Why is $TIMI still so weak? 😳😳😳#metaarena disaster or possible rebound??
Binance Alpha recently completed its second wave of TIMI airdrops. Historically, these events lead to immediate claim and sell activity. Many participants who received #TIMI are currently liquidating their tokens, creating a wall of sell orders that the current buying demand hasn't been able to absorb.
A major TIMI Trading Competition on Binance is entering its final hours. These competitions often artificially inflate volume as traders aggressively buy to move up the leaderboard. As the event nears its end, participants often dump their positions to secure their final ranking or move capital to the next event, leading to a sharp price correction.
The broader GameFi sector has been underperforming compared to major assets like Bitcoin and Ethereum this week. TIMI is a high beta asset, meaning it tends to exaggerate the moves of the gaming sector. With the GameFi market cap slipping recently, high-volatility tokens like TIMI often take the hardest hits.
After a brief recovery toward the $0.019 range earlier in the week, the token hit a psychological resistance level. Traders who bought near the $0.013 lows are now taking profits, which has pushed the price back down toward support levels.
Keep an eye on fellow fallers $FIR and $DOYR
