The dog trader of $PIPPIN has finally started selling, you must have heard about it by now?
Today, $pippin has fallen all day, and someone privately messaged me asking, weren't we supposed to break new highs? Why does it seem like it's about to end? I analyzed the data, and unless something unexpected happens, the dog trader has indeed started selling.
p1 shows the long-short ratio across major exchanges. It looks like everyone is shouting to short, but in reality, many are quietly going long, haha. But why is the rate negative? Smart people have thought of this; the trader themselves should have opened short contracts across exchanges, pushing down while eating contracts.
Another possibility is that the proportion of whales opening short positions has increased, so there is an abnormal difference in long-short positions and ratios.
p2 and p3 show the current holdings of the dog trader address I previously shared. You can compare how much has decreased from my post the day before yesterday. 😁
p4 is the heaviest weight, the address with the largest on-chain holdings, which has quietly started transferring its holdings to other addresses since yesterday, selling off in small amounts to avoid detection by bots, rather than making large sell-offs directly from their own address.
In summary, the trader is indeed no longer as stable as before, and there are signs of selling, but whether it will come back to harvest is still uncertain. The above content is just to explain why there has been a continuous decline today. If you have questions, feel free to ask in the comments.
$JELLYJELLY #Pippin #JELLYJEELY
