I just checked the market: $PHB is down 54% in 24 hours, currently priced at 0.015, with just 310,000 U in trading volume, according to Binance real-time data. Put simply, there’s nobody buying at this volume, and even a moderately large order could send the price crashing. Don’t rush to buy the dip—altcoins have no floor when they’re falling. I learned that the hard way with $ACA last month: down 51% and looking cheap, it still managed to halve again.
$W is also down 36% today, but its trading volume is 50 million U, so liquidity is much better than $PHB . If you’re going to trade short-term, you should at least pick something you can get out of. $VIC and $PNT are in equally bad shape; the whole sector is bleeding. The Nasdaq is up a slight 0.3%, gold is at 2360, and money simply isn’t flowing into crypto.
Remember this: a big drop doesn’t necessarily mean a rebound is coming—it may just mean nobody wants it anymore. Before trying to catch a falling knife, check the volume. Without enough volume, it’s a bottomless pit. I’ve already cut my positions and am staying on the sidelines until I see a signal.
Keep an eye on $PHB and $W yourselves and see how deep the order books are. The above is solely my personal opinion and does not constitute investment advice.
$W is also down 36% today, but its trading volume is 50 million U, so liquidity is much better than $PHB . If you’re going to trade short-term, you should at least pick something you can get out of. $VIC and $PNT are in equally bad shape; the whole sector is bleeding. The Nasdaq is up a slight 0.3%, gold is at 2360, and money simply isn’t flowing into crypto.
Remember this: a big drop doesn’t necessarily mean a rebound is coming—it may just mean nobody wants it anymore. Before trying to catch a falling knife, check the volume. Without enough volume, it’s a bottomless pit. I’ve already cut my positions and am staying on the sidelines until I see a signal.
Keep an eye on $PHB and $W yourselves and see how deep the order books are. The above is solely my personal opinion and does not constitute investment advice.