KAITO crypto continues its downward slide, with a further 9% drop over the past 24 hours. This new token, powering Kaito’s AI-driven search engine platform, continues to struggle.
The struggles for KAITO are made more apparent considering the rest of the market has begun to recover from the most recent dip. BTC and ETH up 4.2% and 3.5% respectively since yesterday, while KAITO is down 9.9% in the same time frame.
$KAITO SEEMS LIKE ITS DONE pic.twitter.com/d9g2ZPq6ML
— KNIGHT $INJ TO 100$ (@cryptoknight890) March 5, 2025
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Upbit Listing For KAITO Still Could Not Sustain A Pump
Yesterday (March 5), KAITO was listed on the Upbit exchange. This news was initially met with a lot of chatter and even a brief 35% pump following the exchange listing announcement.
The price at the time of the Upbit listing was roughly $1.50 and the Upbit news saw it rise to $2.06, per CoinGecko. However, the KAITO pump was short lived and it has since began retracing and is currently trading for around $1.72.
A further 15% drop from here will see KAITO fully retrace the exchange pump, taking it back to pre-announcement levels of $1.50. Due to it being a relatively new token, two weeks old today, KAITO doesn’t have the luxury of multiple long-standing support levels.
If $1.50 is lost, it will likely result in a free-fall toward $1, which would put it below its February 20 launch price of $1.40. KAITO holders will be waiting anxiously to see whether $1.50 is tested and if so, whether it holds.
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Funding Rate Catalyst The Last Hope To Stop The KAITO Free Fall?
Right now, the whole market seems to be short on KAITO. This has created unsustainable negative funding rates, whereby it is currently paying users to be short.
A short squeeze refers to a rapid increase in the price of an asset, primarily due to an excess of short selling. If a short squeeze is initiated on KAITO, holders can expect a violent spike upwards.
One recent example was Story (IP), which was suffering from negative funding rates for a few days before it surged over 300% in less than a day.
The lower the price of KAITO goes, more and more late shorters will jump on, thinking it is heading to 0. It will be at that point that any short squeeze will take place, liquidating those late shorters and spiking upwards in quick succession.
The market is extremely short on $IP , $BERA & $KAITO
The funding rates on these 3 has averaged > 100% in the last month
There’s a high likelihood of short squeezing
We saw IP recently surge 300% in a day and $KAITO last night on the @Official_Upbit listing
Now, I’m long… pic.twitter.com/5dg3eiG3zv
— AzOgZ (@AzOgZz) March 5, 2025
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KAITO crypto continues to fall, down another 9% on the day
- KAITO needs to hold $1.50 or it could slide to $1 and below
- Investors are shorting KAITO like crazy, which could create a short squeeze
- If a short squeeze occurs, a violent upward spike in price is likely, liquidating many of the late shorters
- Best Wallet (BEST) has undergone a huge security upgrade to its app. Also native Bitcoin now supported
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