Trust Wallet: Is A Correction in Sight For TWT After Rising 150% in 7 Days?

Vinod Dsouza
twt token trust wallet

Trust Wallet token (TWT) is the star of the ongoing bear markets as leading cryptos plummeted due to the FTX-induced crash. TWT held strong despite the market turmoil and skyrocketed 145% in the last 14-trading days. Since the last week alone, TWT doubled investors’ money by phenomenally rising 120% in the indices. On Thursday, the token is up double digits yet again shining in all its glory at 20%.


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The token surged after FTX filed for Chapter 11 bankruptcy and Binance CEO CZ took to Twitter to highlight Trust Wallet. The phrase ‘not your keys, not your coins’ rang a bell among investors who flocked to Trust Wallet thereon. Trust Wallet is a non-custodial app that allows users full control of their keys, seed phrases, and crypto assets.

TWT is attracting heavy bullish sentiments and investors who took an entry position in early November are reaping all the profits. The crypto is showing no signs of cooling down and touched its all-time high of $2.71 on November 14.

Now the question arises: Will the Trust Wallet token spike further in price or face corrections hereon? Let’s find out!

Also Read: 3 Cryptos to Watch During Mid-November 2022

Trust Wallet Token (TWT): Will it Spike Further or Face Corrections?

Source: Trust Wallet

Metrics and on-chain analytics firm Santiment stated that TWT’s transaction volume is currently “very high” and a round of “cooldown period” is well within the realm of possibility. According to the metric firm, TWT has reached its peak and is overvalued at the moment.

The firm predicts that a sell-off period is around the corner that could take its price down as investors indulge in profit booking. New users who enter TWT now should be cautious as the token has already touched the top and might begin to cool down.

Source: Santiment

“We can also see that mid and large-tier TWT addresses have been growing quite steadily in number. And certain tiers like the 10,000 to 100,000 [addresses] and one million to 10 million addresses, have really upped the amount of addresses in the past week,” said Santiment.

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At press time, Trust Wallet token was trading at $2.30 and is up 20.3% in the 24 hours day trade.