It's obvious the token launch has created an opportunity for many people to speculate.
The token valuation seems absurdly low. Even accounting for the fact that the vast majority of tokens aren't even released yet. If we account for the total valuation including 1B tokens then with a price of 0.001 USD the fully diluted market cap would be 1m USD. This is a very low valuation even with the current revenue levels it could mean breaking even from the revenue share quite fast.
But speculators just saw the price rising and took advantage of the situation. It's a great opportunity if anyone wants to swing trade right now. What I do not understand is why the price in the AMM was set so low initially.
There is this thing about new token and whenever it is being listed you would see that there are some people who will be there controlling the price like trying to manipulate the price to their wanting.
However, a token like this it’s better they reduce the total supply in other for the price of the coin to be very expensive, let say if they do away with 00 or 0 it will be more better. For 00 the price at least the price increases so quickly.
Their total supply is quite huge and they have airdropped their coins for free, due to which many people are selling them in the market to get free coins, so it will be very difficult to maintain the price of this coin. Gambling platform tokens normally do not do very well in the market, if you look at the tokens of other platforms, they did not do very well except for a few tokens. Now to increase the value of this coin, in addition to reducing their supply, they will have to create pipes by manipulating their own market making and then stabilize the coin with a large liquidity, but this will be very challenging for them as a new platform.
