The sharp spikes of the ONG coin (especially with percentages exceeding +100% to +200% in a short time) are usually attributed to the combined effect of several crucial technical and investment factors:
Deposit and withdrawal halts on major platforms: Deposit and withdrawal operations recently were restricted for the Ontology (ONT) and (ONG) coins on major trading platforms (such as Upbit and Binance) to carry out network updates. This shutdown causes the liquidity available for trading on the platforms to dry up, making buying sudden and pushing the price up extremely fast (Liquidity Squeeze).
Amplified volumes on Korean exchanges (Upbit / Bithumb): Historically, the ONG coin has experienced repeated bouts of intense speculation, led by South Korean exchanges. Sudden liquidity injections from mid-tier and smaller traders concentrate to “ignite” prices of coins with low market capitalization (Low Market Cap).
Low market-cap volatility: Since the market cap of the ONG coin is relatively small (hovering around tens of millions), the entry of moderate liquidity (whether from market makers or whales) is enough to move the coin’s price by extremely large percentage swings within just a few hours.
Short squeeze: At the start of the first surge, futures contracts and traders betting on the coin’s decline (Short Sellers) are forced to close their positions involuntarily. This means buying the coin at the current price automatically, which further increases the strength and momentum of the rally.
#Ong #memecoin🚀🚀🚀 #pump
Deposit and withdrawal halts on major platforms: Deposit and withdrawal operations recently were restricted for the Ontology (ONT) and (ONG) coins on major trading platforms (such as Upbit and Binance) to carry out network updates. This shutdown causes the liquidity available for trading on the platforms to dry up, making buying sudden and pushing the price up extremely fast (Liquidity Squeeze).
Amplified volumes on Korean exchanges (Upbit / Bithumb): Historically, the ONG coin has experienced repeated bouts of intense speculation, led by South Korean exchanges. Sudden liquidity injections from mid-tier and smaller traders concentrate to “ignite” prices of coins with low market capitalization (Low Market Cap).
Low market-cap volatility: Since the market cap of the ONG coin is relatively small (hovering around tens of millions), the entry of moderate liquidity (whether from market makers or whales) is enough to move the coin’s price by extremely large percentage swings within just a few hours.
Short squeeze: At the start of the first surge, futures contracts and traders betting on the coin’s decline (Short Sellers) are forced to close their positions involuntarily. This means buying the coin at the current price automatically, which further increases the strength and momentum of the rally.
#Ong #memecoin🚀🚀🚀 #pump