Can you analyze why this coin has dropped so much, brothers?
Project team's sell-off caused panic: Monitoring shows the project team's address suddenly transferred 2.5 million WCT to Binance, leading the market to speculate a sell-off for cashing out, which triggered panic selling.
Leveraged contracts caused a chain reaction of liquidations: An extreme negative fee rate of over 40% triggered a domino effect, resulting in 4 hours of liquidations totaling 4.8 million dollars, accelerating the price collapse.
Korean market liquidity trap: 35% of the trading volume is concentrated in Korean exchanges, with concentrated selling pressure lacking support, causing prices to drop like a kite with a broken string.
These are just my personal thoughts, brothers, please make your own rational judgments 🤔
If you are stuck and have no idea about bottom fishing, then perhaps following my lead might surprise you.
Focus for the day: OM SUI SOL MASK LPT
