YEREVAN (CoinChapter.com) – The UFO gaming token price dropped 10% to $0.000002227 on Feb 13. The day prior, the coin had taken off with a surprising 65% intraday rally as the US and Canadian military forces brought down a flying object over lake Huron and Twitter lost its mind over a supposed “alien attack.”
UFO gaming coin price pumps on the hype
As typically happens with memes and gaming coins, the UFO token jumped on hype.
On Feb 13, several news outlets reported that the US and Canada are investigating three unidentified flying objects shot down over North America in the past three days. Militaries have adjusted radars to try to spot more incursions.
However, many took the flying objects as an alien attack.
In detail, US fighter jets shot down the objects with missiles on Friday, Saturday, and Sunday. The military officials have not yet commented on what the objects were, but in the wake of the recent incursion by a Chinese spy balloon, the military forces are “hyper vigilant” in flagging some objects that might previously have been allowed to pass.
The Twitterverse exploded with users making fun of the fact that an alien attack was the logical continuation of the ‘covid-war-recession’ chain of events, with “vaccines exposed” and the government trying to shift focus from its own weaknesses.
In any case, the crypto community took the incident as a cue to pump the UFO gaming token, with the king of all things meme Elon Musk also commenting on the supposed “alien attack.”
Notably, the UFO gaming token’s reversal is likely to continue now that the hype around the “UFO attack on USA” has died down.
UFO token loses momentum after an extraterrestrial rally
As mentioned, the UFO price gained over 65% in 24 hours on Feb 12 and pared some of the gains on Feb 13.
Meanwhile, the coin dropped to crucial support at $0.000002227, which acted as resistance since June 2022. The UFO token also recoiled from the 200-day exponential moving average after approaching the wave for the first time since Aug 2022.
Moreover, while the trading volumes skyrocketed on Feb 12, the Feb 13 results are unlikely to support a rally continuation. Thus, the charts testify to a reversal continuation in the upcoming sessions.
The UFO coin is also likely to drop below the mentioned support line, in which case the next possible assistance line would stand around $0.000001865.
Also read: Hype Around Pi Network Open Mainnet Launch Fails To Uplift PI Prices.
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