$Q Today's price action feels a bit like a place that usually has no line, but today the queue suddenly wraps around the corner. The current price is 0.0422, up +40.78% in a day, climbing from 0.0295 to 0.0435.
Standing at the entrance, you'd wonder about two things: Is the food really that good, or did they hire people to make it look busy? The 184 million in trading volume is like the number of people in line—there are definitely lots of them, but how many came for the food and how many for the spectacle? You won't know until the crowd thins out.
My usual approach is not to push my way in when the line is at its longest. I just watch two levels: 0.0295 is where today's crowd started gathering. If the price falls back there after the rush dies down, it was just a passing fad. 0.0435 is today's high; if the price can hold above it, then we'll know there are real repeat customers.
A lively crowd and a thriving business are two different things.
#Q
Standing at the entrance, you'd wonder about two things: Is the food really that good, or did they hire people to make it look busy? The 184 million in trading volume is like the number of people in line—there are definitely lots of them, but how many came for the food and how many for the spectacle? You won't know until the crowd thins out.
My usual approach is not to push my way in when the line is at its longest. I just watch two levels: 0.0295 is where today's crowd started gathering. If the price falls back there after the rush dies down, it was just a passing fad. 0.0435 is today's high; if the price can hold above it, then we'll know there are real repeat customers.
A lively crowd and a thriving business are two different things.
#Q