TOKEN BUMP & DUMP $MAGIC – 03/08/2025
🎯 MAGIC/USDT has experienced a strong fake bump to the area of 0.2049 at midnight, before a vertical dump to the bottom of 0.1630, losing nearly 20% of its value in just a few hours.
📊 Trading volume peaked at over 14.7 million MAGIC, indicating that whales activated a large-scale sell-off after suddenly pulling the price up.
📉 Currently, the price is sideways around the area of 0.1679, after a slight rebound. However:
🔻 24h decline: -8.10%
⚠️ MA(5) & MA(10) are crossing down ⇒ Selling pressure remains dominant
📆 MAGIC has lost up to -51.14% in 1 year — the long-term trend is still bearish
💡 Discussion: This is typical of the “pump-dump” pattern often seen when liquidity is thin and market maker teams manipulate prices. Traders should be cautious, especially with altcoins that have a sudden spike in volume but lack clear supporting news.
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