Let's talk about the reasons for being bearish on dood.
Everyone is bearish on new coins, so there's no need to mention that.
This is meaningless; everyone knows the situation, and opening a position lacks logic.
First of all, the market cap appears too large.
Currently, at a price of 0.0074, the market cap shows 58 million.
For new coins now, this is definitely an overestimation and cannot be higher.
Secondly, and most importantly.
Its circulating CEX liquidity is 1 billion.
Binance alpha 300 million, OKEx activities 100 million, Binance Chain airdrop unknown.
Then the total amount of airdrops for NFTs and others is 4.3 billion, with the first release of 10%-20%.
How will the remaining be released? Spread over 77 days, releasing daily.
In other words, what does this mean? There will be sell-offs every day, just like mineable coins.
No APR for you, yet daily unlocking and selling pressure.
So, what kind of person would dare to buy this coin?
Either they don't understand, or they enjoy being hit by airdrop sell-offs every day.
