Some tokens can shed 90% of their value in an hour and still have another 70% drop waiting after a fake bounce.
You have probably been there, buying what looks like support only to realize the floor just vanished and your position is underwater in minutes.
I was reviewing $IRYS today. It crashed 90% in one hour, saw a brief recovery that likely caught some dip buyers, then fell another 70%. $BTC and $ETH were stable the whole time so this was not a market move. It was a classic low liquidity dump where one big sell can cascade through empty order books.
The bounce is the trap most people fall for. Once liquidity dries up these tokens do not recover quickly if at all. Watching the charts in real time it was obvious the sellers were not done.
Have you ever sat through a dump this violent and still held hoping for a miracle?
#CryptoRisks #OnChain #TokenDumps
You have probably been there, buying what looks like support only to realize the floor just vanished and your position is underwater in minutes.
I was reviewing $IRYS today. It crashed 90% in one hour, saw a brief recovery that likely caught some dip buyers, then fell another 70%. $BTC and $ETH were stable the whole time so this was not a market move. It was a classic low liquidity dump where one big sell can cascade through empty order books.
The bounce is the trap most people fall for. Once liquidity dries up these tokens do not recover quickly if at all. Watching the charts in real time it was obvious the sellers were not done.
Have you ever sat through a dump this violent and still held hoping for a miracle?
#CryptoRisks #OnChain #TokenDumps
