This garbage coin has a trading pair online, and there's movement again.
Seeing a bunch of people in the square shouting to go long, I really wonder
Which time has a cryptocurrency just skyrocketed and never dropped just because it got listed on an exchange? Moreover, this coin dropped right after it got listed, and there’s likely a bunch of trapped positions above. After every such hype, the price usually drops back to the starting point or even lower.
Some say the market maker has a lot of chips, and if he didn't have chips at the beginning, he wouldn't have pushed the price up. Whether he’s willing to continue pushing it up is another matter.
There have been too many cases where such news leads to a drop afterwards. If you follow the trend and just bought in, you might get trapped right away. You need to be clear-headed! You can basically make money by shorting on a retracement, so why go for the trapped positions?
