MAGIC is up 60% in a day, and I missed the move again
HTX’s market data is right there: MAGIC has surged over 60% in 24 hours, now trading at $0.0992, with a total market cap of $33 million. For a gaming token worth less than ten cents, a shady market maker can pull a few million out of thin air and send the candlestick chart shooting straight up.
With a market cap of $33 million, even a 60% pump only adds a little over $10 million. That’s pocket change for a market maker to shuffle between their own accounts and draw a few massive green candles. Anyone who rushes in is basically handing over their chips at a higher price.
So, would you dare place a buy order and chase it at $0.0992? And those of you stuck in at $0.15—are you queuing up on the rooftop tonight, or turning off the lights and eating noodles?
$MAGIC #Web3 #GameFi
HTX’s market data is right there: MAGIC has surged over 60% in 24 hours, now trading at $0.0992, with a total market cap of $33 million. For a gaming token worth less than ten cents, a shady market maker can pull a few million out of thin air and send the candlestick chart shooting straight up.
With a market cap of $33 million, even a 60% pump only adds a little over $10 million. That’s pocket change for a market maker to shuffle between their own accounts and draw a few massive green candles. Anyone who rushes in is basically handing over their chips at a higher price.
So, would you dare place a buy order and chase it at $0.0992? And those of you stuck in at $0.15—are you queuing up on the rooftop tonight, or turning off the lights and eating noodles?
$MAGIC #Web3 #GameFi