Following Argentina’s historic victory in the FIFA World Cup final on Sunday, the value of the Argentina ARG toke has taken a beating, which was previously fallen by 50% in hours.
But experts still believe that the current track in the price is expected. The token, previously plunged by 50% in hours, is expected to be recovered a reach the $6.65 mark by the end of 2022.
The stablecoin ARG/USD, which was last time trading at around $3.20, was dumped from $6.0 just before the start of the world cup final.
The token now has touched the recent low at the $2.60 area.
What is ARG Token and Why Has Its Price Declined All of the Sudden?
ARG token is a cryptocurrency developed by Socios.com. All those football fans who own this token can develop personalized ties with Argentina’s national team.
Moreover, those who own this token can also participate in the Argentinian FA’s crypto-related decisions.
In other words, the ARG token is a governance token. The price of the ARG token declined due to ARG’s loss at the hands of Saudi Arabia.
As a result of this loss, the critics raised strong speculation about whether the team could win the world cup.
But there were other factors behind the decline of the ARG’s price. Argentine’s poor economic growth and the ever-rising inflation is the primary reason the price of ARG token rapidly declined.
Following all these reasons, traders were under immense selling pressure. This enormous selling pressure has helped bears to drag the bulls down.
But once Argentina reached the final due to the positive market sentiment, the token’s price remained at the $3.20 mark.
Now that the country has won the tournament and market sentiment has become irrelevant, the price of ARG tokens further declined and reached a new low.
The extreme continuous economic difficulties and hyperinflation in Argentina have almost paralyzed the whole country.
Moreover, the fans need more cash to spend on such an initiative, so most people have sold ARG tokens.
When people are reluctant to invest in ARG tokens, the price declines dramatically.
Even though the token has the potential to regain its price, the current economic crisis will only become intense, and this will not let ARG rise again.
So, what is next for ARG Token?
Following the volatile nature of the cryptocurrency market and the intense economic crisis, it is impossible to predict what is next for the ARG token.
Apart from the currency market troubles, the ARG token also has a volatile history. Even its price trend throughout the world cup has been very volatile.
However, the market indicators show that a price rebound is possible. But investors need to remember that it will be impossible for the cryptocurrency to go beyond $5.20.
The chances are high that the crypt token may move between $3.70 and $5.20.
Moreover, the CoinMarketCap analysis suggests that the recovery to $6.65 is only possible by the end of 2023.
There is no denying that Argentina’s national football team has a global portfolio and global fan following. But those who invest in crypto do not seek anything but profits.
The current economic indicators of Argentina’s economy show that it is impossible to earn substantial profits by investing in ARG fan tokens.
That is why selling pressure is very high on the token. Bears are banging the market and continue to do so.
So, now is the time to avoid investing in ARG tokens.
But some other altcoins offer lucrative benefits and are now available at low prices because they are in their presale phase.
Crypt tokens such as D2T, RIA, and FGHT are good investment opportunities. You can buy these tokens at discounted prices.
These tokens’ prices are expected to go high when their presale round ends. Investing in these tokens now is the best way to earn profit later.