$BEAT Is Beat Saber staging a strong comeback or fading into oblivion? A daily-level major support at $1 is broken 🔥
BEAT initially became active and visible in the retail-trader spotlight from the start—it's always been a rather controversial coin. Today, Min Jie will keep it simple and talk about it!
In the past month, on-chain wallet addresses have collectively withdrawn 18.77 million tokens. The most recent withdrawal was on July 31, when 900,000 BEAT were taken out. From on-chain data, it clearly looks like the project team is rotating out and “exiting” with positions ready to cash in—like the house is preparing to be cashed out! Smart money is watching the holdings between longs and shorts and finds the gap too lopsided; the trend is clear, with shorts dominating.
On top of that, on September 1, BEAT has 11.24 million tokens scheduled to unlock, which means potential selling pressure is starting to intensify. Based on these two factors, personally I believe Beat Saber has lost its guiding force. In terms of strategy, it’s safer to prioritize selling into rallies (i.e., rebound shorts).
BEAT initially became active and visible in the retail-trader spotlight from the start—it's always been a rather controversial coin. Today, Min Jie will keep it simple and talk about it!
In the past month, on-chain wallet addresses have collectively withdrawn 18.77 million tokens. The most recent withdrawal was on July 31, when 900,000 BEAT were taken out. From on-chain data, it clearly looks like the project team is rotating out and “exiting” with positions ready to cash in—like the house is preparing to be cashed out! Smart money is watching the holdings between longs and shorts and finds the gap too lopsided; the trend is clear, with shorts dominating.
On top of that, on September 1, BEAT has 11.24 million tokens scheduled to unlock, which means potential selling pressure is starting to intensify. Based on these two factors, personally I believe Beat Saber has lost its guiding force. In terms of strategy, it’s safer to prioritize selling into rallies (i.e., rebound shorts).