Brothers, PIPPIN has recently been playing around like a child, charging up to the resistance level of 0.2188, looking like it's about to take off, but then “bang” it fell down. Now it seems to be stuck in a sideways trend, and many retail investors are sweating while staring at the screen: is this building up for another charge, or is it going to crash?
Let me first peel back the fundamentals of this coin (news aspect):
This asset is not a legitimate cryptocurrency at all! The fundamentals are completely blank with no project updates, no roadmap updates, and no technical progress, yet it can be speculated to a market value of 250 million dollars, all thanks to the whales manipulating the “ghost market”! The supply is held in the hands of a few wallets; they pull up the price with one hand and sell off when retail investors rush in. Even scarier is: the whales are currently holding a position of 96000000 dollars, and if they want to close their positions and run, this coin could directly drop back to grandma's house, as there is no liquidity to absorb it!
Looking at the current market situation (technical aspect):
In the 1-hour chart, this asset couldn't stabilize after hitting 0.2188 twice, and now it's horizontal like a 'deflated balloon.' The MACD has crossed down (which is a bearish signal); although the RSI has reached the oversold zone, a small rebound is possible, but it can't withstand the strong downward cross. Tonight, it's either a 'false break to 0.2188 followed by a sell-off' or a direct drop below the critical level of 0.173, and once it falls, there will be no bottom.
The golden toad frankly says: this coin is just a 'harvesting toy' for the whales! Don't be tempted by those small rebounds; when retail investors enter, it's like serving up vegetables. Its rise is what the whales want, and its fall is what the whales want to harvest. We simply can't grasp the rhythm.
Retail investors / novices should do this tonight:
For those holding this coin: don't wait any longer! Clear out above 0.173 quickly and run. If it falls below 0.173, cut your losses directly without hesitation; waiting even a second could lead to greater losses.
For those who haven't entered: let me give you a piece of advice, delete this coin from your watchlist! This is a game for the whales, we retail investors can't afford to play.
Remember, surviving longer in the crypto space is more important than making quick profits! Pay attention to @金蟾说币 , and participate in every attack from the golden toad! Rainbow Tiger will announce the specific entry times and real-time news in the chat room every day! #加密市场观察 $pippin
