The SuperVerse token’s recent price action has caught the attention of traders and analysts alike. After a stunning surge to a monthly high of $0.94, the cryptocurrency has taken a sharp turn.
The sudden rally, fueled by the token’s listing on the South Korean exchange Upbit, sparked a buying frenzy among investors. But the swift ascent was followed by an equally dramatic plunge, with the crypto’s price plummeting by a massive 26%.
As the market struggles to find its footing, investors are left pondering what’s next for SUPER. Can the altcoin recover from this severe dip to a new all-time high, or will this plummet continue?
SuperVerse Token Price Plunges
After a massive rally of 80% from $0.50 to a monthly high of $0.94, the SuperVerse token faced a severe downtrend. Currently, the cryptocurrency is trading at $0.5996, down by about 26% over the past 24 hours, according to CoinMarketCap data. In addition, SUPER has experienced notable dips of 10% and 5% over the last week and month, respectively.
The SUPER token has experienced high volatility since its launch in 2022. Initially, it reached an all-time high of $3.70, but subsequently took a sharp dive, trading predominantly in the red zone with minor fluctuations. For most of the time, the token hovered around the $0.20 level. This trend continued till 2024, when it briefly surged to $1.99, only to plunge again and stabilize around $0.50. Recently, on September 29, the token saw another surprise surge to $0.94, but it has since dropped to $0.59.
Upbit Listing Pushes Price Up
Notably, the SUPER token’s recent rally was primarily driven by its listing on Upbit, the largest cryptocurrency exchange in South Korea. The token went live at 20:00 KST with trading pairs against the Korean won, Bitcoin, and Tether. To ensure stability, the exchange introduced temporary restrictions on market orders and extreme price movements. The token was listed with reference prices of approximately 730 KRW, 0.0000046 BTC, and $0.5168 USDT.
Concurrently, SUPER was also listed on OrangeX, offering spot and perpetual trading with up to 75x leverage. These dual listings opened up new markets and injected fresh liquidity into the token, resulting in a massive surge in trading volume. Within 24 hours, the volume skyrocketed to $401.7 million, representing a staggering 6,034% increase. The timing was opportune for traders, with speculative inflows pouring in as SUPER broke through key resistance levels that had previously capped its growth.
SuperVerse’s Growing Prominence in Web3 Gaming
In addition to the exchange listings, the SuperVerse also gained popularity with its growing prominence in the Web3 gaming sector. The recent integration of SUPER into Triumph Games’ multi-token treasury for Legend Elumia has expanded its utility, solidifying its position as a governance and payment asset within the gaming ecosystem. This development follows earlier partnerships, such as the integration with Hash AI in July, which incorporated SUPER into AI-powered mining operations. These advancements reflect a broader trend where altcoins linked to gaming and AI are gaining traction due to increased investor interest.
Why is SuperVerse Down Today?
Notably, the SuperVerse token is down today due to several major reasons. Primarily, the plunge aligns with the overarching negative sentiment of the crypto market. The crypto market has plummeted to $3.88 trillion, marking a dip of 1.14%. Top players like Bitcoin, Ethereum, and XRP have also seen notable downticks. In line with this market crash, the SUPER token has also seen a massive downfall.
Additionally, the traders’ sentiment has also significantly impacted the crypto price. While traders largely invested in the token during its uptrend, the activity subsequently plummeted. This negative sentiment has pulled the token price downwards, significantly impacting its price. Also, the increasing selling pressure and the failure to hold the buying interest have also impacted the rally.
According to expert predictions, the cryptocurrency is likely to hover around the $1 level in 2025. However, it is expected to skyrocket to an ambitious high of $5-$7 in 2030. But considering the volatile and unpredictable nature of the market, the future of SUPER remains uncertain.
