The unlock hasn’t happened yet, but the front-running rally for $PIEVERSE has already given back a quarter.
Perpetuals surged to 2.27 the day before yesterday; now it’s around 1.7. Trading volume over the past two days topped 330 million U.
▪️ Coins held: peak of 15.13 million → 14.17 million, still over 20% higher than the 11.44 million before the pump
▪️ Funding rate: +0.01%; bears haven’t really added to their positions either
▪️ On 11/14, the team and investors’ tokens unlock. Estimates of the initial unlock range from 33.41 million to 86.4 million tokens
My personal take: the price has pulled back, but leverage has only unwound a little. The next three days look more like a wait for the 11/14 candle.
On unlock day, do you think the bad news will be fully priced in—or is it only just beginning?
#PIEVERSE #TokenUnlock
Perpetuals surged to 2.27 the day before yesterday; now it’s around 1.7. Trading volume over the past two days topped 330 million U.
▪️ Coins held: peak of 15.13 million → 14.17 million, still over 20% higher than the 11.44 million before the pump
▪️ Funding rate: +0.01%; bears haven’t really added to their positions either
▪️ On 11/14, the team and investors’ tokens unlock. Estimates of the initial unlock range from 33.41 million to 86.4 million tokens
My personal take: the price has pulled back, but leverage has only unwound a little. The next three days look more like a wait for the 11/14 candle.
On unlock day, do you think the bad news will be fully priced in—or is it only just beginning?
#PIEVERSE #TokenUnlock