This $GTC shitcoin perfectly replicates the strategy from April $RAVE .
The fees once spiked to -2.0%, and as the shorting fees increased, they kept pushing it higher; the more they pushed, the more the shorts got frustrated and went in deeper.
This created a death spiral, and it all depends on how many tokens the whales have to keep pushing it up.
As they push it up, the shorts get wrecked, but doesn't that actually lower the fees?
So, a bunch of retail traders are stubborn, the more it gets pushed up, the more they short.
The whales first eat up your fees, then blow up your short positions;
Or they might pull it up a bit, lure in some liquidity, then shake it out to harvest the fees;
Finally, they hit you with one last ultimate liquidation.
What price point will the ultimate liquidation actually hit?
Referencing $RAVE , maybe double the bottom is about right.
The fees once spiked to -2.0%, and as the shorting fees increased, they kept pushing it higher; the more they pushed, the more the shorts got frustrated and went in deeper.
This created a death spiral, and it all depends on how many tokens the whales have to keep pushing it up.
As they push it up, the shorts get wrecked, but doesn't that actually lower the fees?
So, a bunch of retail traders are stubborn, the more it gets pushed up, the more they short.
The whales first eat up your fees, then blow up your short positions;
Or they might pull it up a bit, lure in some liquidity, then shake it out to harvest the fees;
Finally, they hit you with one last ultimate liquidation.
What price point will the ultimate liquidation actually hit?
Referencing $RAVE , maybe double the bottom is about right.