$龙虾 has a market cap of 41.75 million, while contract volume is nearly six times that. Intraday, it climbed from 0.0366 to 0.0545 before getting slammed back to 0.042, with only 640,000 in liquidations. With volume this heavy, the price has already fallen 86% from its September high of 0.30. It gets churned relentlessly, but the market still won’t show its hand.
#牛来
At 0.073, its market cap is about 73 million. Over the past 24 hours, it’s only moved between 0.069 and 0.077. Contract trading volume is about 39 million, still below its market cap, and open interest is 29.57 million. It’s only down 50% from its September high of 0.162, but it’s fallen 26% in seven days—a slow bleed, not a shakeout. The project team is still keeping it alive with homophone puns, while retail traders mistake the narrow range for a sign that the sell-off isn’t over and that they can keep holding. A narrow range doesn’t mean holders are reluctant to sell; it means neither bulls nor bears are willing to make the first move with size.
Lobster uses trading volume to wear people down; Bull Lai wears them down by going nowhere. Two different tactics, the same pool of floating supply.
#牛来
At 0.073, its market cap is about 73 million. Over the past 24 hours, it’s only moved between 0.069 and 0.077. Contract trading volume is about 39 million, still below its market cap, and open interest is 29.57 million. It’s only down 50% from its September high of 0.162, but it’s fallen 26% in seven days—a slow bleed, not a shakeout. The project team is still keeping it alive with homophone puns, while retail traders mistake the narrow range for a sign that the sell-off isn’t over and that they can keep holding. A narrow range doesn’t mean holders are reluctant to sell; it means neither bulls nor bears are willing to make the first move with size.
Lobster uses trading volume to wear people down; Bull Lai wears them down by going nowhere. Two different tactics, the same pool of floating supply.