Gala Price Drops 12% Despite Coinflow Google Pay Integration. Is GALA Going To Zero?
This morning the GALA price dropped 12% from a high of $0.02131397 to $0.01880181, posting intraday losses heavier than the two market leaders, Bitcoin ($BTC) and Ethereum ($ETH).
Gala’s descent has since slowed. At the time of writing its current price of $0.01947 represents a 24-hour loss of 4.2%, although it has grown by 10% in the last 7 days.
The token’s erratic price movement came after yesterday’s announcement that Gala Games is integrating Google Pay and Apple Pay into its gaming ecosystem.
Still, Gala’s intraweek performance outpaced Bitcoin, which is only 1% pricier than it was last Wednesday at its current price of $60,084. Ethereum actually lost 2% over the week and currently trades at $2,531.
Gala ($GALA) is the ERC-20 utility token powering the Gala Games ecosystem, where it serves as tender, facilitating in-game purchases, rewards, and community engagement. It’s also a governance token, giving every holder a voice in the platform’s development.
According to the price chart over the last 3 months, Gala has been trading between fairly narrow margins of resistance (red line) and support (green line). While the price is falling right now, a rising relative strength index (RSI) of 49 could push prices in the green by tomorrow.
Going into the weekend, the token is unlikely to drop below $1.50, where it has strong support.
While Web3 gaming platforms and tokens like Gala’s $GALA are still finding their feet creatively, one timely presale is attracting hundreds of thousands for its Olympics theme and its intriguing buy-to-win gaming experience.
Dubbed crypto’s official Olympics meme coin by degens, The Meme Games ($MGMES) has already raised $400,400.
Those who buy $MGMES tokens now are prompted to select their
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