Home / Analysis / Crypto / PLUME Debuts Near Top 200 After Successful Airdrop

PLUME Debuts Near Top 200 After Successful Airdrop

Published
Valdrin Tahiri
Published
By Valdrin Tahiri
Edited by Ryan James

Key Takeaways

  • Plume had its token generation event (TGE) on Jan. 21
  • The cryptocurrency ranks #234 based in its market cap.
  • How will PLUME perform in the week of its launch?

Plume caught the attention of the market by raising $20 million  in its Series A funding round led by Brevan Howard Digital on Dec. 18, 2024. It describes itself as a Layer-1 that is purposefully built to secure Real World Assets (RWA).

Plume had its TGE on Jan. 21 and currently trades at $0.20 and ranks just outside the top #200 largest cryptocurrencies based on their market capitalizations.

With that in mind, let’s look at how the airdrop went and analyze the outlook for the next few weeks.

PLUME Airdrop

The PLUME airdrop has unlocked 2 billion tokens, which is 20% of the total supply of 10 billion. 700 million went to the community while the other 1.3 billion went to the ecosystem.

The community will not receive any more airdrops. Rather, the vesting schedule  shows that 3.56 million PLUME will be unlocked each day. In the end, the maximum supply will be divided as follows: 39% to the “Community & Ecosystem”, 41% to “Early Backers and Contributors” while the rest to the “Foundation” and to the “Community Airdrop”.

PLUME Movement
PLUME Airdrop Alocation | Credit: Cryptorank 

According to the Plume team , the season 1 airdrop will reward early adopters for their key roles in the development of the ecosystem. More specifically, those who will be rewarded are: Testnet users with miles, active community members and pre-deposit stakers.

Users can also defer their claims until the mainnet launch to receive an additional 66% of rewards added to their original allocations. Users can also stake their PLUME tokens for a 10% yield. While there is no exact date for the mainnet launch yet, more than 180 teams  have already joined the chain and are building on it.

Several centralized exchanges (CEX) have listed PLUME, and Bybit have added  a 40 million token prize pool for those that deposit and trade PLUME. Other exchanges that have listed it are BitGet, HTX and KuCoin.

PLUME Price Rises

While there is insufficient data to make a detailed PLUME price analysis, the price has increased since its launch, creating several higher lows and an ascending parallel channel. The movement inside the channel is likely a five-wave increase (white), where PLUME is in the fifth and final wave.

A likely target for the top of this increase is at $0.26, created by the 1.61 external Fibonacci retracement of wave four and the channel’s resistance trend line. In this possibility, the five-wave increase would end at the resistance trend line, leading to a correction afterward.

PLUME Movement
PLUME/USDT 30-Minute Chart | Credit: Valdrin Tahiri/TradingView 

Conversely, a breakdown from the channel will instead mean the upward movement is over. This could lead to a 40% drop to the closest support at $0.12.

The Road Ahead

PLUME’s airdrop was successful and there are no community complaints about it. The most likely PLUME prediction is an upward movement to $0.26, though a breakdown from the current pattern will put this at risk, possibly triggering a 40% drop to the closest support area.

Disclaimer: The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Was this Article helpful? Yes No

Valdrin Tahiri

Valdrin discovered cryptocurrencies while getting his MSc in Financial Markets from the Barcelona School of Economics in 2017. He has been an avid investor and trader since. Valdrin has written for several cryptocurrency media companies such as BeInCrypto and CoinGape.
See more