What we can learn from the $WOO chart

Hello everyone, in my articles I am often talking about $WOO. $WOO is the governance token for Wrestling Organization Online, so in other words the more $WOO you have, the more you could weigh on the future decisions of WOO. At the moment it will be more of an utility token for the WOO game when it's launched, which should happen in the coming week. But I think it's an interesting moment to have a look at the chart of the $WOO token. You can view it on above mentioned picture.

As you can see the price was hovering around 0.0006 hive for quite some time. At that moment, I thought it would be quite stable. Than at the beginning of September, the city upgrades were suddenly available and as that was a sink for the $WOO token, the price climbed immediatly. Probably partly because of the increased need and partly because of the anticipation that the price would climb, raising the demand even further. As it became clear that not everyone was upgrading his cities, some people decided to keep the $WOO to keep it staked and earn some stake rewards, the price started to slowly go down to the 0.0006 hive level.

Half October the price suddenly fell though the 0.0006 hive bottom level to around 0.0004 hive and even a bit lower. This came because of selling pressure of the issuers of the $DRIP token. They wanted to swap $WOO for $DRIP but @wrestorgonline didn't want to do the trade as they thought $WOO would be way more valuable in the future compared to $DRIP. So the issuers of $DRIP decided to just dump all $WOO. We will see who had it right in the future, but the massive dump of $WOO tokens at their lowest point don't give me confidence in the $DRIP token. Ofcourse this is a personal opinion and you don't have to agree with me!

The last days the token is slowly climbing again towards its 0.0006 hive level. In the WOO discord there are already some names fallen of who are buying massive amounts of $WOO. We'll what the price will do in the future ofcourse!

I hope you found this article about $WOO interesting and feel free to ask any questions about this token in the comments! Cheers!

What is WOO?

WOO, aka Wrestling Organization Online is an upcoming play2earn game on the Hive blockchain about wrestling. They aim to bring back territory wrestling, where the wrestlers are tradeable nft's. The launch for the game is aimed to be in Q3 of 2023. To be able to launch, they already sold out 60k WOOalpha packs through various sales through 2022. Their WOOAlpha general sale sold out in 99seconds! Besides the wrestlers and managers which could been found in the card packs, they also need cities (often called land plots, but in WOO, we talk about cities). For more information about the ongoing city sale, check out: https://peakd.com/hive-167922/@wrestorgonline/complete-woo-land-buying-guide

A lot could be said about WOO, to get more information about WOO in general, check out the posts of @wrestorgonline and make sure to join their discord: https://discord.gg/woogame