A very young memecoin $TRENCHER showed a quite good growth rate for its 5-day existence, but immediately after this growth came a dump that continues to the current moment. In the past 24 hours, the token fell by 46%, and capitalization fell to $4.9 million.
Reasons for the dump:
Considering the resources of this token, our analysts did not notice any events that could lead to such a decline, accordingly, we can assume that the fall is caused by a loss of interest among the audience. We also cannot fail to note that the shilling of this memecoin on the social network X is presently extremely negative, reinforcing the mistrust from the community of holders further towards the further development of the token.
$TRENCHER Team:
Despite that the situation works against them, the team does not lose hope and attempts to assist the community with the best intentions, and holders are informed that this dump is just a correction.
Analysis of future of $TRENCHER:
After having learned everything about this token and having looked at the chart, we can assume that the chances of survival of the memecoin are negligible. The majority of their community already suffers in order to repair the minus and sell this token in order to recoup at least a portion of their money. Only a real miracle could turn all things in their favor, which, unfortunately, we do not see yet.
Conclusion:
$TRENCHER is not a very good memecoin, with a weak team and a negative community. Our analysts would not advise you to buy this token to make a profit at any distance (be it short or long). We continue to monitor the developments around $TRENCHER.
This article is not investment suggestion!
