DEGO suddenly regresses: Is this a signal of capitulation?
DEGO shows what a true crypto correction looks like, currently trading at $1.39 after a brutal drop of -21.24%. The DeFi token is firmly in the "hot" seat, but not in the way traders like.
The short-term chart is an ocean of red, with a movement of -2.31% in the last period adding to the pain. This is a striking reminder of the volatility that can hit lower market cap projects in the DeFi space.
But here’s what savvy traders are watching: the order book. A significant percentage of 66% of orders is on the SELL side, showing a wave of panic or profit-taking (for those who bought at a lower price). However, this type of extreme selling pressure can sometimes create a contrarian opportunity.
When fear is so palpable and sell orders pile up, it can sometimes indicate a state of "capitulation"—where the last weak hands finally give up. If the remaining 33% of buy-side support holds firm, it could potentially set the stage for a sharp rebound if a positive catalyst emerges.
Is this the scary finale of the sell-off, or just the beginning of a deeper fall? For the brave, these are the moments that define risk and reward.
