COMPLETE INVESTIGATION!
IRYS just broke its ATH, and more than $18M in shorts were liquidated within 4 hours according to my tracking!
But hereโs something interesting!
๐ณ A single cluster of 6 connected wallets holds 17.51% of the supply shown in my tracking data!
Before the massive pump, we saw open interest increasing aggressively, followed by a huge price movement and short liquidations. This looks like a classic short squeeze!
โ ๏ธ TOKEN UNLOCKS:
โข October 25: Around 77.59M IRYS
โข November 25: Around 1.18 BILLION IRYS
Another interesting fact: Team and private investors together received 44.1% of the total token allocation!
Now hereโs my psychological view!
Most people see a token pumping like crazy and immediately start shorting. But when too many people open shorts, the market can keep pushing higher and liquidating them!
Does that mean IRYS will keep pumping? NO!
Once short liquidations slow down, if fresh buying pressure disappears, we could see a massive correction.
My conclusion: IRYS still has the potential to squeeze more shorts, but buying after such a huge pump is extremely risky, and blindly shorting it could be even worse!
Watch the OI, whale movements, and upcoming unlocks carefully.
#EarningsSeason #BinancePick #BinanceSquareTalks #PepeJumps14%ToLeadAltcoinRebound #IRSPlansLowerTaxDisclosurePenaltiesForCryptoCases
