The native token of the Berachain blockchain network has been officially launched and is live for trading. Like most newly launched tokens, there’s high volatility around BERA, clearly visible in the price performance. It is a concern for investors, especially considering the current market conditions. However, the question is more concerned with its long-term trajectory, as many newly launched tokens have crashed significantly in the last few weeks amid market turbulence. So, how low can Berachain price drop in this context? Let’s discuss.
Berachain Price Surged 1400% But Crashed Soon
The BERA token entered the market on January 6, following a significant Berachain airdrop and token generation event. Interestingly, it rode the bulls right after launch, as the Berachain price surged 1400%, creating an ATH of $14.99.
The Binance listing also played a significant role in this BERA price rally, exposing the token to a broader market and attracting investors’ interest. However, volatility soon took over, with the larger whale taking the profit by shortening the token.
As a result, the price has crashed 48.35% since the prime, currently trading at $7.91 with a market capitalization of $849.66M per CoinmarketCap. However, the trading volume is still high at $2.19B, showing high investor activity, including sellers. As a result, bearish momentum has built, which could continue this trajectory if the sellers’ activity remains maintained.
How Low Can BEAR Price Crash?
The cryptocurrency market is already turbulent, and it quickly caught up with the newly launched Berachain coin. Its nearly 50% drop from its prime within a day raises concerns about its long-term price trajectory, especially as the TRUMP and MELANIA meme coin failed.
Both tokens had a bullish start, and many investors bagged heavy profits. However, as these took the liquidity, the remaining meme coins crashed. Eventually, the TRUMP meme coins hype settled with time, pushing them into an 80-90% consolidation from their prime. As a result, TRUMP’s price declined from $75.35 to $17.60, whereas MELANIA’s dropped from $13.73 to $1.51.
Most newly launched tokens go through a similar process, especially with the top crypto exchange listings. If the same pattern followed, the Berachain price could crash similarly due to high volatility and market sentiments. Comparative analysis indicates that the BERA price could hit bottom at $1.90
Disclaimer: This is a possible scenario considering global market conditions and similar incidents. So, the outcome could vary completely from this forecast. Investors must do their own research.
What You Should Do Next?
Although the Berachain coin price rallied 1400% after launch, its significant drop indicates the need for caution. This becomes more important in the early days, when the airdrop receivers are on a selling trajectory, and the market is witnessing high liquidity. Investors must carefully analyze the BERA price movement and the community sentiments around it. If it follows the momentum of the TRUMP and MELANIA meme coins, it could crash to as low as $1.50.
The post How Low Can Berachain (BERA) Price Go? appeared first on CoinGape.
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