🍋🍋🍋🍋🍋🍋🍋🍋$SAHARA SAHARA’s 35.9% 24-hour drop reflects post-listing volatility, profit-taking after exchange launches, and leveraged trading liquidations.
🟡Profit-taking after Binance/Up listings triggered sell-offs
High-leverage derivatives amplified downside pressure
🟡Market-wide risk-off shift toward Bitcoin dominance
Deep Dive
1. Primary catalyst: Exchange listing sell-off
SAHARA debuted on Binance, Upbit, Bithumb, and others on June 26 alongside:
- 8.15% supply airdrop (815M tokens) creating immediate sell pressure
- 75x leveraged perpetual contracts on Binance, where initial $0.31 highs reversed sharply to $0.0835 as over-leveraged longs liquidated
🟡- Turnover ratio of 3.48 signals extreme liquidity churn – typical of “buy the rumor, sell the news” dynamics
2🟡. Market dynamics: Altcoin weakness
Bitcoin dominance rose to 65.01% (up 2.08% monthly), while the CMC Altcoin Season Index sits at 22/100 – firmly in “Bitcoin Season.” Traders rotated out of speculative alts like SAHARA into large caps amid neutral market sentiment (Fear & Greed Index 49/100).
