{"id":82483,"date":"2023-11-09T07:22:58","date_gmt":"2023-11-09T12:22:58","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/is-trust-wallet-going-to-zero-twt-price-takes-a-dive-as-budding-meme-coin-surpasses-1-3-million-milestone\/"},"modified":"2023-11-09T07:23:01","modified_gmt":"2023-11-09T12:23:01","slug":"is-trust-wallet-going-to-zero-twt-price-takes-a-dive-as-budding-meme-coin-surpasses-1-3-million-milestone","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=82483","title":{"rendered":"Is Trust Wallet Going to Zero? TWT Price Takes a Dive as Budding Meme Coin Surpasses $1.3 Million Milestone"},"content":{"rendered":"
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Web3 favourite Trust Wallet\u2019s native token TWT price has taken a -21% tumble, leaving some panicked bag-holders asking \u2018is Trust Wallet going to zero?\u2019.<\/p>\n

The downtick in price action comes after Binance revealed the launch of their own Web3 self-custody wallet yesterday, triggering a sudden unexpected tumble in TWT price.<\/p>\n

With such a significant player entering the Web3 wallet space, markets reacted with caution as competition for Trust Wallet increases \u2013 especially as the Exchange giant delivers an innovative new security feature.<\/p>\n

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#Binance<\/a> is now your one app for all things Web3. <\/p>\n

Our new Web3 Wallet lets you connect DeFi to CeFi in one click. <\/p>\n

Try it and let us know what you think. <\/p>\n

\ud83d\udc49https:\/\/t.co\/OoxJUABjzU pic.twitter.com\/rK3ukNCy8l<\/a><\/p>\n

\u2014 CZ \ud83d\udd36 Binance (@cz_binance) November 8, 2023<\/a><\/p>\n<\/blockquote>\n

The Binance wallet is set apart by its departure from traditional seed phrases \u2013 instead, it employs a sophisticated Multi-Party Computation\u00a0(MPC) system that fragments private keys into three separate \u201ckey shares,\u201d with the user retaining control over two.<\/p>\n

TWT Price Analysis: Is Trust Wallet Going to Zero as Binance Wallet Launch Threatens TWT Market Position?<\/strong><\/h2>\n

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As Trust Wallet tumbles in the charts, TWT is currently trading at a market price of $1.48 (representing a 24-hour change of +0.70%).<\/p>\n

Following yesterday\u2019s sudden -21% tumble, TWT price appears to be catching support around the $1.50 level, as bulls attempt to defend their recent gains.<\/p>\n

The seismic downtick broke impressive TWT price rally structure developed over the past month of strong performance.<\/p>\n

Significant upside moves were triggered by the emergence of a golden cross on October 19, with TWT price gaining support from an ascendant 20DMA \u2013 triggering a +71% move into November.<\/p>\n

Now battling retracement after the panicked sell-off, TWT wallet remains high in the trading channel \u2013 and this is reflected in TWT\u2019s indicators.<\/p>\n

The RSI has cooled down to a minor degree amid the downside price action, although it remains with bearish overbought divergence at 67.22.<\/p>\n

Meanwhile, the MACD remains at a bullish signal with slight divergence at 0.0094 \u2013 suggesting buy pressure remains.<\/p>\n

Overall, TWT price looks reasonably strong here, although unexpectedly triggered by Binance\u2019s announcement, the retracement move is health for longer-term price action \u2013 offering a chance for the RSI to cool and lower support to be established.<\/p>\n

To the upside TWT has a target at higher support around $1.65 (a possible +10.92%).<\/p>\n

While downside risk for TWT could see a drop to lower moving average support around $1.21 (a potential -18.66%).<\/p>\n

This leaves TWT price with a risk: reward ratio of 0.59, with outsized downside risk dominating the chart on the short-time frame.<\/p>\n

But while TWT price battles to find strength, a breakout meme coin presale could be a more dependable way to unlock sizeable returns as it skyrockets into the multi-millions.<\/p>\n

Don\u2019t Miss: Meme Kombat Price Set to Increase Today as Presale Smashes $1,375,000 in Funding <\/strong>