The erratic volatility prevalent in the bitcoin and altcoin market is known for causing nightmarish losses and stratospheric gains. Investors who choose the right coin can make high profits, but they can also face sharp drops. In this article, we will talk about altcoins that first go up and then go down…
These 4 altcoins fell hard
cryptocoin.com As we have also reported, Shih Tzu (SHIH) token, a dog-themed cryptocurrency, has increased from $ 0.00000009105 to $ 6 in the past days, gaining over 6,000 percent. As the reasons behind the price action of the SHIH token remain unexplained, many skeptics want to be cautious with this type of token. SHIH is back to the lows of $0.00000001711 at the time of writing.
Kokoswap (KOKO) was another coin that made a heavy gain for investors with its unexpected rise and then went down. KOKO traded at $0.0009 earlier in the month, and rose as high as $9.05 last week. The altcoin, which fell by 25 percent from this level, is changing hands at $ 6.5 at the time of writing.
On the other hand, according to CoinMarketCap data, the ARC Governance (ARCX) token, which rose to $ 9,991 8 days ago, has dropped almost 100 percent from these levels. ARCX is changing hands at $0.4005 at the time of writing. Finally, Ethereum Meta (ETHM), which had rallied to $0.00056 last week, slumped to $0.00000002115 and lost over 50 percent. Blockchain and emerging technology expert Sharat Chandra said that the price rally in such coins does not seem sustainable, they only make money from NFT and metaverse game momentum.
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