Football Fan Tokens Performed Poorly During the World Cup – Here’s Why

  • ARG fan token hit a local top before the FIFA World Cup final.
  • BFT trades at all-time lows
  • SNFT lost around 90% during the Qatar World Cup tournament.

Football Fan Tokens surged substantially in expectations of the FIFA World Cup 2022. However, the tokens tumbled during the tournament. Fan tokens saw their prices reacting to their respective team performance.

For instance, Saudi Arabia’s win over Argentina and the latter’s success in lifting the Qatar World Cup trophy confirmed such tendencies. As a result, the ARG (Argentine Football Association Fan Token) soared to peaks before the final and has slumped since.

Furthermore, BFT (Brazil National Fan) declined massively following Croatia’s win to eliminate Brazil from the tournament. Also, Morroco’s win over Spain saw the SNFT (Spain National Football Team Fan Token) fall. Finally, Socios, which houses the fan tokens, saw its native coin, Chiliz (CHZ), underperforming.

ARG Peaks Before World Cup Finals

The Qatar FIFA tournament began on November 20 and ended on December 18. The ARD fan token hit its peak on November 18 but resorted to downsides as the World Cup began. The subsequent slump emerged on November 22, when Saudi Arabia shockingly defeated Argentina.

Nonetheless, ARD price gained approximately 180% between December 9 and December 16, and the national team obtained its ticket to the finals, following the win over the Netherlands, amidst a challenging quarterfinals clash.

While Lionel Messi and Argentina lifted the trophy on December 18, the ARG price slumped shortly after, authorizing a resistance line’s slop. That likely happened as holders withdrew their investments, which saw the daily Relative Strength Index plunging beneath 50, signaling a bearish trend.

Thus, ARG will likely dip to new all-time lows. Nonetheless, a breakout from the resistance level would cancel this downward projection.

Brazil Token Dips After Elimination

BFT also declined sharply during the FIFA World Cup. Surprisingly, the Brazil Fan Token price dipped despite successful results by the team. For example, the coin dropped after Brazil’s 2-0 win over Serbia on November 24.

Continued weakness saw it lose the horizontal support region of $0.50 before intensifying its slump. As a result, BFT declined by about 55% on December 9, following the team’s exit, welcoming new all-time lows of $0.05 on December 17.

Surprisingly, the token started upside actions 48 hours later but remained beneath the substantial resistance level of $0.20. Thus, the asses will likely dip to further lows unless it overcomes this hurdle. SNF Drops 60% Following Elimination

The Spain Fan Token has lost more than 90% since the FIFA World Cup began. Like BFT, SNFT plummeted by 62% following Morroco’s win on December 6. The fan token dipped to all-time lows that day, hitting $0.033.

Though NFT started an upside move on December 19, it remains well beneath the resistance mark of $0.09. Consequently, the alt exhibits a bearish trend. SNFT has to overcome the mentioned resistance. Meanwhile, the alternative token remains vulnerable to dipping to new all-time lows.

In summary, the World Cup end and national team performances heavily impacted fan tokens. Most assets peak before the tournament before plunging, highlighting the buy rumors & sell the news narrative. Meanwhile, ARG enjoyed another high before the finals before crashing as Argentina won the World Cup.