$W ’s trading volume didn’t build up gradually—it surged. Thirty days ago, it was still bottoming out below $0.01, with average daily volume under 10M. Then, on September 28, volume suddenly jumped to 135M. Since then, every pullback has held above the previous low. Today, it surged to $0.0285, with 276M in trading volume against a market cap of 187M, and a turnover rate exceeding 1.4x. This isn’t a gentle climb; it’s a sign of intense token turnover, with buyers rushing in while others take the opportunity to sell.
What concerns me more is the price level. $W is still 98.28% below its ATH. The first rally after such a steep decline is often just an oversold bounce, not confirmation of a trend. Higher lows and increasingly large volume do suggest that money is accumulating, but after tripling in 30 days, the risk of chasing the price is now greater than the risk of missing out.
What really needs confirmation is whether trading volume can hold up. If volume falls back below 50M over the next few days and the price can’t hold $0.022, then this move is just a brief surge within a rebound cycle. On the other hand, if the pullback comes on lower volume and holds above the key range, that would partially validate the underlying buying. The market’s only clear message right now is, “Money is coming in.” Whether that money is here to build a position or to speculate won’t be clear until after a pullback.
What concerns me more is the price level. $W is still 98.28% below its ATH. The first rally after such a steep decline is often just an oversold bounce, not confirmation of a trend. Higher lows and increasingly large volume do suggest that money is accumulating, but after tripling in 30 days, the risk of chasing the price is now greater than the risk of missing out.
What really needs confirmation is whether trading volume can hold up. If volume falls back below 50M over the next few days and the price can’t hold $0.022, then this move is just a brief surge within a rebound cycle. On the other hand, if the pullback comes on lower volume and holds above the key range, that would partially validate the underlying buying. The market’s only clear message right now is, “Money is coming in.” Whether that money is here to build a position or to speculate won’t be clear until after a pullback.