📉 Why Is KGeN (KGEN) Price Down Today?
$KGEN (KGEN) is trading 7.8% lower in the last 24 hours, despite showing extremely high trading activity. The key reason behind today’s decline appears to be heavy profit-taking and short-term selling pressure. While volume has surged to a massive $570.57M, up 102.07%, this spike is not purely bullish. In many cases, such unusually high volume during a down move signals distribution, where early buyers exit their positions.
The Vol/Mkt Cap ratio of over 1,400% strongly indicates aggressive churn between buyers and sellers. This level of activity often leads to volatility and temporary price corrections. Additionally, only 198.67M KGEN is currently circulating out of a 1B total supply, and the FDV ($199.32M) remains much higher than the market cap ($39.6M). This valuation gap can make traders cautious, especially during high-volume sessions.
Despite the dip, KGEN still has a solid holder base of over 20.7K wallets, suggesting that today’s move may be a short-term correction rather than a long-term weakness.
Visit- cryptopresalenews.com
