This is a 'classic' example of a chart which you should never ape into. Almost 70% of supply was bought at launch (bundle + top 10 holders) - which pushed price above 2M mcap. Then came the KOLs involved to shill this to their audience. Then you see the 'retail traders' begin buying on the calls by these KOLs, going from 10% supply control to 28% now. Price is still close to the same level as it was on day 1, but the cabal (KOLs and bundles) have already sold while retail is left holding.
𝕜ꪖ𝕣ꪮડꫝⅈShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.