Why did I say this morning that $MAGIC would consolidate for a while before making a second run-up? Let me explain my view. First, we need to look back at this coin’s history. It launched in October 2022, then had a massive pump in early 2023. Back then, everyone thought it was a coin with real value—including me. But for the rest of the bull market, it kept making new lows.
You could say it’s been thoroughly shaken out over the past few years, and there aren’t many retail investors left. It hasn’t made a move like this in years. So if it’s being pumped like this now, it means the big players have accumulated enough.
The big players probably won’t end the rally after just one pump, which is why I concluded that there should be another run-up.
Still, don’t get too FOMO-driven. I told people in the community to buy in the 0.04–0.05 range. Today, people on the feed are saying there’s a second leg, and it’s already around 0.09-something. But that’s still pretty good—it’s already up a few points from here.
You could say it’s been thoroughly shaken out over the past few years, and there aren’t many retail investors left. It hasn’t made a move like this in years. So if it’s being pumped like this now, it means the big players have accumulated enough.
The big players probably won’t end the rally after just one pump, which is why I concluded that there should be another run-up.
Still, don’t get too FOMO-driven. I told people in the community to buy in the 0.04–0.05 range. Today, people on the feed are saying there’s a second leg, and it’s already around 0.09-something. But that’s still pretty good—it’s already up a few points from here.