Wow, AKE really made people laugh with this one. ATH 0.0154 was out for only a couple of days, and now it’s already back down to 0.0091—within three days it dumped 14 percentage points. First, the conclusion: at this level I won’t catch any “flying knives.” I’m watching from the sidelines, slightly bearish.
Let’s talk about the most alarming part. Over the past month, this coin went from 0.00017 to the ATH—multiples of dozens. Then on the day it made a new high, it sold off nearly 30%. In the following 7 days, it still showed a 129% gain hanging there, which tells you this is purely sentiment-driven, with basically nothing to do with fundamentals. The price is trading below the 15-minute moving average; on the 4-hour chart, out of the last six candles, five are bearish. Momentum is clearly fading.
Now look at the money flow. For the futures, open interest was cut down by more than 9% in a day. Price fell, and positions were reduced—this means longs are being squeezed out and leverage is being unwound. Funding rates are still stuck high at 0.022%, but they can’t push the price up. The longs are still hard-holding. On the spot side, net inflows from large orders are still basically zero—nobody’s stepping in.
There’s also an old problem—unlocking. The circulating share is only about 22%. We already discussed earlier post-unlocking risk and how the whales were moving. And sure enough, everything got cashed out. Now the whale accounts’ long exposure is below 30%, and on the big-holder side longs are only around 40%. When it goes up it’s coin selection; when it goes down it’s your own judgment—don’t fight the supply from the inventory.
In plain terms: chasing longs at this point isn’t great in terms of value; trying to bottom is more like guessing the bottom. If you really want to trade, wait for the price to reclaim and hold above the 0.01 moving average, or wait until open interest stops falling before talking. I’m a cautious spot-only guy—when the market is in high-level cooldown like this, I’d rather stay in cash and watch.
#ake $AKE