Cow returns to speed!? OM co-founder issues 9-day recommendations to stabilize morale. 15-minute short-term response explodes. However, the sudden explosion may be retail investors' self-rescue. I believe there are several possible scenarios for this situation:
As we have seen, the OM coin plummeted over 90% around 2 AM on the 13th, dropping about 96% from its peak. What does this mean? It’s roughly like having your investment cut in half, and then experiencing three more halving events—it's that kind of situation.
The most likely scenario is that there is an Asia-level, or probably China-level user, who opened a contract at a high point. Perhaps he saw the high returns of the OM coin, invested in it or added some leverage, and then went to sleep, opening a full position. While he was sleeping, the main force launched an attack, completely wiping out his position. When he woke up the next day, his money was gone.
The second possibility is that the coin itself has little value but a high market capitalization. I checked, and even after a 90% drop, it still has nearly 600 million USD in market cap. It may have deliberately been pushed up before a violent sell-off, trying to create a traffic window similar to the Luna incident, to offload at these positions. You can see that the trading volume exploded below as well. If this is indeed the operation, then it was successful. Because this coin was pulled up from a very low point, it has increased by about 700 times, and even if it drops by 95%, it still retains around 10 to 20 times its value. Selling at this point would still yield a hefty profit.
