$FOGO is in deep red territory, dropping 14.66% to an All-Time Low of $0.028 Below 📉
Traders are split: is this a dead project or a perfect "oversold bounce" play?
🟢 The Bull Case (Technical Bounce)
Extreme Oversold: The 6-period RSI is at 9.37. Assets rarely stay this low without a relief rally.
Bollinger Bands: Price is trading below the Lower Band, statistically increasing the chance of a mean reversion snap-back.
Incentives: New launchpool rewards and trading challenges are live to stimulate demand.
🔴 The Risks (Falling Knife)
Trend: Strong bearish momentum on MACD and EMA. The trend is firmly DOWN.
Selling Pressure: A massive $13M volume spike accompanied the drop, meaning sellers are exiting aggressively (capitulation).
Sentiment: Community is hurt by the post-listing performance and poor valuation.
