Just listed on Binance, $SYRUP briefly recorded an extreme spike to 1.0000 USDT, before experiencing a sharp correction and is currently trading in the range of 0.2361 — down more than 76% from its peak in just a matter of hours.
This is a classic listing pattern that often occurs, where post-listing a coin or token is greeted by a high liquidity spike and then followed by a massive sell-off from those who held the coin initially. The price opened at a lower area (0.1432), quickly lifted high by aggressive buyers, and then hit back significantly as distribution began at the peak.
Technical highlights:
* No strong support structure has formed due to the movement being too fast and vertical.
* This extreme volatility indicates the dominance of speculators, not long-term investors.
* With such a deep correction and minimal accumulation levels formed, the risk is still very high for those looking to enter now.
Disclaimer: Not Promotion & Not Financial Advice
