SWEAT price drifts higher as the new giveaway gets underway

Sweat Economy (SWEAT/USD) price drifted upwards this week after the developers announced a unique giveaway for its users. The token rose to a high of $0.0097 on Wednesday, which was about 20% above the lowest point in March.

Chief Walking Officer

Sweat Economy, a leading player in the move-to-earn industry, annnounced that it was offering a giveaway to a lucky winner. The winning participant will win a year’s salary valued at $24,000. They will be given the title of the Chief Walking Officer.

Participants interested in the deal will need to opt in to the prize draw with 25 $SWEAT tokens and 1$SWEAT token as a fee. The promotion will run between April 3rd and April 16 of this year.

After the promotion ends, the lucky winner will receive 2000 USDT per month for 12 months. They will also need to walk for at least 5,000 steps every day. According to the statement, the winner will be announced in a livestreamed event on April 17. This is a unique way for boosting the popularity of Sweatcoin’s ecosystem.

For starters, Sweat is one of the leading players in the Web3 and fitness industries. Users need to download and install the app and then earn $SWEAT tokens whenever they walk or run. It aims to incentivise more people to have an active lifestyle.

Sweat has been highly popular among users. It still ranks high in the fitness category of the Android and iOS ecosystems. Also, its app has gained over 120 million users, making it bigger than StepN, another pioneer in the move-to-earn industry. Over 15 million people hold the $WEAT token.

The developers hope that SWEAT will have more utility in the coming months. Some of this utility will come by integrating features like non-fungible tokens (NFT) and 

Sweat Economy price prediction

SWEAT chart by TradingView

So, is it safe to buy SWEAT? The SWEAT crypto price has moved sideways in the past few months as the enthusiasm for the token waned. On the 4H chart, the token managed to move slightly above the 25-period moving average. Its overall trading volume has dropped while the Relative Strength Index (RSI) drifted above 50.

Therefore, the token will likely have a bullish breakout as the Chief Walking Officer giveaway continues. If this happens, the next key level to watch will be at $0.010, which was the highest point on April 1. This price is about 8% above the current level.