$PEPE
The news that Brother Sun bought $100 million worth—I didn’t immediately think I should follow suit. Some people see one number and buy a little too. But his $100 million goes in to lift his own boat; you put in a bit of pocket money, and you’re helping carry someone else’s sedan chair.
Right now it’s up 5.7%, and 14% over 7 days. Trading volume is a little more than twice the usual level, so the price action and volume do look convincing. But think carefully about the on-chain market: how much a whale buys doesn’t determine how high the price can go. That depends on how many people are still willing to chase in at a higher price than you. In the end, the story often turns into a group of people pooling their money to lift someone who’s already on board way up, all for the sake of a little spare change.$PEPE
The news that Brother Sun bought $100 million worth—I didn’t immediately think I should follow suit. Some people see one number and buy a little too. But his $100 million goes in to lift his own boat; you put in a bit of pocket money, and you’re helping carry someone else’s sedan chair.
Right now it’s up 5.7%, and 14% over 7 days. Trading volume is a little more than twice the usual level, so the price action and volume do look convincing. But think carefully about the on-chain market: how much a whale buys doesn’t determine how high the price can go. That depends on how many people are still willing to chase in at a higher price than you. In the end, the story often turns into a group of people pooling their money to lift someone who’s already on board way up, all for the sake of a little spare change.$PEPE