$PENDLE is a super unique product that opens up a yield trading market to help users optimize profits. Causing the valuation to increase 7 times in just 4 months.
"So at this point, will this crazy growth stop here?" - Let's find out together from Data & Onchain's perspective through this analysis:
$PENDLE and its growth story...
..."Just getting started"
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- First is the perspective of Smart money and top Holders of the project, which will be summarized through 4 ideas
- The first photo is from the Smart money group:
1. Starting Point: Initially, Smart Money accumulated $PENDLE at approximately $3 with a significant amount of 23m tokens.
2. Trading Strategy: When peaking in April, only half of the pre-purchased goods were successfully put on the floor and distributed. However, the remaining half still expected higher to close.
- And the remaining photo is the top holder group:
3. Action: Top holders also show similar strategies, when 12 million tokens listed on the exchange are the same as SM. The remaining deposit on the exchange is only 10 million$, smaller than the purchase part.
4. Confidence: Despite the price correction after the peak, top holders still withdrew strongly, clearly showing the expectation that the price can surpass the previous peak.
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- Next is the data from DCA and Take Profit:
1. During the period from mid-April to May, the market witnessed active trading from both DCA and profit-taking sides.
2. However, the DCA side has prevailed over the profit-taking side, moreover, the recent DCA signal shows that pro traders' interest and expectations for Pendle are still very high.
"But it doesn't stop there"
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- From data from CEX exchange
- Coincidentally, at the time when both the DCA factor increased strongly and the huge withdrawal from the exchange to the wallets of top holders & smart money, right on the exchange#Binance Recorded strong return of large volume buying power.
- Up to now it shows no signs of stopping.
-> Another accumulation move full of expectations
- Besides, from the perspective of small retailers on the floor...
...attention from them is decreasing, as shown by the fact that the OI (Open Interest) volume is almost unchanged.
- At the same time, the appearance of CVD perp shows that some people are trying to short this project. Combined with the funding rate remaining low, it shows that the level of FOMO is not high.
-> The push of goods from Whales and Smart money will be much easier.
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In short: the project has been accumulated crazily by big players. And the crowd has not yet fomo, so we can completely expect the price of $PENDLE to grow strongly in the near future. At least break the old peak.
- With a quick look from TA when $PENDLE has created 2 bottoms and is going up, the position around this price range can consider allocating capital and simultaneously adding DCA at the price of $4.5.
-> Summary: With the above analysis, this will be a good project to enter, but you should still consider the risks and reasonable volume.
"Finally, thanks for reading and good luck!"
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(Next analysis: ???)