WatBird’s WatCoin ($WAT) launched on Bitget on September 23, marking its official entry into major exchange trading. However, following the listing, the price of $WAT dropped, experiencing a 21% decline within the first 24 hours.
The token opened at $0.001019, with a trading volume of $6.5 million within the first few hours of trading. As of today, the price has fallen to $0.00079.
WatCoin is part of gaming ecosystem on The Open Network (TON) blockchain, with over 80 million users to date. It is supported by major crypto entities, including Animoca Brands, Binance Labs, and other key entities like Pantera and TON Ventures. The WATCoin Launchpool event on Bitget allowed users to lock popular assets like Bitcoin (BTC), Ethereum (ETH), and Mocacoin (MOCA) to gain shares of 1.57 billion WAT tokens during the promotional period
While the initial price drop could be concerning to some investors, it is common for new tokens to experience volatility shortly after listing.
Will WatCoin Follow Similar Pattern As Of CATI and DOGS?
When compared to the launch performance of similar tokens like DOGS and CATI, WatCoin follows a familiar pattern. The initial listing price for all three tokens hovered around the $0.001019 mark.
DOGS token, which also launched on a major exchange, initially priced at $0.001019, has shown more price stability. Unlike WatCoin, DOGS did not experience the same sharp decline in its early trading days.
The token managed to maintain a relatively stable price after its listing, suggesting either a more balanced distribution of token holders or lower speculative pressure.
CATI, another TON-based token, launched just a few days before WatCoin, on September 20. The token more closely mirrors WatCoin’s trajectory. CATI launched at a comparable price but quickly encountered market volatility similar to $WAT, with a 20.18% price drop over the last seven days.
Both tokens saw a rapid spike followed by significant declines, indicating that early investors may have been looking for short-term gains, leading to quick sell-offs.
