$NIGHT Current price around 0.063 directly short, a large amount of selling pressure has not ended.
The news is very clear: Binance's airdrop army is still hitting hard. The first batch of 600 NIGHT airdrops has already dumped 60%, but this is just an appetizer. Bigger airdrops are still to come, and tokens will continue to unlock until 2026, with a steady stream of free chips waiting to be realized.
The project itself started off poorly, with as much as 69% of the total supply (16.6 billion pieces) directly thrown into the market, which is far from a low circulation control model; it seems they are afraid the price will drop too slowly.
This structural issue has no solution in the short term. A price rebound is just an opportunity to add to shorts.
First target: 0.045, second target: 0.032. Manage your stop loss well.
