The signal-calling king got out first
On October 15, Jelitics dumped 21.38 million SI tokens for $279,000, cutting his position in half. He had previously invested a total of $1.4 million to build his position, and was already down $562,000 on paper.
His average sale price was around $0.013. With that sale, the psychological anchor for copy traders was gone. The remaining tokens of equal size are still hanging over the market, and market makers have no reason to prop him up. Even if there’s a short-term bounce, the area around $0.014 is packed with holders looking to break even; any rally there would just provide liquidity for others to sell into. If $0.013 doesn’t hold, the gap in buy orders at $0.011 could get swept away. A slow, grinding decline can hurt more than a sharp drop.
He could dump the other half at any moment. At this price, are you cutting your losses or trying to catch a falling knife? If you’re holding SI, share your cost basis.
$SI $SOL $BTC
On October 15, Jelitics dumped 21.38 million SI tokens for $279,000, cutting his position in half. He had previously invested a total of $1.4 million to build his position, and was already down $562,000 on paper.
His average sale price was around $0.013. With that sale, the psychological anchor for copy traders was gone. The remaining tokens of equal size are still hanging over the market, and market makers have no reason to prop him up. Even if there’s a short-term bounce, the area around $0.014 is packed with holders looking to break even; any rally there would just provide liquidity for others to sell into. If $0.013 doesn’t hold, the gap in buy orders at $0.011 could get swept away. A slow, grinding decline can hurt more than a sharp drop.
He could dump the other half at any moment. At this price, are you cutting your losses or trying to catch a falling knife? If you’re holding SI, share your cost basis.
$SI $SOL $BTC