Sweat Economy Airdrop Rumours Could Be Fake, No Official Confirmation

NEW DELHI (CoinChapter.com) — A blog post about a possible Sweat Economy airdrop is doing the rounds online. However, there is no official update about any SWEAT token airdrops on the platform’s official website.

A Medium post shared a step-by-step guide to claiming the Sweat Economy airdrop. Interestingly, the author’s account is under investigation for violating platform rules.

However, social media posts claim a SWEAT token airdrop, though the dates make them seem a bit dicey. For instance, a post (in Vietnamese) that the airdrop event would allocate 690 million Sweat Network tokens to users in the “US and eight other countries.”

Moreover, the post gives the date of the airdrop as Sept. 12.

On Sweat Economy’s official X handle, the only giveaway is a chance to win an Apple watch by completing a New Year challenge.

As such, traders would be wise to exercise caution before granting access to their crypto wallets for any potential Sweat Network airdrops.

SWEAT Price Has No Reaction To Airdrop Rumors

Meanwhile, the Sweat Economy airdrop rumors did not impact SWEAT’s price action. The token price dropped nearly 4% to a daily low near $0.0106 before rebounding off the 100-day EMA (blue wave) trendline.

If the Sweat Economy airdrop rumors turn out fake, SWEAT price might break dynamic EMA support and drop to the 200-day EMA (green wave) support near $0.0099.

Breaching the immediate support level might force the Sweat Econoym token price to test the support near 0.009 before recovering.

Conversely, a rally from here would need SWEAT price to break above the 20-day EMA (red wave) resistance near $0.012. Breaking and consolidating above the immediate resistance might help the Sweat Economy token price target the resistance near $0.013.

The RSI for SWEAT remained neutral, with a score of 40.03 on the daily charts.

What Is Sweat Economy

Sweat Economy is a blockchain platform that encourages people to be physically active by rewarding them with a digital currency called SWEAT for their steps and movements.

The more active a user is, the more SWEAT tokens they can earn. Investors could use thirSWEAT tokens for the platform’s ecosystem for various purposes, such as trading or participating in governance decisions.