Let me give an example of a mistake I made not long ago; I shorted deep, which has also been the worst performer in my short positions over the past few months.
When everything was falling, deep was the only one that didn't drop, as stable as sui. Later, after the hacker incident with cetus, everything fell along with sui, and I made a little profit and ran away.
The logic behind my short was that I heard that many of the ecosystem incentives and LP incentives for sui were given in deep, and I thought that once the ecosystem projects got them, they would definitely sell. Also, the valuation was very high, with an FDV of 2 billion, betting that the market wouldn't hold steady. (This is already considered a very expensive "junk")
Does the short logic above sound quite reasonable?
But I overlooked one thing; sui has a strong whale (considered "gold"), and the right-side asset of deep's trading pair is sui, which is also printed by them.
Why did I choose to short? I shorted a coin that has a strong whale, and the whale can still print the right-side asset themselves.
