$AKE is Akedo’s coin, an AI game-creation platform. Just yesterday, people were saying it had structurally collapsed, down 98.5% from its high. Today, it’s turned around.
Here’s what happened: it surged sharply around midnight, then got knocked back down; a spike wiped out a batch of traders. In the morning, it hovered around 0.0021–0.0025, then shot straight up at midday, doubling in four hours and gaining 137% in 24 hours. The team had a small update today: point redemptions have resumed. But that alone couldn’t fuel a doubling—the real fuel was yesterday’s shorts. As the price crashed, short positions piled up, bunching together and becoming fuel for the rally.
The impact is immediate: short sellers got liquidated in a cascade, while buyers chasing the rally have also been shaken out by two wicks of around 20%. It’s a meat grinder now. But the overhang hasn’t changed: 2.1 billion tokens are still set to unlock on November 21.
The main bet is on a pullback after the meat grinder: 0.0035–0.0038 was the midday launch zone, and holding there would signal a successful change of hands. If it stabilizes above 0.00574, then watch 0.0065.
Tonight’s key test: can it hold 0.0045? If it can’t, and drops below 0.0041, this rally was just a one-day short squeeze, with token unlocks still waiting below.
Here’s what happened: it surged sharply around midnight, then got knocked back down; a spike wiped out a batch of traders. In the morning, it hovered around 0.0021–0.0025, then shot straight up at midday, doubling in four hours and gaining 137% in 24 hours. The team had a small update today: point redemptions have resumed. But that alone couldn’t fuel a doubling—the real fuel was yesterday’s shorts. As the price crashed, short positions piled up, bunching together and becoming fuel for the rally.
The impact is immediate: short sellers got liquidated in a cascade, while buyers chasing the rally have also been shaken out by two wicks of around 20%. It’s a meat grinder now. But the overhang hasn’t changed: 2.1 billion tokens are still set to unlock on November 21.
The main bet is on a pullback after the meat grinder: 0.0035–0.0038 was the midday launch zone, and holding there would signal a successful change of hands. If it stabilizes above 0.00574, then watch 0.0065.
Tonight’s key test: can it hold 0.0045? If it can’t, and drops below 0.0041, this rally was just a one-day short squeeze, with token unlocks still waiting below.
