WalletConnect Price Crash Hits 42%—Bounce Soon or More Pain?

Why $WCT Token is Dropping Today? WalletConnect Price Crash 42%

It was one of the hottest tokens in May—but now, it’s one of the hardest hit. The walletconnect price crash shocked the crypto market this week after $WCT lost 42% of its value in just two days. 

$WCT Price Crash: Is WalletConnect Token Heading to $0.40?

What started as a powerful uptrend from $0.20 to $1.39 has suddenly flipped into a steep collapse. Panic has taken over, and now the big question is: was this a healthy correction—or a warning sign of something worse?

According to CoinMarketCap, $WCT saw its peak at $1.39 on May 30. But as of now, the token is trading near $0.61. In the past 24 hours alone, Upbit, South Korea’s biggest exchange, saw $558 million in WCT/KRW volume, accounting for 35% of global trades. Meanwhile, WuBlockhain also confirmed the same on its X account.

That’s massive—but not necessarily bullish. In fact, high volume during a crash usually signals mass exits.

Source: CoinMarketCap

Why WalletConnect Token Is Dropping Today

So, why is WalletConnect token crashing today after such a massive rally? The chart tells a clear story: a classic blow-off top followed by a wave of panic selling. The final candle on May 30 was a huge red one—clearly signaling distribution by early buyers who cashed out at the top.

Source: TradingView

TradingView data shows a massive volume spike on May 31, with over 200 million WCT tokens sold. This confirms strong bearish pressure, with investors exiting rapidly amid zero new fundamentals from the official team to support the rally.

As a crypto writer and chart analyst, I can say this is not unusual. After a parabolic rally, tokens often cool off fast—especially meme-like tokens or low-fundamental hype plays. Unless a strong update from the WalletConnect ecosystem emerges, further correction is likely.

WCT Chart Analysis: Breakdown of Key Levels

Let’s break down the WCT chart analysis step by step.

• The altcoin rallied from around $0.20 in April to $1.39 by the end of May. That’s a 7x move in 5 weeks—unsustainable by most standards. Once it hit $1.39, heavy sell pressure kicked in. As of now, it is sitting just above its 25-day moving average at $0.6250, barely holding.

• If that support breaks, the next key zones are $0.40 (mid-May breakout level) and then $0.20, which was its launch base. 

• The 7-day MA is now far above price at $0.8597, confirming the short-term trend is deeply bearish.

• Immediate resistance sits around $0.85–$1.00. Only a clean breakout above $0.85 can flip the sentiment back to bullish. Until then, the bears are in full control.

WalletConnect Price Prediction : What To Expect Next?

After the 42% crash, many investors are wondering about the WalletConnect token price prediction going forward.

Right now, it is near oversold territory on the RSI (likely around 30), so a minor bounce to $0.70–$0.75 could happen if bulls defend $0.60. But make no mistake—unless it reclaims $0.85, the trend stays bearish.

If $0.60 breaks, we could be looking at a quick drop to $0.40, and in the worst-case scenario, a retest of $0.20. This zone was the original base, and many early buyers may still be in profit.

Final Thoughts: Rug Pull or Market Shakeout?

The walletconnect price crash has left the community split. Some call it a healthy correction. Others wonder if something shady is going on. 

Only time—and price action—will tell. But if the WCT token doesn’t reclaim $0.85 fast, it might not just be a crash, it could be the start of a slow rug.