iost just showed what a short squeeze looks like when theres nothing under it
$IOST ran hard after its v4.0.0 mainnet upgrade, then most of the move got dumped overnight. funding was deep negative across exchanges before it, so a lot of shorts got forced to buy
thing is the upgrade is node stability stuff. no change to supply, fees or staking. good maintenance, but not a reason to more than double. when daily volume runs way past the market cap its fast money flipping, not people holding
im not touching it. what id watch is whether it holds around 0.0009 or bleeds back to where it started. holds and maybe real buyers stuck around, if not it was just leverage
i post these reads on whatever is moving, follow for the next one
$IOST ran hard after its v4.0.0 mainnet upgrade, then most of the move got dumped overnight. funding was deep negative across exchanges before it, so a lot of shorts got forced to buy
thing is the upgrade is node stability stuff. no change to supply, fees or staking. good maintenance, but not a reason to more than double. when daily volume runs way past the market cap its fast money flipping, not people holding
im not touching it. what id watch is whether it holds around 0.0009 or bleeds back to where it started. holds and maybe real buyers stuck around, if not it was just leverage
i post these reads on whatever is moving, follow for the next one