The price of the Atletico De Madrid Fan Token (ATM) spiked by more than 50% yesterday, and at the time of writing, it is still up 15% in the last 24 hours. After careful analysis, we could not find any major trigger or fundamental news to explain the significant pump.
According to Cryptowise.finance, the sudden pump and subsequent dump were the first time in at least a year that ATM experienced such a substantial price movement in a short period. The platform reported the following:
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +“Crypto #Pump Update ATMUSDT $ATM gained 40.58% in 4 hours! First time in at least 1 year #ATM increased so much in 4 hours.”
Shortly after, Cryptowise.finance also noted:
“Crypto #Dump Update ATMUSDT $ATM fell -19.55% in 4 hours! First time in at least 1 year #ATM lost so much in 4 hours.”
To better understand the price action, we examined the token’s historical performance. Our analysis revealed that the price has been trading sideways for the past two years. Even the recent spike was within the consolidation range.
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Is ATM a Good Crypto to Buy?
It is not advisable to purchase ATM solely based on the recent price spikes. If you understand the long-term benefits of buying the ATM token or believe in its long-term viability based on your own research and metrics, then it could be a potential investment opportunity. However, the token’s price action seems disconnected from the general market sentiment, and the token itself does not appear to be actively traded or suitable for short-term trading strategies.
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