$AKE
When does the music stop?
A month ago open interest was 3.7 billion coins. Half of that, about 1.9 billion, was short. Price was $0.0085.
Round 1, Sep 2. Price 2x to $0.017. Shorts left: 1.3 billion.
Round 2, Sep 5. Price 1.3x to $0.019. Shorts left: 850 million.
Round 3, Sep 15. Price 1.8x to $0.027. Shorts left: 610 million.
Round 4, Sep 18. Price 2.4x to $0.064. Shorts left: 650 million.
Four rounds. Price up 7.5x. Two thirds of the original shorts gone. Market cap now $1.46 billion on $28 million of daily spot volume.
Now the future.
Round 5. Price to $0.10 to $0.13. Shorts left: about 450 million. Market cap $2 to $3 billion.
Round 6. Price to $0.15 to $0.25. Shorts left: about 300 million. Market cap $3.5 to $6 billion.
And that's where I think the music stops.
Not because the shorts are all gone. Because at $5 billion, nobody is left to be the bid. The shorts were the fuel. Once there aren't enough of them to squeeze, there's no engine.
Two more rounds. Maybe.
When does the music stop?
When does the music stop?
A month ago open interest was 3.7 billion coins. Half of that, about 1.9 billion, was short. Price was $0.0085.
Round 1, Sep 2. Price 2x to $0.017. Shorts left: 1.3 billion.
Round 2, Sep 5. Price 1.3x to $0.019. Shorts left: 850 million.
Round 3, Sep 15. Price 1.8x to $0.027. Shorts left: 610 million.
Round 4, Sep 18. Price 2.4x to $0.064. Shorts left: 650 million.
Four rounds. Price up 7.5x. Two thirds of the original shorts gone. Market cap now $1.46 billion on $28 million of daily spot volume.
Now the future.
Round 5. Price to $0.10 to $0.13. Shorts left: about 450 million. Market cap $2 to $3 billion.
Round 6. Price to $0.15 to $0.25. Shorts left: about 300 million. Market cap $3.5 to $6 billion.
And that's where I think the music stops.
Not because the shorts are all gone. Because at $5 billion, nobody is left to be the bid. The shorts were the fuel. Once there aren't enough of them to squeeze, there's no engine.
Two more rounds. Maybe.
When does the music stop?