SOS token went up 1000% in 2-days; How high can it go from here?

Vinod Dsouza
SOS Token Airdrop by OpenDAO
OpenDAO airdropped SOS Tokens to users on Christmas eve.

OpenDAO basked in the limelight during Christmas and became the Santa Claus of the crypto market with their SOS airdrop. NFT collectors are thrilled with OpenDAO’s airdrop and posted screenshots of the SOS Tokens they received on Twitter.

What Is OpenDAO’s SOS Token?

OpenDAO launched a Christmas surprise through SOS Token and airdropped it to all wallets that previously transacted on OpenSea platform. Therefore, the more amount you’ve spent on the platform, the more number of SOS Tokens you could receive in return.

Data shows that close to 240,000 wallets received SOS Tokens by OpenDAO crossing a market cap of over $200 million. The airdrop was made on Christmas eve and wallets received SOS Tokens based on how much they’ve spent on NFTs in OpenSea.

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However, investors had to pay gas fees on Ethereum to claim their airdropped tokens. In addition, tokens have a cap until June 30, 2022, and if unclaimed by then, they’d return to DAO’s treasury.

The process to claim the tokens is pretty simple and straightforward. Users connected to OpenDAO with MetaMask can add SOS Tokens to their wallet by just hitting the ‘Add SOS’ button. The tokens will then be sent users’ Ethereum wallet address.

Minutes after the airdrop, SOS Token skyrocketed +1,000% in two days and became the largest gainer on CoinMarketCap, literally overnight. The NFT platform OpenDAO became the talk of the town and its buzz was all over social media during Christmas.

On Boxing Day, its market cap breached the $321 million mark and its Discord grew to 50,000 members. Their number of followers on Twitter also shot up to 118,000.

SOS is the most sought-after token this week and everyone wants to get their hands on the development. The hype and buzz surrounding the token is still alive and would continue throughout the week.

How High Can SOS Token Go From Here?

The token is just a baby in the crypto market and its only two days since its inception. The hype and buzz surrounding the token is still alive but getting in comes with its own risks. There’s no much data available about the token’s prospects and is now left to gamble with the prices.

Despite spiking +1,000% in just two days, the token is now down -30%. SOS is also down -47.1% from its all time high of $0.00001108 on Christmas Day. It is advised to wait and watch about upcoming updates on SOS as it spiked heavily and is facing corrections.

At the time of publishing, OpenDAO’s SOS Token was trading at $0.00000587 and is down -29.1% in the days trade.