- Whale’s $301K $BC purchase triggered a sharp 87% price rally in just 24 hours
- $BC trading volume surged over 8,700%, reflecting short-term hype and speculation
- RugCheck warns of structural risks, raising doubts over $BC’s long-term sustainability
In a surprising turn of events, BC.GAME’s native token $BC witnessed an explosive rally this week. The sharp rise followed the platform’s launch of a 1 billion $BC daily rebate program in early May. The gaming-focused Web3 platform suddenly drew massive attention after a whale created a new wallet and purchased a large volume of $BC.
This move, paired with surging trading volume, pushed the token’s price up by over 75% in just 24 hours. While momentum appears strong, there are rising concerns about the token’s integrity and long-term sustainability.
Whale Activity Fuels Sudden Price Surge
According to Lookonchain data, the wallet address labeled “5Ke1QA” made headlines after spending 1,704 $SOL, worth around $301,000, to purchase 53.88 million $BC tokens. This aggressive move came shortly after BC.GAME’s rebate program went live, suggesting a calculated entry.
As a result, the price of $BC soared to $0.007419, marking an 87% increase from its previous levels. Market capitalization also crossed $78 million, reflecting newfound interest.
Moreover, the 24-hour trading volume skyrocketed by an astonishing 8,767%, climbing to nearly half a million dollars. These metrics indicate that market participants are either betting on further growth or riding the momentum for short-term gains.
Technical Outlook: Support and Resistance Levels
From a technical perspective, $BC’s sharp price spike stands out after a prolonged period of sideways movement. This kind of price behavior is often triggered by a large buyer or coordinated efforts to influence market perception. Support now lies between $0.0050 and $0.0052, which may act as a cushion if the price begins to retrace.
On the flip side, immediate resistance is seen near $0.0075, with the next psychological barrier placed at $0.01. Breaking past this level would require sustained buying and broader market support.
Red Flags and Investor Caution
Despite the enthusiasm, multiple risk indicators have been flagged. RugCheck issued a warning highlighting several structural risks tied to the token’s design. These concerns include potential price manipulation and questionable tokenomics, which may not support long-term growth.
