$RAVE
In just a few days, the token skyrocketed from the range of $0.24-0.36 to a new ATH of approximately $2.1 (+800%), with trading volume surged to hundreds of millions, and the perpetuals overheated to the point that the open interest is already huge for such an asset.
Not the usual shield for us. The project actually has offline events for 5,000 people, NFT ticketing, staking utility, governance, and a buyback and burn system.
At the moment of the market surge, it surfaced that 18.58M $RAVE were transferred to Bitget from addresses linked to the project, just before the pump acceleration.
When tokens fly to the exchange on low float before a green candle, it always smells like a prepared game.
The conclusion for me is clear; all of this will end with a quick correction of 30-50%, just unclear from which values, because those who dared to short it yesterday have already caught sl/liquidation.
By the numbers: market cap around $505M, FDV already around $2.1B, with only 239.17M tokens in circulation, which is only 23.9% of the supply. But the main point is not this, but the futures; there the OI is already around $309M, which is approximately 61% of the market cap, and the daily volume surged to $6.1B compared to $375M-$415M on the spot.
Metrics indicate that there is a huge layer of open positions in the coin, and the price starts moving not according to fundamentals, but according to liquidations. This is how MM builds the squeeze.
In just a few days, the token skyrocketed from the range of $0.24-0.36 to a new ATH of approximately $2.1 (+800%), with trading volume surged to hundreds of millions, and the perpetuals overheated to the point that the open interest is already huge for such an asset.
Not the usual shield for us. The project actually has offline events for 5,000 people, NFT ticketing, staking utility, governance, and a buyback and burn system.
At the moment of the market surge, it surfaced that 18.58M $RAVE were transferred to Bitget from addresses linked to the project, just before the pump acceleration.
When tokens fly to the exchange on low float before a green candle, it always smells like a prepared game.
The conclusion for me is clear; all of this will end with a quick correction of 30-50%, just unclear from which values, because those who dared to short it yesterday have already caught sl/liquidation.
By the numbers: market cap around $505M, FDV already around $2.1B, with only 239.17M tokens in circulation, which is only 23.9% of the supply. But the main point is not this, but the futures; there the OI is already around $309M, which is approximately 61% of the market cap, and the daily volume surged to $6.1B compared to $375M-$415M on the spot.
Metrics indicate that there is a huge layer of open positions in the coin, and the price starts moving not according to fundamentals, but according to liquidations. This is how MM builds the squeeze.