The MOVE token price has dropped by 6% in the past 24 hours, with the new ERC-20 coin slipping to $0.694 as the crypto market falls by 13% today.
While MOVE surged immediately upon its listing on December 9, it has since suffered a big comedown, with the alt actually down by 52% in relation to its record of $1.45 (set on December 10).
These losses have come in the wake of its public airdrop, with many of the recipients of MOVE selling their tokens already, dragging down its price.
Yet the coin’s fundamentals, as the native token of the Movement layer-two network, makes it one of the best tokens to buy at the moment.
MOVE Token Is Live as Airdrop Mania Sweeps the Market – Find Out If You Qualify
Eligibility in MOVE’s airdrop was based around whether an individual was active in the coin’s testnet activity, including quests and hackathons.
Testnet users had to be active prior to a November 23 snapshot, while they also had until December 2 to register for the drop.
As such, anyone who didn’t meet this December 2 deadline will be unable to claim any tokens from the drop, which has now already taken place.
The airdrop distributed 10% of MOVE token’s overall supply of 10 billion tokens, meaning that 1 billion MOVE has recently entered the market.
Source: TradingView
The coin’s chart reflects this, with MOVE’s price descending from a ten-day high of $0.8778 last night to about $0.705 as of writing.
According to DEXTools, it’s down by 14% in six hours, but up by 4.7% in a week.
It currently has a market cap of $1.5 billion and a holder count of roughly 11,000, with the coin listed on Uniswap and also a range of CEXes (e.g. Binance, OKX, Bybit, Bitget).
Given Movement’s potential as a layer-two network, MOVE token has every chance of returning to growth in the near future.
Its native platform has a unique selling point in that it’s based around the MOVE programming language, the proponents of which claim will make developing blockchain-based protocols much more straightforward and flexible.
Time will tell whether Movement can distinguish itself from other MOVE-based platforms, such as Sui and Aptos, both of which are now strongly established in the crypto space.
Yet its launch has been promising, given that the MOVE token has received plenty of support from major exchanges already, with more listings likely to come soon.
New Meme Tokens May Outperform Utility Coins
While MOVE looks like it has the potential to enjoy sustained growth over time, its reliance on fundamentals may mean that its growth remains steady rather than spectacular.
Traders hunting market-beating gains may therefore have to look towards more speculative tokens, with certain presale coins looking like they could rocket once they go live.
One token looking very promising is Wall Street Pepe (WEPE), an ERC-20 token that has raised an incredible $32.6 million in its ongoing sale.
WEPE is attracting investors because it’s more than just another meme token, given that it comes with its own trade intelligence platform.
Its platform will provide investors with real-time analysis and market insights, while also giving WEPE holders exclusive access to buying signals and trading strategies.
It will also manage its own online community spaces and forums, where users can share tips and analysis, as well as compete in trading competitions.
The winners in these competitions will earn rewards in WEPE, which they will also be able to stake, increasing the profitability of the token.
Investors can join Wall Street Pepe’s sale by heading over to its official website., where WEPE is available at a price of $0.0003651.
This price will continue to increase as the sale progresses, while the sale’s rapid success suggests that it could moon once it goes live.
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