TREE Price Falls Over 50% After Binance Airdrop Announcement
TREE, the native cryptocurrency of Treehouse, has dropped over 50% following its launch and Binance's announcement of a TREE airdrop. This trend marks a challenging start for the token.
Key Points
- TREE launched trading on July 29 with a max supply of 1 billion tokens; currently, 186.12 million (18.6%) are in circulation.
- The airdrop allows eligible users to claim up to 100 TREE tokens starting this week, with claims open until October 27, 2025.
- As of now, TREE is trading at $0.53, amid a 200% increase in trading volume to $350 million.
- Increased selling pressure correlates with the price decline, raising concerns about further downside risk.
- Indicators suggest potential targets: if bearish momentum continues, TREE may drop to $0.30; however, a rebound could aim for $0.76 and potentially $1 if buying pressure increases.
Treehouse (TREE) Bearish Divergence – Source: Santiment
TREE Price Action – Source: TradingView