Why is WAM Coin Pumping 500%? The Meteoritic Rise of a Lesser-Known Play-To-Earn Token

The crypto market saw immense volatility this week, with many major cryptocurrencies seeing significant price swings. However, one lesser-known crypto coin managed to stand out by exploding over 500% in value.

$WAM (WAM) started the week trading at just $0.0008626 but saw a parabolic rise to over $0.005 within a few days. This makes WAM one of the top performing cryptocurrencies over the past week.

Interestingly, WAM has achieved this despite not yet being listed on major exchanges like Binance or KuCoin. This suggests the coin could be primed for further growth if it manages to secure listings at larger exchanges, giving it access to wider trading volumes.

Source: CoinStats – Start using it today

However, after such a strong rally, a retracement to around $0.004 is likely at some point soon. Traders who got in early may begin taking profits after the immense gain.

The catalyst behind the huge surge in WAM remains unclear. The project’s X (Twitter) account has over 74,000 followers, but there were no major announcement events this past week that would explain the spike. The only potential factor seems to be that WAM/USDT trading volumes rose significantly on the Gate.io exchange during the rally.

For now, WAM can be traded primarily on Gate.io and PancakeSwap.

What exactly is WAM and does it have strong fundamentals?

The $WAM token is the native utility token of WAM.app, a play-to-earn social gaming platform where users can compete in quick tournaments for rewards in $WAM tokens and NFT prizes.

The WAM token allows access to the platform’s tournaments and other features like revivals, NFT minting, staking for rewards, and more. Users connect to WAM.app using their own crypto wallets in order to participate.

WAM aims to be one of the first platform with the capability to service millions of crypto users across different blockchains. This chain-agnostic approach could give it an edge in the competitive play-to-earn space.

While the recent price explosion brings speculation, WAM appears to be more than just a pump and dump. With strong gameplay fundamentals, this is a crypto project that seems worth keeping an eye on going forward.

We recommend eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency

CaptainAltcoin
Logo