Volt Inu (VOLT) tanks by nearly 35% barely hours after listing on Hotbit

Volt Inu (VOLT) has announced it will be listing its token on the crypto exchange Hotbit. It’s a major move for the meme coin, but this did not translate into gains in the price action. Here are some highlights:

• As news of the listing started to come out, Volt Inu (VOLT) was down nearly 35% in less than 24 hours.

• At press time, the coin had paired some of these losses but was still down by a whopping 15%.

• Volt Inu (VOLT) is also planning to list on major CEXs including Bitmart and Singapore-based XT.

Data Source: Coinmarket.com

Volt Inu (VOLT) – Price action and analysis

In most cases, when coins list on major exchanges, they often skyrocket. But it seems Volt Inu is not following the script. As soon as the news broke, the token was already lower by 35%. 

There has been some recovery however as the day progressed. At the time of writing, the coin was down around 16%. VOLT also saw a surge in trading volume in the last 24 hours, rising by around 30%. 

We are also hearing that there are plans to list the meme coin on other major CEXs including Bitmart and Singapore based exchange Xt.

Is Volt Inu (VOLT) prime for investment now?

When meme coins list in some of the leading exchanges, they often tend to rise sharply. This is the case for VOLT. Although it’s the latest listing on Hotbit did not have major effects on the price action, when the token gets on platforms like Bitmart, we will see some advances no doubt. 

However, as with all meme coins, there is always a lot of downside risk with such tokens. It’s not the kind of crypto you want to be holding when the market is down. So, for short-term plays, VOLT is a decent crypto.