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snowball
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DEEP DIVE $SNOWBALL:
Token $SNOWBALL (The Snowball Effect) launched on Pump.fun (Solana) about 15 hours ago, and the on-chain data is painting quite an interesting picture.
Current price is $0.00002093, up 802% in the last 24 hours. However, in the last hour, it's down -11.30% and the current candlestick is showing -10.21%, indicating a short-term momentum reversal.
- Market cap: $21K
- 24h Volume: $187K, with buy volume at $96K and sell volume at $91K, nearly balanced but the sellers are hot on the heels.
- Total trades: 5,156 orders (3,028 buy / 2,128 sell), with 1,215 traders involved (1,194 buyers / 1,071 sellers).
- Bonding curve: 90.9%, about to migrate to Raydium.
- Holders: 195 wallets.
The ATH hit around $27K market cap, then a strong red candlestick dropped it to about $16K and it bounced back up to $21K. The distribution pressure from large wallets is quite evident in the last 1-2 hours. There are more buyers than sellers, but the volumes are close, implying that whales are gradually distributing to retail.
Having only 195 holders for such a hot token is quite thin, making it easy for a few large wallets to manipulate the supply. The combo of -11.30% in 1 hour and the current candlestick at -10.21% is a dangerous signal for anyone FOMOing in. Liquidity is still thin, so slippage will be high with large order sizes.
The bonding curve is at 90.9%, I will wait until the migration to Raydium is complete before assessing the real strength. The low of today’s red candlestick around $16K market cap is the nearest support to watch. Deeper levels include the fib 0.5 to 0.618 from the launch peak, around $10K-$13.5K market cap, which is worth considering if there’s a nice pullback. Cut losses seriously if it breaches $16K without bouncing back.
What do you think? With the clear distribution pressure, thin holders, and the bonding curve nearing completion, does $SNOWBALL have enough strength to bounce when it hits Raydium?
#Solana #PumpFun #SNOWBALL #OnChainAnalysis #Crypto
Token $SNOWBALL (The Snowball Effect) launched on Pump.fun (Solana) about 15 hours ago, and the on-chain data is painting quite an interesting picture.
Current price is $0.00002093, up 802% in the last 24 hours. However, in the last hour, it's down -11.30% and the current candlestick is showing -10.21%, indicating a short-term momentum reversal.
- Market cap: $21K
- 24h Volume: $187K, with buy volume at $96K and sell volume at $91K, nearly balanced but the sellers are hot on the heels.
- Total trades: 5,156 orders (3,028 buy / 2,128 sell), with 1,215 traders involved (1,194 buyers / 1,071 sellers).
- Bonding curve: 90.9%, about to migrate to Raydium.
- Holders: 195 wallets.
The ATH hit around $27K market cap, then a strong red candlestick dropped it to about $16K and it bounced back up to $21K. The distribution pressure from large wallets is quite evident in the last 1-2 hours. There are more buyers than sellers, but the volumes are close, implying that whales are gradually distributing to retail.
Having only 195 holders for such a hot token is quite thin, making it easy for a few large wallets to manipulate the supply. The combo of -11.30% in 1 hour and the current candlestick at -10.21% is a dangerous signal for anyone FOMOing in. Liquidity is still thin, so slippage will be high with large order sizes.
The bonding curve is at 90.9%, I will wait until the migration to Raydium is complete before assessing the real strength. The low of today’s red candlestick around $16K market cap is the nearest support to watch. Deeper levels include the fib 0.5 to 0.618 from the launch peak, around $10K-$13.5K market cap, which is worth considering if there’s a nice pullback. Cut losses seriously if it breaches $16K without bouncing back.
What do you think? With the clear distribution pressure, thin holders, and the bonding curve nearing completion, does $SNOWBALL have enough strength to bounce when it hits Raydium?
#Solana #PumpFun #SNOWBALL #OnChainAnalysis #Crypto
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