Why is KODA crypto slipping today?

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Why is KODA crypto slipping today?

 Why is KODA crypto slipping today?
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Highlights

  • Koda Cryptocurrency (KODA) token is a meme-based utility token built on the Binance blockchain.
  • However, the KODA crypto on 10 August witnessed a fall of 2.04%, along with a volume loss of 79.09% at 7:30 AM (GMT +1), according to CoinMarketCap. 
  • The 5840-ranked KODA crypto on Wednesday was trading at US$0.000118 with a trading volume of US$1,835.42, as per CoinMarketCap.

Koda Cryptocurrency (KODA) token is a meme-based utility token built on the Binance blockchain. The community-driven protocol aims to make crypto accessible to all the user and urges more and more participants to join the protocol to support the long-term progression of the token. 

KODA crypto is built around the core models of seamlessness, trust and knowledge. The users can earn extra income using the KODA crypto through staking, farming etc. 

However, the KODA crypto on 10 August witnessed a fall of 2.04%, along with a volume loss of 79.09% at 7:30 AM (GMT +1), according to CoinMarketCap.

Why is KODA trailing? 

The exact reason for KODA’s fall today is still unknown, but it may be due to declining momentum in the token. KODA copy over the past month or so witnessed a rally of 29.2%, but it has seen a dip ever since. 

The KODA dip was visible in the KODA charts, and its RSI stood at 53.85. 

Image credit: Trading View

Even the MACD indicators indicate that the momentum built up earlier in the year soon fizzled out. As it stands, the MACD line is barely above the signal line, but today’s dip has ensured that it has closed the gap between the two. 

How is KODA performing?  

The 5840-ranked KODA crypto on Wednesday was trading at US$0.000118 with a trading volume of US$1,835.42, as per CoinMarketCap. KODA crypto had a fully diluted market cap of US$ $3,889,909 with a total supply of 33,000,000,000 KODA coins in circulation. 

KODA’s investors would be hoping that today’s dip will soon subside, but they also have to understand that in the crypto market, the prices of tokens can change instantly. Therefore, it would be advisable to conduct proper market research to ensure they don’t face financial losses. 

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