SAVM Price Surges Almost 40% After KuCoin Listing

The recent surge in the value of the SAVM coin was triggered by the intention of KuCoin exchange to list the coin on its platform.

According to the charts provided by CoinMarketCap, the SatoshiVM coin experienced a tremendous increase in its value on Monday, February 26, which caused a considerable amount of excitement to spread throughout the cryptocurrency community.

When KuCoin was making preparations to list the token, this price surge of SAVM observed and quickly gained traction among traders and investors in the cryptocurrency market all over the world.

KuCoin, a well-known cryptocurrency exchange, recently disclosed that it intends to incorporate the SAVM/USDT trading pair beginning on February 26 at 9:00 UTC.

SAVM On-Chain Data Stirs Speculations

After that time, withdrawals for the same will be available starting on February 27 at 10:00 UTC. SpotonChain’s findings have led to further conclusions about it’s future price action.

As of publication, the token has been trading mainly in the green and has surpassed the $5 barrier today. Today, a wallet that most likely belongs to the SatoshiVM team transferred a staggering 40,000 SAVM equivalent to $22,000 into KuCoin.

SpotonChain disclosed this information. Speculators intensified debates on whether the team transferred tokens to provide liquidity or to sell them upon completion of the listing.

Furthermore, the fifth-highest SAVM holder purchased an additional 22,500 tokens with 100 thousand USDT, bringing the total amount of SAVM it possesses to 386,000 which is equivalent to $2.19 million.

This Crypto whale is currently displaying indications of an unrealized profit of $922,000, which has given rise to suspicions regarding enormous dumps that have the effect of lowering the price of of the token.

SAVM Price Pumps

The token, on the other hand continues its upward trend as of this publication. SAVM’s price has surged by 41.32% in the last 24 hours, currently trading at $5.66.

According to CoinMarketCap, the token’s market cap has not changed from its previous value of $38.99 million, nevertheless, its trading volume has experienced a remarkable increase of 360.51%, hitting $13.38 million.

The listing of KuCoin appears to have contributed to an increase in market optimism for the token, as the price of the token experienced a significant increase after the news of the listing.

Despite this, big SAVM whales have been following the token’s recent surge and massive selloffs to make profits may result in a shift in price behavior.

The SatoshiVM community announced in a recent post that a new feature is being prepared for implementation on the SatoshiVM Testnet.

This further demonstrates the community’s efforts to overhaul the cryptographic venture of the token, which has garnered positive attention among participants in the cryptocurrency market.