Sweet SOL (SSOL) Is Today’s Crypto Leader, but Is It Preparing to Drop?
The cryptocurrency market is dropping for the second consecutive day, with many major cryptos losing around 5% compared to their rates yesterday. However, a few crypto tokens are managing to make incredible gains, with Sweet SOL (SSOL) topping the list with its impressive 3035.55% rate increase over the last 24 hours.
What to Know about Sweet SOL?
The SSOL rate is at $0.00001212 (SSOL/USD) this morning, and its trade volume is just $81,372.05. That trade volume is actually down 14.07% over the last 24 hours, but we could be seeing a spike very soon as investors start to notice the sky-high rate increase on this one.
Sweet SOL launched late in March, and it has had an interesting path so far. It is described as a multilayer hyper-deflationary crypto token where mining tokens earns income. Users can either generate liquidity, burn tokens or reflect them, and simply holding onto tokens increases the number of tokens in your wallet.
This token is designed to generate value over time, as 1% of each transaction is burned off. Another 1% is sent to all token holders in a reflective action, and then 8% of every trade is put toward creating liquidity automatically.
We have seen some serious ups and downs for this crypto, but it has really only had a few ridiculously high rate increases so far, and it quickly loses the gains and falls back to the base rate quickly.
Should You Be Investing in This Crypto?
This crypto’s behavior is volatile and yet predictable at the same time. It’s expected that it will shoot up from time to time, but we can safely assume for now that these spikes will not last. There is a good chance that today’s skyrocketing rate will end quickly and send the price plummeting back down shortly. So, our advice is to not invest in it at this point but try a small investment after the rate drops. You may be rewarded with another massive rate increase in the near future.
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SSOL will hit $165 in near future. I have bought plenty of it.