After $DEXE pulled back toward a historical high near $50, in just a few days it got cut in half, then cut in half again, collapsing in a cascade down to around $3.
The speed of the dump was so fast that there wasn’t even time to set your stop-loss.
A few days ago, an enormous buy-pull pushed the price up, fully igniting retail traders’ FOMO emotions.
Once the liquidity at the top was picked up, the “whales” immediately began making large sell dumps to cash out.
This kind of altcoin has no real buy-side support during a crash. When sell orders become even slightly concentrated, the price will just punch through all support levels like a free-fall.
The market has never lacked myths of getting rich overnight. What it lacks are people who can make it to the end while staying alive with profits.
The speed of the dump was so fast that there wasn’t even time to set your stop-loss.
A few days ago, an enormous buy-pull pushed the price up, fully igniting retail traders’ FOMO emotions.
Once the liquidity at the top was picked up, the “whales” immediately began making large sell dumps to cash out.
This kind of altcoin has no real buy-side support during a crash. When sell orders become even slightly concentrated, the price will just punch through all support levels like a free-fall.
The market has never lacked myths of getting rich overnight. What it lacks are people who can make it to the end while staying alive with profits.