Just saw BULLA, this coin is withdrawing from the liquidity pool
BULLA has already dropped 60% today, from $0.023 to $0.009. The trading volume in the last 24 hours is $18.64 million, but the liquidity in the pool is only left with $250,000, which is clearly the project team withdrawing and running away!
The top 10 addresses control 80% of the supply, this is basically a manipulated stock. Now the price is crashing, and the trading volume is increasing, which is obviously the manipulators dumping their holdings. Those new retail investors (more than 50,000 new wallets) are picking up the pieces, but they have only bought 2% of the total supply, which simply cannot sustain.
The 5-minute candlestick chart keeps hitting new lows, each rebound is very weak, a typical downtrend. Although smart money has 4 addresses buying at the bottom, their holdings are only 0.27%, clearly hesitant to take large positions.
This kind of coin is just gambling, the manipulators are clearly withdrawing liquidity, there may be a short-term rebound from overselling, but in the medium to long term, it will definitely go to zero. I choose to short it directly.
For those looking to bet on a rebound, use small positions and get in and out quickly, set stop-losses.
Stable brothers should stay away, the risk of this manipulated stock is too high.
This kind of low-quality token, don't believe in any value investment, it's just a pure chip game.
What do you all think? Are there any brothers on the ride?
#The discussion volume of altcoin season has dropped to a two-year low.