TOWER Skyrockets 100%+ on Animoca Buyback Buzz – What’s the Next Moon Target?

Animoca Brands just lit a rocket under TOWER – and traders are scrambling for seats. The gaming token doubled overnight after the Web3 giant announced a aggressive buyback plan. But can the hype outlast the typical crypto pump-and-chill cycle?

Buyback bonanza fuels frenzy

When a heavyweight like Animoca starts scooping up its own tokens, the market pays attention. The 100% surge smells like classic buyback FOMO – though skeptics whisper about 'tokenomics theater' propping up prices. (Hey, it's crypto – every rally needs a villain.)

Gaming tokens: volatile by design

TOWER's rollercoaster ride highlights gaming tokens' bipolar nature. One minute you're weathering a 70% bear market plunge, next you're catching a buyback-driven moonshot. Pro tip: pack Dramamine if you're riding this sector.

Just another day in the metaverse casino – where the house usually wins, but today the degens are cashing chips. Will TOWER stabilize at new heights or become another 'buy the rumor, sell the news' cautionary tale? Place your bets.

Today’s token surge has far surpassed its weekly and biweekly gains. The token has been on the rise; going up by 60.3% in the past week and 40.9% in the past two weeks.

Even its daily trading volume has enjoyed a significant increase following the recent price surge. Data from CoinGecko shows that the daily trading volume for TOWER has gone up by 241.9% compared to just one day prior. This represents a recent rise in market activity following the buyback announcement.

How high will the TOWER rally climb?

Considering Tower’s Wreck League has managed to become the number one trending game on the Base App and Farcaster, the utility game token has already been on the rise since the beginning of the month.

In the past 30 days, the token has gone up by 157.6%. At the beginning of August, just before it dropped into a slump, the token suddenly spiked. This meteoric rise represents news of the buyback plan initiated by parent company Animoca Brands, which seemed to add fuel to the already brewing fire.

The buyback, seen as a vote of confidence from one of the most influential figures in Web3 gaming industry, has triggered renewed investor interest in TOWER, particularly as it remains a micro-cap token with a relatively small market cap and low liquidity. This means that the token is highly responsive to even modest market activity.

As the token’s price is headed towards the $0.001 mark, the question becomes whether this rally can sustain itself or if the spike will be short-lived. The upward trend might continue, but it WOULD require strong follow-through: significant buyback volume, ongoing liquidity inflows, and tangible user demand within Crazy Defense Heroes or other connected games.

What is TOWER?

TOWER is a utility and governance token of the Crazy Kings and Crazy Defense Heroes mobile game series, developed by Animoca Brands. It is part of a broader effort to merge traditional mobile gaming with blockchain-based game economies.

It serves multiple purposes within games, including to buy and upgrade NFTs in-game, governance, play-to-earn, as well as for staking and rewards.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.