As a seasoned crypto investor with a knack for sniffing out promising projects, I must admit that X Empire piques my curiosity. The sudden surge and subsequent drop in its price across various exchanges have left me intrigued, much like a rollercoaster ride that promises thrills but delivers an unexpected twist.
Today, as planned, the X Empire commenced trading across multiple platforms. The makers of the telegram tap-to-earn game, posting on their official X account, had earlier announced that this listing would take place on several exchanges such as OKX, Bybit, Bitget, and Wallet, along with others like KuCoin, MEXC, BingX, and more.
The X token has surged by over 300% in the last 24 hours on KuCoin, currently trading at $0.00007984. However, on OKX, the price has dropped by more than 50% in the past 24 hours. Additionally, the market cap stands at $0.00 on both exchanges as of the time of writing.
According to information from BingX, the X token has experienced a decline of over 14% within the past 24 hours, and it is now being traded at approximately $0.0000956.
Community Backlash Over Airdrop Allocation Sparks Criticism
Although some crypto supporters are hopeful about X Empire’s prospects, the token has faced criticism within its user base, particularly concerning the management of the airdrop. Numerous users have voiced their dissatisfaction, claiming that the distribution was less favorable compared to past projects like Hamster Kombat (HMSTR).
A user stated that the X Empire team had pledged to deliver a superior distribution compared to Hamster Kombat, but ended up underperforming. The user asserted that more than 90% of the community missed out on their airdrop, and what was distributed was even taken from those who received it. Additionally, the user expressed concerns over vague transaction fees and insufficient communication from the project’s creators.
A disgruntled participant named Abdul Bari has labeled the project as a “blatant scam,” stating he invested $6 for eligibility in an airdrop but received only half the value, or $2 worth of tokens. These criticisms have sparked worries that the token may face a destiny akin to HMSTR.
Crypto Analysts Remain Optimistic despite Early Challenges
Regardless of the drop in price and ongoing debates about the X token, certain cryptocurrency advocates remain convinced that it has a substantial future value within the digital currency market.
A Bitcoin analyst with over 170,000 followers shared a positive review about the X listing, stating that the token has a strong community and highly active developers. The analyst noted that the token is poised to take the top spot among meme tokens on the TON network. Moreover, with its blend of innovation and fun, the token could eventually dominate the meme space.
In a similar vein, another well-known cryptocurrency trader, Kong Trading, with over 130,000 followers, has expressed optimism as he’s sensing a bullish trend since the initial price drop. Remarkably, the market seems to have almost entirely turned around. The commentator highlighted the robustness of the X token community, boasting 52 million users spread across 170 nations, 23 million followers on Telegram, and 6.3 million subscribers on YouTube. To add to this, Notcoin is also backing the token.
The negative sentiment surrounding X Empire’s airdrop allocation could lead the token to a fate similar to HMSTR’s. The price drops on some exchanges indicate dissatisfaction, with many dumping the token. However, it may still be too early to dismiss the possibility of the X token regaining its value.
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2024-10-24 19:27