The #MYX has really gone crazy, surging nearly 300% in one day, with a market cap skyrocketing to 150 million dollars, and the trading volume even surpassing the market cap, all fueled by hot money frantically speculating.
Now the price has rushed to around 1 dollar, and the long-short risk is increasing.
From the market perspective, the large holders' long-short ratio has soared to 1.75, with big players aggressively adding long positions, while retail investors have more short positions, creating a typical situation of 'a few controlling the market while many watch the show'; in such times, volatility can be particularly intense. Trading volume has exploded, with a turnover rate exceeding 100%, and chips are rapidly changing hands, making it easy for new investors to get trapped.
In the short term, the price is already severely overbought and may adjust at any time, but if it can stabilize above 1 dollar, or even break through the previous high of 1.2 dollars, then it might rally again.
When playing with these small-cap altcoins, remember not to get too excited, control your position well, set stop losses, and run when you make a profit; don't linger in battle.
When the market is strong, one can become rich overnight, but a downturn can also make you question life; remember, being cautious is never a bad thing!
Strong recovery, assets doubling! Keep up with the momentum, layout in advance, and easily reap big profits
