After a plunge of $700 million, the ultimate fate of $TREE : 0.36 or even lower?

TREE's sharp decline was caused by airdrop sell-offs, Coinbase's 'experimental label' scaring off institutions, and poor liquidity due to retail investors in South Korea, compounded by the Federal Reserve's interest rate hikes and capital outflows.

On August 4, the entire market plummeted, with TREE liquidating $711 million in a single day, intensifying panic. On-chain daily active users are only 18,000, with a price-to-earnings ratio exceeding 80 times, indicating a significant bubble. The project has no substantial ecological progress, the technology/model has not been validated, the 'experimental' label carries high risks, and could trigger further sell-offs.

In terms of operations, it is recommended to short at high levels, shorting around 0.385, and looking for a drop to around 0.36!

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