investors sitting on the sidelines are unsure whether to buy the dip or move to micro-cap memes that have provided significantly better returns than L2 coins during this bull cycle.
For example, smart money investors are expecting a 100-fold return from Crypto All-Stars, a new meme coin set to launch in December.
Is the price drop of Movement a buying opportunity?
The new viral L2 coin Movement wiped out much of its gains after the launch on Binance on Monday. Starting from a listing price of $0.20, the MOVE price reached $1.40, showing an astonishing 7-fold increase.
The rally was driven by listings on Tier-1 CEX exchanges, including Binance, Coinbase, and the South Korean exchange Upbit.
However, MOVE is currently trading at $0.68 with a market capitalization of $1.5 billion, which is nearly 51% below its all-time high.
