Why Basic Attention Token Both Fell and Jumped Today

The cryptocurrency token known as the Basic Attention Token (CRYPTO: BAT) is very volatile today, swinging between the extremes of $1.52 and $1.71 per token. That's a top gain of 7.5% and a maximum loss of 6.7% compared to the token's price at 4 p.m. ET on Sunday. As of 11:25 a.m. ET, Basic Attention Token (BAT) had settled down at a 24-hour decline of 2.6%.

BAT has also been volatile across the Thanksgiving weekend, swinging between $1 and $1.86 per token at trading volumes many times the daily average.

The token appears to be rising and falling on market momentum, backed by a growing chorus of social media voices. BAT has become a favorite of the meme stock crowd, which sets it up for radical price swings for no obvious reason. It's like the second coming of the Dogecoin craze, centered around a different cryptocurrency.

Source Fool.com