Shitcoins really can't be played at all, the project team is as poor as a beggar. The on-chain chips are controlled over 90%, then they wash trade to create a price difference between the spot price and the contract price, and build long positions at the bottom! They keep sideways trading and eating up the funding fees for shorts! How many retail investors can buy at the bottom and maintain this pattern? After seeing you chase long, a bearish candle directly drops 20 points, while those holding shorts keep sideways trading to control the market and eat up the funding fees, and it's every hour! How is this different from fraud? Who the hell invented the hourly funding fee? Doesn't this provide these scam project teams with tools to fleece money?
$pippin
$BEAT
The value of these two coins is essentially 0, with no actual application, and Beat is even more ridiculous, with less than 1 million U in the on-chain pool. They somehow inflated the market cap to 3 billion USD! With such a large market cap, if retail investors have spot to sell, can it be absorbed? Wouldn’t it go straight to zero?
Pinpin is really impressive, after the main force pulls it up 200 times, they find that no one is taking the spot, and they have no choice but to smash it in their own hands, then rely on contracts to collect funding fees to make this money back. Babies, don’t be fooled again, don’t participate, don’t short. Let them play the project themselves! Don’t go catching the falling knife or touching the top anymore. Don’t pay for these project teams!
I held my BEAT position for 1 day, and the funding fees cost me 3000 USD. I opened a position of 4000 U, which is worth 40000 U. What does it mean to collect 10 in funding fees for a day? If I continue to hold, they will eat up all my principal in the sideways movement. 😃 I cut my losses, you all can short now. Once the funding fees return to normal and revert to every 4 hours, the final value will be 0.