Irys just printed a 580% candle in 24 hours — the most violent single-day move I've seen in months.
$IRYS sat quietly around $0.02, then exploded through its May listing high of ~$0.062 and ran to about $0.144, with volume near $1 billion and $21.4M in short liquidations along the way. Nobody's claiming a clean trigger for the ignition — but once shorts started blowing up, the squeeze did the rest.
Here's how I'm reading it: with only ~20% of supply circulating, the valuation math above these levels is pure thin air, and the chart is now in price discovery with no overhead supply left to test against. The zone to watch is the intraday pause around $0.115–$0.13 — if repeated pullbacks hold there, buyers are genuinely accepting higher prices. If it breaks, the air underneath is empty.
I'm not chasing a green candle this size, but the first red daily candle after a run like this is usually where the real trade hides. Would you buy a pullback toward $0.115, or is this the textbook don't-chase setup?
$IRYS sat quietly around $0.02, then exploded through its May listing high of ~$0.062 and ran to about $0.144, with volume near $1 billion and $21.4M in short liquidations along the way. Nobody's claiming a clean trigger for the ignition — but once shorts started blowing up, the squeeze did the rest.
Here's how I'm reading it: with only ~20% of supply circulating, the valuation math above these levels is pure thin air, and the chart is now in price discovery with no overhead supply left to test against. The zone to watch is the intraday pause around $0.115–$0.13 — if repeated pullbacks hold there, buyers are genuinely accepting higher prices. If it breaks, the air underneath is empty.
I'm not chasing a green candle this size, but the first red daily candle after a run like this is usually where the real trade hides. Would you buy a pullback toward $0.115, or is this the textbook don't-chase setup?