$CHIP is up +31.75% today, currently at 0.0691, after moving from 0.0514 to 0.0717 over the past 24 hours.
This price action reminds me of that tofu pudding stall at the morning market. Usually, you never have to wait, but today I walked by and, wow, the line stretched all the way to the curb. Should I just keep walking, or get in line too? Standing there, I’d have to figure out whether the owner suddenly hit their stride today, or whether the other stalls nearby were all closed and everyone just came here instead.
A trading volume of 143 million is like the number of people in that line—the buzz is real, but buzz and repeat customers are two different things. I’m not making a move today; I’ll just watch two levels from the sidelines: 0.0514 was the price when the stall first opened this morning. If the crowd thins out this afternoon and it falls back there, then it was just a passing fad. 0.0717 was today’s high. If the line keeps going without letting up and stretches even higher, then it looks like people are genuinely coming for the flavor.
#CHIP
This price action reminds me of that tofu pudding stall at the morning market. Usually, you never have to wait, but today I walked by and, wow, the line stretched all the way to the curb. Should I just keep walking, or get in line too? Standing there, I’d have to figure out whether the owner suddenly hit their stride today, or whether the other stalls nearby were all closed and everyone just came here instead.
A trading volume of 143 million is like the number of people in that line—the buzz is real, but buzz and repeat customers are two different things. I’m not making a move today; I’ll just watch two levels from the sidelines: 0.0514 was the price when the stall first opened this morning. If the crowd thins out this afternoon and it falls back there, then it was just a passing fad. 0.0717 was today’s high. If the line keeps going without letting up and stretches even higher, then it looks like people are genuinely coming for the flavor.
#CHIP