$RAY Today there was a slight increase, Brother Yong will analyze this coin for everyone.
This coin is the decentralized exchange token on the Solana chain, with a total supply of 555 million pieces, used for trading fees, staking, and governance. It is suitable for long-term holding but has high volatility.
What are the reasons worth holding long-term?
1. The short-term increase is too large, posing a risk of correction.
Today RAY rose by 22.87%, reaching a price of 2.46, but technical indicators show bearish signs, which may indicate that it cannot rise further.
2. The project has potential but the competition is fierce.
RAY is the leading DEX in the Solana ecosystem, and may benefit from the long-term development of DeFi, but there are many competing platforms, so it depends on future usability.
3. The risk of whale sell-offs.
Recently, large holders have been secretly selling RAY, incurring losses upon resale, which may trigger panic selling, so one must be cautious of short-term volatility.
Therefore, holders should be careful; if you feel you cannot hold on or do not know which coin is worth holding long-term, you can call Brother Yong, who will continue to follow up.
Focus for the day: OM SUI SOL FUN BTC
