UMA has dropped like a dog, and it's not without reason! Big investors are cutting losses, projects are going flat, and funds are running away—three knives stabbing at x. Bottom fishing? Be careful of catching flying knives!

Why has it dropped to this bear-like state?

1. Big investors are collectively running away, dumping without blinking.

  • A certain whale has frantically sold 1.2 million UMA in just three days, directly smashing through the support level of $1.55.

  • Market maker Wintermute is synchronously retreating, pulling buy orders faster than anyone else!

  • Follow-the-trend panic selling: retail investors see big players running away, scared and cutting losses, causing a price avalanche!

2. The project itself is underperforming, and competitors are frantically snatching up market share.

  • Locked value (TVL) plummeted 22% in a week: the main product 'KPI options' is no longer being played with, and revenue has been cut in half!

  • Chainlink has a new move: launched a CCIP cross-chain service, completely poaching UMA's big clients (Aave, Synthetix)!

  • The team is slow to unleash big moves: the promised upgrade to 'oSnap V2' by the end of June is still nowhere to be seen...

3. Altcoins have been wiped out, UMA has become a cash machine.

  • SOL/ETH has surged dramatically: all funds have rushed to chase the leaders, and small coins like UMA are being drained!

  • Shorts are ramping up crazily: funding rates have turned negative (-0.01%), clearly indicating that shorts are pushing down hard!

Is it possible to bottom fish now?

Conditions for bottom fishing (none can be missed).

  • Price has dropped to around $1.45 (previous low strong support) + a one-hour chart shows a volume increase with a bullish candle.

  • Whales have stopped dumping: on-chain data shows large buy orders supporting the price.

  • Bitcoin is stable like an old dog: BTC must hold above $70,000, otherwise altcoins will crash again!

Absolutely not bottom fishing in this situation.

  • Continuously dropping below $1.50: like boiling a frog in warm water, completely unaware of where the bottom is!

  • Volume is like a dead fish: a rebound with no trading volume = don't run, folks, it’s just a trick!

  • The team continues to play tricks: the end-of-month upgrade is delayed again, leaving everyone feeling cold!


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$UMA