#Mask
Mask Plummets 50% Today, What's the Reason?
What is Mskcoin MASK (MAK)?
Mskcoin MASK is a decentralized blockchain public network jointly initiated and governed by international organizations such as the European Union and the IMF, dedicated to creating a decentralized WEB3.0 ecosystem and a privacy anonymous functional ecosystem application platform.
Analysis of the reasons for the 50%+ plunge in Mask coin today
1. Whale's continuous selling, market panic and stampede
At dawn, an address frantically sold 3.26 million MASK (accounting for 3.26% of the total supply) into Binance, directly cashing out 6.1 million US dollars, with a profit of 2.01 million US dollars 510. This wave of operations was precisely stuck after a flash crash of 52%, a typical "profit-taking after a plunge", ruthless!
Earlier (June 2), another whale sold 750,000 MASK at a loss of 360,000 US dollars, causing MASK to plummet by 17%23 in a short time. Continuous large-scale sell-offs directly collapsed market confidence.
2. Liquidity crisis, small market capitalization coins can't withstand whale operations
MASK's market value is not large in the first place, and a whale's one-time sale of 3%+ of the supply directly cuts the price in half due to insufficient market funding.
Old saying in the currency circle: "Small coins, whales tremble, and retail investors are all fractured." This time is another classic case.
3. Fragile market sentiment, FUD (fear, uncertainty, doubt) spreads
A similar plunge occurred in April, and CEO Suji Yan urgently called for an "investigation" at that time, but this time he didn't even let out a fart8.
In addition, Meme coins such as Trump coin and Dogecoin have been falling recently, and the overall market sentiment is bearish, and MASK has become a victim.
Conclusion: Don't touch it in the short term, wait for the whales to finish selling and then look
This level of selling pressure, short-term rebounds are all deceptive, unless new funds enter the market to take over.
It is recommended to pay attention to on-chain data to see if there are any large amounts of MASK preparing to run away. Don't be a taker!
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