Ihtisham_Ul Haq
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๐จAUCTION is just another chart like $TRB.
Apart from the name, there's not much difference.
Let me take you through the playbook ๐
โ Whales withdrew huge amounts of AUCTION from exchanges (๐ฎ๐ฒ% ๐ผ๐ณ ๐๐ผ๐๐ฎ๐น ๐๐๐ฝ๐ฝ๐น๐)
โ Price started to go up due to supply crunch
โ Retail looked at the price pump and tried shorting it
โ Funding rate flipped negative and prices kept going up, resulting in a massive short squeeze
โ Whales made money both from price appreciation by going long and also from a negative funding rate.
โ After that, whales started depositing $AUCTION on exchanges (๐ญ๐ด% ๐ผ๐ณ ๐๐ผ๐๐ฎ๐น ๐๐๐ฝ๐ฝ๐น๐)
โ Price dumped ๐ณ๐ฌ% ๐ถ๐ป ๐ท๐๐๐ ๐ฎ ๐ฑ๐ฎ๐๐, making a similar Burj Khalifa pattern.
With AUCTION, whales made money in 4 ways ๐
โ Going long when prices were going up
โ Negative funding rate
โ Price appreciation after they bought
โ By going short while they were dumping on spot
Needless to say, retail lost money on this in every possible way.
Apart from the name, there's not much difference.
Let me take you through the playbook ๐
โ Whales withdrew huge amounts of AUCTION from exchanges (๐ฎ๐ฒ% ๐ผ๐ณ ๐๐ผ๐๐ฎ๐น ๐๐๐ฝ๐ฝ๐น๐)
โ Price started to go up due to supply crunch
โ Retail looked at the price pump and tried shorting it
โ Funding rate flipped negative and prices kept going up, resulting in a massive short squeeze
โ Whales made money both from price appreciation by going long and also from a negative funding rate.
โ After that, whales started depositing $AUCTION on exchanges (๐ญ๐ด% ๐ผ๐ณ ๐๐ผ๐๐ฎ๐น ๐๐๐ฝ๐ฝ๐น๐)
โ Price dumped ๐ณ๐ฌ% ๐ถ๐ป ๐ท๐๐๐ ๐ฎ ๐ฑ๐ฎ๐๐, making a similar Burj Khalifa pattern.
With AUCTION, whales made money in 4 ways ๐
โ Going long when prices were going up
โ Negative funding rate
โ Price appreciation after they bought
โ By going short while they were dumping on spot
Needless to say, retail lost money on this in every possible way.
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