🚨 Scroll (SCR) Faces Heavy Sell-Off Following Airdrop Launch – Down 19% in 24 Hours 🚨
The long-awaited Scroll (SCR) token launch on the Ethereum Layer-2 network took a surprising turn, as SCR prices dropped by nearly 20% within just a day of trading. Here’s the breakdown:$SCR
🪙 Scroll Airdrop Details
Amount Distributed: 55 million SCR (5.5% of total supply)
Reaction: Many participants expressed disappointment, feeling the distribution favored certain users over the loyal Scroll community.
💥 Community Reaction & Sell-Off Surge
Users received less SCR than expected, prompting some to sell their tokens quickly.
Notably, a user, Joshyy, shared that he invested time and money into farming SCR, only to receive a minimal airdrop. Another user chose to sell all SCR and exit the platform altogether.
📉 Bearish Momentum Builds
Indicators Signal Trouble:
The Bull Bear Power (BBP) indicator sits at -0.10, signaling bearish dominance.
SCR’s price hovers around the lower Bollinger Band, typically a sign of continued selling pressure.
🔮 Outlook for SCR
Support Level: $0.99 – Near all-time low since launch. Breaching this could lead to further declines.
Potential Rebound: If SCR demand rises, we could see a climb towards $1.55, with the next target at $1.72 if resistance levels are overcome.
🔍 Will the Scroll network turn sentiment around? Stay tuned as the market reacts to this volatile launch!
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