OSMO is proposing another 55 million token burn, pushing the price to 0.067. It has pulled back to 0.055 today, about 17% off the high. I’m not chasing this move.
What I saw: A forum proposal would burn 55 million OSMO from the community pool (about 7% of the total supply), bringing cumulative burns to over 100 million. The target on-chain date is October 30. Previously, proposal 1053 passed with 91% approval and inflation was halted. Binance spot hit a high of 0.0672 yesterday and is now around 0.0555, still above the MA20 at about 0.0467.
My take: With inflation halted and another burn on top, the bullish news is already fully priced in. It’s perfectly normal for a small-cap token to see some profit-taking.
What I’m doing: Not chasing. I’ll take another look if it holds above yesterday’s high area of 0.062. If it breaks below today’s low of 0.0532, I’ll take that as a sign the good news has been fully priced in.
Would you buy around 0.062? Buy / Don’t buy
$OSMO $ATOM
#OSMO拟从社区池销毁1亿枚代币 #山寨币
What I saw: A forum proposal would burn 55 million OSMO from the community pool (about 7% of the total supply), bringing cumulative burns to over 100 million. The target on-chain date is October 30. Previously, proposal 1053 passed with 91% approval and inflation was halted. Binance spot hit a high of 0.0672 yesterday and is now around 0.0555, still above the MA20 at about 0.0467.
My take: With inflation halted and another burn on top, the bullish news is already fully priced in. It’s perfectly normal for a small-cap token to see some profit-taking.
What I’m doing: Not chasing. I’ll take another look if it holds above yesterday’s high area of 0.062. If it breaks below today’s low of 0.0532, I’ll take that as a sign the good news has been fully priced in.
Would you buy around 0.062? Buy / Don’t buy
$OSMO $ATOM
#OSMO拟从社区池销毁1亿枚代币 #山寨币
