Kaito Shuts Down Yaps Product, Market Cap Drops to $185 Million
- Product Shutdown Impact: Kaito's decision to close its Yaps product due to losing access to the X API has resulted in a market cap drop to $185 million, nearing all-time lows, highlighting the severe challenges faced by InfoFi projects.
- Loss of Social Media Incentives: The closure of Yaps eliminates incentives for influencers and users to post on social media, prompting Kaito to shift towards stricter content curation aimed at enhancing engagement from high-quality creators.
- Changing Market Environment: Kaito's founder noted that despite experimenting with various incentive designs, the overall performance of InfoFi projects has suffered due to X platform algorithm changes and the prevalence of low-quality content, undermining market confidence.
- Uncertain Industry Outlook: Kaito still values the creator market at $20 billion and plans to explore new marketing strategies despite the challenges, aiming to adapt to the evolving market landscape.
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Technical Analysis for KAITO
Technical Sentiment Analysis for KAITO (KAITO) As of , KAITO (KAITO) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for KAITO stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, KAITO is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
KAITO (KAITO) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.135 | 0.201 | 0.27 | 0.335 | 0.404 | 0.469 | 0.538 |
| Fibonacci | 0.201 | 0.252 | 0.283 | 0.335 | 0.386 | 0.417 | 0.469 |
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