Let's see if we catch this mess! A foundation decides to buy its own tokens for a fortune, and suddenly, the price skyrockets! Could this be a masterstroke or just smoke that will dissipate? 🤔
The SOON token jumped in a way that left everyone speechless: an increase of 87.85% in just one day! 🚀 Imagine that, while the rest of the crypto market barely moved. The key to this surge is not a mystery, but a well-thought-out strategy from the SOON Foundation.
First, they put in a whopping $200,000 into a buyback program. What does that mean? The foundation is buying its own tokens at a fixed price of $0.14, much higher than they were before! It's like saying, "don't worry, the floor won't fall out." 🛡️ And if you add to that the fact that they burned 30 million tokens to create scarcity, well, the price only has one way to go: up.
Moreover, the chart turned in their favor. The crypto broke important barriers, those that experts call Fibonacci levels, and its strength (the RSI) is at its peak. This means that traders saw the signal and jumped on the wave, pushing the price even higher. 🌊
But, be careful! Because not everything is rosy. The derivatives market, where people bet with leverage (that is, with borrowed money 💸), is on fire. Interest rates are negative, indicating that many traders are betting that the price will go up, which can sometimes be a sign of risk. A push downward, and all that money could evaporate in a cascade of liquidations. 💥
In summary, SOON made a brilliant move to revive its token, but long-term success will depend on whether the foundation can maintain this trust and whether investors are not scared off by the high volatility. 🧐$SOON
