Skale Crypto’s Sky-High Surge: A 40% Crash Looms? Dig In!

Skale Surges Post-It Remains Launch, Faces Potential Correction

Skale‘s crypto SKL has seen a massive spike this week, hitting highs unseen as early February. The catalyst? The launch of It Remains, a game set to make waves in the gaming industry, now live on Skale’s platform.

This move pushed SKL up 170%, placing it among the top-performing cryptos recently. The surge came wiht a 24-hour trading volume of $780 million, dwarfing its market cap of $280 million.

The rise in value aligns with the growing生态系统 on Skale. There are 129 games on the network. In the past month, over 3.9 million wallets interacted on Skale, up 23%. The network processed more than 107 million transactions, surpassing rivals such as Sei and BSC.

However, analysts warn of a potential downturn.Here’s why:

• Crypto market sentiment has soured, partly due to strong U.S. inflation numbers triggering liquidations. Bitcoin and other altcoins saw declines, which may affect SKL.
• The initial buzz around It Remains might fade, leading to profit-taking.
• Technical indicators show SKL becoming overbought, raising the chance of a price pullback.

A pullback could drop the price towards $0.027, a 40% correction from current levels. Investors should weigh these factors carefully.