Catizen, a Telegram-based play-to-earn model, has garnered investors’ attention amid its substantial airdrop and emerging controversy surrounding it. The Catizen price prediction sparks a bullish outlook ahead of major exchange listing, but a recent change in CATI’s airdrop allocation has sparked transparency concerns, leaving early contributors disappointed.
Catizen Price Prediction: Will CATI Thrive on Binance Despite Community Backlash?
Catizen (CATI) is a Web3-based gaming and social entertainment platform integrated into Telegram using The Open Network (TON) blockchain. The CATI token of Catizen is set to be listed on the leading cryptocurrency exchange, Binance, on September 20, 2024, at 10:00 UTC, with several trading pairs.
While the upcoming listing sparks a bullish outlook for Catizen price prediction, the project faces significant backlash on social media platforms amid the change in its ongoing airdrop allocation.
The crypto analyst Gautamguptagg recently highlighted the CATI airdrop, which was intended to reward contributors based on engagement metrics, has shifted investment-based allocation.
The tweet highlights, “- Master level members who didn’t spend got 30-40 tokens, while Gold members with just $10 investment got 40-60 tokens.”
The analyst further emphasized the initially promised 43% community airdrop was reduced to 34% as the remaining 9% to Binance’s Launchpool. Furthermore, the team divided the airdrop into two seasons without any prior mention in the whitepaper, raising concerns over the lack of transparency.
Adding to the controversy, Gautam added, “They allocated 20% of the supply to the team, which is more than the S1 airdrop supply (15%). Plus, IYK treasury supply also benefits the team, so in total, about 35% of the supply goes to the team.”
This controversial airdrop distribution has left early contributors disappointed, as concerns about transparency continue to raise doubts about the project’s future direction
🪂 Catizen $CATI Really MESSED UP , With Their #Airdrop Allocation
🐱 9 Big Mistakes by the Catizen Team (The Team Just Filled Their Pockets) 👇
1. Firstly, they said rewards would depend on CATI speed(VKitty)/Fish Consumption, but now allocation is based on investment.
— Gautamgg.eth/sol 🇮🇳❤️ (@Gautamguptagg) September 15, 2024
CATI Price Signals Impending Breakout
The Catizen price prediction shows a sideways action above $0.66 support in the hourly chart. The neutral candle formation with higher wicks on either side reflects a lack of initiation from buyers or sellers.
If the upcoming listing boosts the investor’s activity, the CATI price could challenge the overhead resistance of $0.95, registering a potential growth of 33%.
On the contrary, if the airdrop allocation controversy accelerates, the sellers could breach the $0.66 line and drive an extended fall to $0.43.
Frequently Asked Questions (FAQs)
The CATI price shows sideways movement above the $0.66 support level, but potential upswing to $0.95 amid Binance listing
The team allocated 20% of the total supply to themselves, more than the 15% S1 airdrop supply, raising concerns about the fairness and transparency of the distribution.
If the listing boosts investor activity, the CATI price could rise to challenge the $0.95 resistance,
Sahil Mahadik
Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/catizen-price-prediction-1-airdrop-transparency-concerns/
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