Big G's review of PEOPLE's crash: evaporated 28% in one day, who is dumping?
Brothers, today's drop of PEOPLE is truly shocking! A 28% drop in one day has left the retail investors stunned. Let’s get straight to the point and see who's really behind this!
The macro environment has backstabbed us
Old Powell has recently hinted that interest rate hikes may not be over, scaring global capital to hide in the dollar, and the crypto market is caught in the crossfire. Bitcoin leads the plunge, and smaller coins are suffering even more; low circulating coins like PEOPLE are being treated as cash machines, with capital fleeing faster than anyone else.
The project team is just making empty promises.
The PEOPLE community has been promoting its ecosystem for half a year, but as of now, not a single decent DApp has been launched. Meanwhile, games on the SOL chain are making a fortune, while PEOPLE is still upgrading its white paper, causing investors' patience to wear thin, and major holders are leading the sell-off to escape.
Technical collapse triggers a chain explosion
Once the key support level of $0.015 is broken, stop-loss orders flood the market like rain. On-chain data shows that a giant whale dumped 80 million coins in one go early in the morning, directly crashing the pool, leading to retail panic and a spiral price drop.
Regulatory Heavy Blow
South Korea has just announced a severe crackdown on 'air coins', and the PEOPLE team happens to be holding a conference in Seoul, raising market suspicions that the project team might be under scrutiny. Once the news broke, the PEOPLE trading pair on the South Korean exchange Upbit plummeted 15% instantly, causing a domino effect.
What to do next?
Spot traders: Around $0.01 is last year's dense accumulation area. If it can hold, it might rebound, but don't go in heavy!
Contract traders: Stay away! This kind of high volatility coin can spike at any moment, and liquidation happens faster than eating instant noodles.
In short, this round for PEOPLE is a total disaster with 'timing, location, and harmony' all failing. Remember, never trust value coins in a bear market; the quick to run are the winners!
For the next layout direction, I plan to look for those altcoin profit opportunities together with you, expecting returns to multiply by 10 times is not a problem. Like and comment, and I’ll guide you through the entire bull market!
