KAITO Token Drops 24% After Ending Yaps Program Amid Policy Changes
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Token Price Plunge: The KAITO token dropped 24% on Friday after the development team announced the end of the Yaps program, with prices settling around $0.54, reflecting strong market reactions to policy changes.
- Policy Change Impact: The Kaito team decided to terminate Yaps to comply with new policies from platform X, addressing a surge in AI-generated spam that affected nearly 157,000 members of the Yapper community.
- Technical Indicators Show Downtrend: KAITO token fell below a key descending trendline on the 4-hour chart, indicating potential continued selling pressure in the short term, with technical indicators like MACD and Chaikin Money Flow supporting a bearish outlook.
- Future Outlook: Kaito plans to replace Yaps with Kaito Studio, a more selective tier-based marketing platform, and while prices may continue to decline towards $0.47, a rebound above $0.60 could signal an end to the current downtrend.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
