Solid Lower Lows in the WOW Crypto: Is There Any Hope Left?

• The WOWswap crypto has lost its value by 41.3%.
• WOW has witnessed a massive surge in its trading volume.

WOWswap is a decentralized leveraged trading protocol on Binance Smart Chain, built on Pancakeswap DEX. It was released on the 12th of April 2021. Liquidity providers supply BNB to earn interest from trader fees. WOWswap facilitates leveraged trading and offers opportunities for liquidity providers to earn rewards.

The trading volume of the WOWswap has witnessed a massive surge of 310% in the last 24 hours, resulting in a traded volume of $10.9K. Despite this, the market cap of this crypto asset has declined by 39.3%.

The market cap ranking of the WOWswap crypto is #2172 as per CoinMarketCap, and the volume/market cap ratio is 22.70%. The WOW token’s market cap dominance is 0.00% due to its low market cap value.

The total value locked for the crypto is $34.2K, and the staked value of the crypto is $7.1K, which is 24.11% of the market cap. 

WOWswap Token Supply Analysis

The fully diluted market cap of the WOWswap crypto is $3.8K, and the circulating supply market cap is $32.6K. Also, the max supply of the crypto is 1.0M WOW, the total supply is the same, and the circulating supply of the crypto is 999.9K WOW.

WOW Crypto Technical Analysis

The trading price of the WOW crypto is forming a lower low swing on the weekly chart and depicts a very strong downtrend. The token price has been forming solid bearish candles on the chart, indicating strong dominance of sellers in the price.

The WOW crypto price is consistently declining and is trading below all the crucial EMAs on the daily chart. The EMAs are also trading in a death crossover on the chart.

The MACD is acting uncertain as the MACD and the signal line overlap. Also, the lines are trading below the zero level, which indicates bearishness and volatility on the chart.

The RSI is following a bearish cycle and has declined below the 14-day SMA. The RSI is currently trading at a level of 33.20 and indicates weakness in the momentum of the price.

Summary

WOWswap crypto faces significant challenges, witnessing a 41.3% loss in the last 24 hours and forming lower lows, indicating a strong downtrend. Despite a surge in trading volume, the market cap plummeted by 39.3%. Technical analysis reveals bearish indicators with declining prices, death cross on EMAs, uncertain MACD, and weakening RSI momentum.

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.