- The price of the WOW crypto has lost its value by 94% from its all-time high.
- Less than 36% of the token supply is in circulation.
Wownero is a privacy-focused memecoin launched in 2018. It prides itself on being fair with no premine or developer fees. While its price has significantly dropped from its all-time high, it remains tradable with a small market cap.
The market cap of the Wownero has declined by 2.5% in just last 24 hours resulting in a market cap value of $7.525M. Also, the market cap ranking of the crypto is #1217 and the volume/market cap ratio of the crypto is 0.44%.
The derivatives trading volume of the crypto has witnessed a huge advance of 110% in the last 24 hours. This results in a traded value of $31.98K. Moreover, the market cap dominance of the crypto is 0.00% as per Coincodex which is considered very low.
The volatility of the Wownero token further is extremely high resulting in 35.14% and the sentiment of the crypto is bullish. Furthermore, the fear and greed index of the crypto is indicating greed.
The all-time high price of $2.03 for the crypto was achieved on April 23, 2021, nearly three years ago. Since then, the price of the crypto has declined by 94.4% and also the all-time low price ever recorded for the crypto is $0.002551. The price of the crypto since then has advanced by 4340%.
The current circulating supply of the Wownero token is 66.139M WOW which results in a fully diluted market cap of $21.136M. The total supply of the crypto is similar to the circulating supply while the maximum supply of the crypto is 184.467M WOW.
WOW Crypto Technical Analysis
The price of the WOW token is consistently declining following a strong downtrend followed by the lower low swing in the chart. The price of the token further forms strong bearish candlestick patterns on the chart.Â
There are no signs of reversal in the price of the crypto and the following behavior of the price represents strong dominance in the crypto price.
WOW/USDT Chart by TradingView.com
The technical indicators on the daily chart of the crypto indicate weakness in the price followed by a strong sell signal.
The price of the crypto has declined below the 20, 50, and 200-day EMAs and is further declining to lower levels followed by the declining values of the EMAs on the chart.
Also, the deviation between the 50-day EMA and the 200-day EMA is very huge which indicates strong dominance of sellers in the crypto.
The MACD and the signal line have recently declined below the zero level followed by the bearish cross of the following metrics of the MACD indicator. Furthermore, the histograms formed on the chart are also highly bearish.
Summary
The WOW token faces significant challenges as it grapples with a 94% loss from its all-time high and a dominant downtrend. Despite its privacy focus and fair launch, the token’s market cap sits at $7.525M, with less than 36% in circulation. Technical indicators signal continued weakness, suggesting a challenging recovery path.
Technical Levels:
- Support levels: $0.01500 and $0.0200
- Resistance levels: $0.02800 and $0.04300
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.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.