Argentina Fan Token Price Prediction as ARG Token Falls 50% Almost Instantly – Here’s What Happened
In a reaction that perplexed many cryptocurrency traders, the price of the Argentina Football Association Fan Token (ARG) has been battered in wake of Argentina’s historic triumph in the FIFA World Cup final on Sunday. At one point, it had dropped over 50% in a matter of hours. Iconic Argentinian footballer Lionel Messi, widely regarded as one of, if not the best footballer of all time, led his side to victory in a thrilling final that was ultimately decided on penalties.
ARG/USD was last changing hands around $3.20, having dumped from around $6.0 prior to the world cup final. The token is for now finding support in the form of recent lows in the $2.60 area.
ARG, a token issued via Socios.com’s consumer-facing platform that offers its owners an enhanced fan relationship with the Argentinian team, as well as tokenized influence on the Argentinian FA’s decisions, had previously rallied on key time victories, such as the semi-final win over Croatia. Meanwhile, ARG had slumped earlier in the tournament on Argentina’s shock defeat to Saudi Arabia.
Traders were thus at a loss as to why the token would come under so much selling pressure in wake of Argentina’s first world cup final victory since 1986. Perhaps the token’s price had been artificially pumped by speculators in the run-up to the final, and now that Argentina has won, perhaps those speculators are keen to dump their tokens on Argentina fans. The problem is that, amid Argentina’s severe ongoing economic woes and hyperinflation, the majority of the country’s fans probably don’t have much spare cash to be throwing around on speculative assets like the ARG token.
It is incredibly difficult to predict what is next for the ARG token, given its highly volatile history and
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