With Lobster, the swings have gotten so extreme that you can’t treat it like a spot holding.
It’s a little over four cents now, with a market cap around $40 million, and it’s down roughly 40% again in the past 24 hours. The intraday high was over seven cents; the low dipped below four cents. And that’s not even the worst of it. On October 1, it surged from 3.6 cents to 11 cents; on the 2nd, it crashed from $0.10 to $0.026. That’s several-fold swings within a single day. On the 6th, it bounced again from $0.045 to nearly $0.08, then gave it all back on the 7th and 8th.
It doesn’t look like it’s fallen much over seven days because the moves in between offset each other. Break it down, and it’s just wild swings up and down. It’s down about 70% over 14 days. The high around September 21 was near $0.30; it’s now still more than 80% below that. Trading volume is often higher than the market cap, and turnover is extremely fast—that suggests people aren’t holding; they’re trading back and forth, taking each other’s money.
With a chart like this, a rally looks like it’s about to make a new high, and a drop looks like it’s headed to zero. Holding a leveraged position overnight, one wick is enough to wipe out your margin. I treat it as a volatility machine and ignore the narrative. If you trade it, keep it short-term, and before you enter, ask yourself whether you can stomach a 40% crash. If not, stay away.
Not investment advice. Do your own research.
#龙虾 #中文meme币龙头
It’s a little over four cents now, with a market cap around $40 million, and it’s down roughly 40% again in the past 24 hours. The intraday high was over seven cents; the low dipped below four cents. And that’s not even the worst of it. On October 1, it surged from 3.6 cents to 11 cents; on the 2nd, it crashed from $0.10 to $0.026. That’s several-fold swings within a single day. On the 6th, it bounced again from $0.045 to nearly $0.08, then gave it all back on the 7th and 8th.
It doesn’t look like it’s fallen much over seven days because the moves in between offset each other. Break it down, and it’s just wild swings up and down. It’s down about 70% over 14 days. The high around September 21 was near $0.30; it’s now still more than 80% below that. Trading volume is often higher than the market cap, and turnover is extremely fast—that suggests people aren’t holding; they’re trading back and forth, taking each other’s money.
With a chart like this, a rally looks like it’s about to make a new high, and a drop looks like it’s headed to zero. Holding a leveraged position overnight, one wick is enough to wipe out your margin. I treat it as a volatility machine and ignore the narrative. If you trade it, keep it short-term, and before you enter, ask yourself whether you can stomach a 40% crash. If not, stay away.
Not investment advice. Do your own research.
#龙虾 #中文meme币龙头