The vertiginous decline of the meme coin associated with COVID-19, from $70 to a miserable $7 in a matter of days, is not just another chaotic chapter in the world of cryptocurrencies. It is a stark portrait of how unbridled ambition and lack of scruples are shaping this market. While ordinary investors watch their resources evaporate like smoke, the architects of this farce prepare their next moves with cold calculation.
Two days ago, the unlocking of 330 million tokens — a maneuver that should have raised alarms — was followed by the announcement that the largest holders of the currency would win a dinner with the president. There is no naivety that can withstand: this is a cynical strategy to artificially inflate the value of the asset, taking advantage of the fascination with power and the illusion of closeness to influential figures. While small investors bear devastating losses, those at the top of the pyramid smile, knowing that the next wave of speculation will be fueled by empty hopes.
It is outrageous to see how public trust is being exploited as a commodity. The pattern is clear: create euphoria, drain resources, let the bubble burst, and then wave crumbs of prestige to rekindle interest. This is not financial innovation; it is a perverse game where the rules are written by those already packed to flee when the castle crumbles.
And the cycle continues. While some lose everything, others celebrate at luxurious dinners, consolidating a system where greed is disguised as opportunity, and manipulation is celebrated as cleverness. How long will we allow ethics to be trampled in the name of easy profit? The answer, unfortunately, seems to be in the hands of those who have already demonstrated that respect for others is worthless currency in their game.
It's not what I would do, but seeing this clear pattern of manipulation, buy the coin a day before the scheduled unlocks and wait for the price manipulation; the coin reached $16, going from $8 to $16; that was the time to take profit and wait for the next manipulation!
