GRASS Token Struggles to Surpass $2 – Should You Consider Buying Now?

The GRASS token, part of the emerging DePIN landscape, has garnered considerable attention from both analysts and investors. Operating as a Layer-2 platform on the Solana blockchain, Grass enables users to share unused internet bandwidth for training AI models through a convenient browser extension. Given its innovative technology, the excitement surrounding its token launch and airdrop on October 28th was palpable.

Despite some challenges during the airdrop, including a three-hour outage, the token experienced a significant price surge. It reached a peak on October 29th and continued to climb impressively from October 31st to November 2nd, surpassing the $1.50 mark.

After reaching a high of $1.9175 on November 2nd, the price has since stabilized, hovering around the $1.45 level and settling below $1.75. The GRASS token has struggled to break through the $2 barrier, prompting analysts to suggest a potential for further pullback. So, is now the right time to consider buying?

A total of 1 billion GRASS tokens were issued, with 10% allocated to early supporters and contributors. While it’s still early to fully gauge the impact of recent challenges on GRASS, the token initially performed well in terms of pricing.

Given the current bearish momentum and the presence of a liquidity pool at $1.56, traders and holders may anticipate a price drop below $1.75. Swing traders and new buyers looking to enter the market might consider waiting for the token to retest levels around $1.56 or even $1.40.