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Why did Radio Caca (RACA) price surge by 20% on Sunday and then pull back afterward?

RACA token surged from $0.0018 to $0.0021, a 20% up In the early hours of Sunday morning. It went on with the dip and at the time of writing it is trading at $0.001831, a 7.27% drop over the last 24 hours.

Despite its price rising by about 39.7% over the last 30 days, the coin has been dropping over the recent past with Sunday being the only exception. In general, the price of RACA has dropped by 17.9%  over the last seven days.

But why did RACA shoot up and then retreat within a few hours of the surge? In this article, we will clarify all this, scroll down for more information.

Radio Caca (RACA) price movements

Before we take a deep dive into the price movement of RACA let’s first understand what it is.

Radio Caca is the native token of Universal Metaverse (USM) and it is also the exclusive manager of “Maye Musk Mystery Box” NFT. 

The USM was created by the USM Lab and it is a 3D Planet virtual world where users can own lands, build buildings such as stores and art galleries, and also create and play games.

Let’s now dive into why the coin surged before the current drop.

There were three main reasons why the price of RACA surged on Sunday, and those are listing on major crypto exchanges and service providers, Radio Caca’s launch of NowPayment, and Rumors on Binance listing.

Rumors on Binance listing

After Binance posted a guide on how users can purchase RACA on its exchange and social media official website, rumors started to spread and not only did the token price rose but the number of searches for the crypto rose as well.

RACA appeared in second place of the most traded currencies on that day after it was featured on the trending searches alongside GTM and ApeCoin.

However, Binance highlighted on its post that the token is not yet available on its platform besides crypto enthusiasts being optimistic that RACA will be listed soon as it has happened before with other cryptos.

RACA listing on major crypto exchange and service providers

In the last week, major service providers and crypto exchanges have announced that they will list RACA as it has portrayed tremendous growth in its ecosystem. Some of these companies are Bybit, Huobi, Phemex, and ChangeNow.

NowPayment announcement

Another reason for the hike and a great feat for Radio Caca is its announcement about the sale and purchase of its tokens in various fiat pairs like RUB, EUR, TRY, UAH, USD, and GRB.

Bears are still dominant besides the Bulls persisting

There has be several announcements from the Radio Caca Metaverse tech team revolving around Web 3.0 infrastructure in the course of last month that resulted in a sharp price rise towards the end of the month. 

Some of these announcements were the partnerships with some of the biggest universities in the world like the University of Hong Kong, Cambridge University, Istanbul Technical University, and also Princeton Blockchain Society.

InvestorsOberver Analysts wrote:

“Radio Caca is $0.000691 (60.81%) higher than its 30-day low price of $0.001136761 while also -$0.000897 (-32.92%) lower than its high of $0.00272524 from the past month of trading. Meanwhile, RACA’s current price of $0.001828055 is above its average price of $0.001697834 set over the past month of trading, leading to a strong short-term technical score. In summation, the recent trading history of Radio Caca suggests that traders are currently bullish on the token.” 

The post Why did Radio Caca (RACA) price surge by 20% on Sunday and then pull back afterward? appeared first on Coin Journal.

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