Last cycle I bought TLM, days after the listing for 0.9 dollars, I thought it was cheap because it reached almost 6 dollars at the launch. But it never reached my purchase price again.
trading_io
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It seems you're cautioning against investing in $ME , particularly due to the following reasons:
1. Presale Pricing: Early investors bought tokens at a low price of $0.30. They are already sitting on significant gains, which might create selling pressure, especially if the price rises to $6 or $7. These early investors might look to cash out once the price appreciates, making the token's rise unsustainable.
2. Lack of Innovation: You mention that the project doesn’t bring anything new to the table, suggesting that it’s simply another NFT marketplace, which could fail to distinguish itself in a crowded market.
3. Token Unlocking: With only 13% of the total coins unlocked, there’s a large amount of tokens yet to be released. This could potentially cause significant inflation in the market once those coins hit circulation, diluting the value and putting downward pressure on the price.
Based on these points, you're suggesting that shorting $ME could be a good strategy, as it seems vulnerable to price manipulation by early investors, a lack of differentiation in the market, and potential dilution from unlocked tokens. #BitcoinKeyZone #BinanceListsVelodrome
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