During the past few weeks, the price of the PEOPLE token has been soaring. However, based on a price prediction, it looks like that the price may be headed down to $0.053044. This is a huge drop and it looks like that the volume of trading across the crypto exchanges is going to drop almost 100%.
PEOPLE token price surges to $0.053044
Having spent the last year at a record low of $0.1174, PEOPLE token is now making a comeback. It has been on a rally, going up over 900% in a month.
The PEOPLE token was created for use on the Constitution DAO project. This project was created by a group of web3 enthusiasts as a decentralized autonomous organization. Their goal was to acquire a rare copy of the US constitution through an auction. However, their bid was unsuccessful, as billionaire Ken Griffin won the bid.
When the Constitution DAO project failed to acquire the Constitution copy, they refunded their donors and announced the project would shut down. As a result, the project refunded their contributors, including those who paid in ETH, and reissued PEOPLE tokens to them. However, it has not been confirmed as to why the organization refunded the funds.
The PEOPLE token is still being traded on several crypto exchanges. It has gained a substantial amount of market cap, with over $324 million. Despite the rise in price, the token remains unclear in its purpose. This could be why many people are ignoring it.
Although the PEOPLE token is currently trading at a low of $0.03084, it is still being purchased by traders who are hoping to get their WTP (what’s up?) later. The PEOPLE token is still a crypto asset and can be traded on exchanges such as OKEx, Uniswap, and Etherscan.
Traders will look at several different metrics when they’re trying to determine how the ConstitutionDAO price will perform in the future. A few of the more popular indicators include the 100-day and 200-day moving averages, RSI, and Fibonacci retracement levels.
The 100-day moving average is one of the most common indicators used in the crypto market. A moving average is calculated by taking the closing price of the PEOPLE over a specific period of time and dividing it by 100. If the price of the PEOPLE is above the 100-day moving average, it is considered a bullish sign. However, if the price of the PEOPLE is below the 100-day moving average, it is seen as a bearish sign.
PEOPLE token price drops to $0.053044
Traders betting on the ConstitutionDAO’s PEOPLE token recorded over $9 million in liquidations on Friday. This marks a significant drop in trading volumes. The drop is an indication that the market is not supporting a bullish move.
The PEOPLE token has surged 900% in the last month. It is a governance token that is issued by ConstitutionDAO and operates on the Ethereum platform. Traders use a variety of chart patterns and technical indicators to determine the market’s sentiment and find important support and resistance levels.
The 50-day simple moving average is a popular indicator in the crypto market. It provides an average closing price for PEOPLE over a fifty-day period. This indicator has been signaling a sell for the last five days. If the 50-day SMA continues to move downward, then the PEOPLE price will continue to trend down in the medium term.
The 200-day simple moving average is another commonly used indicator. It is calculated by dividing the closing prices for the last two hundred days by two. When the 200-day SMA is above the 50-day SMA, the PEOPLE price is signaling a bullish trend. However, when the 50-day SMA is below the 200-day SMA, the PEOPLE price is signaling a bearish trend.
The PEOPLE token has seen a huge spike in price after it was launched in November 2021. It reached an all-time high of $0.187051 on December 23, 2021. However, it has since retraced to a price of $0.046, indicating that traders are still holding on to the PEOPLE token.
The PEOPLE token is a governance token for the ConstitutionDAO. It operates on the Ethereum platform and is part of the ERC-20 standard. The token provides voting rights to its holders, which play a part in the governance of the project.
The ConstitutionDAO is an attempt to create a decentralized autonomous organization (DAO). DAOs are autonomous organizations that have voting rights to token holders. When a DAO is unsuccessful, the team has the option to dissolve or keep a portion of the ETH. The ConstitutionDAO announced earlier that it was going to replace the PEOPLE token with the WTP token, a governance token that would provide voting rights to the PEOPLE token holders.
Trading volumes across the crypto exchanges drop by almost 100% to over $181,000
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