Strike Token Spikes, Then Plunges as Upbit & Bithumb Delist
Strike token spiked 289% on July 23 ahead of its scheduled delisting by Upbit and Bithumb on August 21. This pre-delisting rally defied typical patterns as investors rushed in on speculation.
Following the peak at 29,590 won, Strike token plunged 17% to 20,820 won when delisting news weighed on the market. Upbit and Bithumb cited liquidity concerns and regulatory risks in their removal announcements.
Investors should withdraw STRIKE tokens before August 21 and store them in secure wallets. Post-delisting liquidity will thin, limiting trading options. Traders must monitor order books, trading volumes and regulatory updates. In volatile crypto markets, due diligence, liquidity checks and diversification are vital to manage risk.
Bearish
The combined news shows a classic pre-delisting spike followed by a sharp sell-off, indicating short-term volatility and weakening market support. In the short term, speculative buying drove the 289% surge, but the subsequent 17% drop after delisting announcements underscores immediate bearish pressure. In the long term, reduced liquidity and diminished exchange access on Upbit and Bithumb will likely constrain trading depth and hinder price recovery, making the overall outlook bearish for STRIKE token.