Metaverse NFT coin SWAK shoots up 142%: here is the reason why

Metaverse NFT coin SWAK shoots up 142%: here is the reason why

By Charles Thuo - min read

SWAK's price is currently skyrocketing. It has jumped 142.82% today hitting a daily high of $0.0001298 and a daily low of $0.00004998 in the last 24 hours.

Currently, SWAK is trading at $0.000122 with a 24-hour trading volume of $627,455.

However, the market cap and the circulating supply are not yet available, but the maximum supply is $10 billion SWAK coins.

But why is the SWAK price rallying? Let’s take a deep dive to see what all this is all about.

What is SWAK?

Before delving into why SWAK made such a huge surge today, let’s first explain SWAK is for those who are coming across it for the first time.

In a nutshell, SWAK is an OpenSea NFT collection stored on the Ethereum blockchain that features several unique (10,000) collectibles with ownership proof.

SWAK comes from the reversal of the word KAWS, which is a modern art brand by Brian Donnely featuring Mickey Mouse's character.

KWAS has had great influence great in major shows at the Brooklyn Museum New York, the Yuz Museum Shanghai, and the National Gallery of Victoria in Melbourne Australia.

The SWAK NFTs generate the images arithmetically all of them featuring 24*24 pixels, with most of them featuring similar styles and rarer NFT brand names like NorthFace, Dior, and Nike.

Why is SWAK price skyrocketing?

After SWAK was launched yesterday, 31st January 2022, today it jumped 70%.

The huge price surge came roughly two hours after its listing on CoinMarketCap; which is one of the main reasons for the recent price hike as is the case for almost all coins after they are listed on CoinMarketCap.

Currently, the floor price for one SWAK NFT is 0.06 ETH ($164).  However, rarer SWAKs can be purchased for 0.075 ETH, this features extra styles and attributes.

Besides, SWAK token listing on CoinMarketCap, the SWAK NFTs were already available on OpenSea two weeks earlier, with over 100 NFTs sales and 114 ETH ($300k) traded.