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KITE Token Sees Wild Volatility: 24H Drop Masks Stronger Weekly Performance
KITE's price action tells two stories. The token shed 5.54% over the past day, yet weekly charts paint a different picture with gains pushing past 10%. What's driving this contradiction?
The chaos traces back to its recent exchange debut. When a major platform tagged it with their "Seed" designation, retail traders initially rushed in—then reversed course just as quickly. Classic post-listing turbulence.
But here's the real concern: tokenomics. With barely 18% of total supply in circulation, the fully diluted valuation sits at $929 million while actual market cap hovers around $197 million. That gap? It's massive. Some traders are now betting on a short squeeze, though the low float could swing either direction fast.
The setup screams caution for position sizing. Could volatility spike again? Absolutely.