The market is mostly moving sideways, and now some wild coins are making a scene to grab attention. And it’s none other than the former king of wild coins, $AKE —its open interest has surged 10x! Can you believe that??? Hahaha
Most importantly, about $1.75 million worth of tokens will be linearly unlocked on October 21. Essentially, the unlock will bring more tokens onto the market, creating potential selling pressure and making it a possible negative catalyst. But the project team is taking advantage of the unlock to pump the price ahead of time and sell off their tokens.
It’s been a month since the last pump. Could the market makers have been accumulating at the bottom all this time? On-chain funds have also been flowing in continuously over the past 12 hours, with no signs of selling in the short term. The inflows aren’t that large—is that a sign that this major rally is only just getting started?
These wild coins don’t follow the broader market, so there’s no point analyzing macro factors. What you need to watch is when the top 10 on-chain addresses start making moves.
Looking at the daily chart, there’s currently an upward trend with increasing volume. But the 4-hour chart is facing some resistance around 0.034. Some traders took profits at this level, which led to small outflows on-chain over the past 5 and 15 minutes.
Altcoins are risky enough, and wild coins especially so. Manage your position size, set your take-profit and stop-loss levels, and trade prudently!
#AKE
Most importantly, about $1.75 million worth of tokens will be linearly unlocked on October 21. Essentially, the unlock will bring more tokens onto the market, creating potential selling pressure and making it a possible negative catalyst. But the project team is taking advantage of the unlock to pump the price ahead of time and sell off their tokens.
It’s been a month since the last pump. Could the market makers have been accumulating at the bottom all this time? On-chain funds have also been flowing in continuously over the past 12 hours, with no signs of selling in the short term. The inflows aren’t that large—is that a sign that this major rally is only just getting started?
These wild coins don’t follow the broader market, so there’s no point analyzing macro factors. What you need to watch is when the top 10 on-chain addresses start making moves.
Looking at the daily chart, there’s currently an upward trend with increasing volume. But the 4-hour chart is facing some resistance around 0.034. Some traders took profits at this level, which led to small outflows on-chain over the past 5 and 15 minutes.
Altcoins are risky enough, and wild coins especially so. Manage your position size, set your take-profit and stop-loss levels, and trade prudently!
#AKE