$AKE Trading volume even higher than market cap?
AKE is clearly heating up, standing out as the biggest gainer among these wild coins after surging nearly 400%. Now that it’s moving sideways at a high level, will the big players push it higher again?
A look at the liquidation data shows that short positions are taking the biggest hit: nearly $5 million was liquidated in just 12 hours. Meanwhile, smart money is making a killing, while shorts are sitting on heavy unrealized losses. Short positions are also continuing to grow, which suggests that people in the market are still trying to call the top and short the coin.
With the price moving sideways at a high level, Caibao thinks another push upward is more likely. After all, so many shorts are trapped below, and the big players may well drive the price up for another major move to liquidate more short positions.
That said, chasing the rally or trying to call the top and shorting at this level are both risky. It’s probably best to wait and see for now rather than rush in and catch a falling knife!
AKE is clearly heating up, standing out as the biggest gainer among these wild coins after surging nearly 400%. Now that it’s moving sideways at a high level, will the big players push it higher again?
A look at the liquidation data shows that short positions are taking the biggest hit: nearly $5 million was liquidated in just 12 hours. Meanwhile, smart money is making a killing, while shorts are sitting on heavy unrealized losses. Short positions are also continuing to grow, which suggests that people in the market are still trying to call the top and short the coin.
With the price moving sideways at a high level, Caibao thinks another push upward is more likely. After all, so many shorts are trapped below, and the big players may well drive the price up for another major move to liquidate more short positions.
That said, chasing the rally or trying to call the top and shorting at this level are both risky. It’s probably best to wait and see for now rather than rush in and catch a falling knife!
