Why is this coin going down?!!! Why have I been accurately targeting this coin with my brothers, continuously making profits from short positions? This rhythm, I ask who else! Speaking
1. Logically
No actual use: DEGEN is a Meme coin, purely speculative, with no real value support. Once the hype fades, the price can easily crash.
Heavy selling pressure: A large number of tokens may be unlocked (like airdrops or team cashing out), with many sellers and few buyers, causing the price to drop.
2. News
Negative news: For example, large holders dumping, project teams running away, exchanges delisting, or overall market downturn (if Bitcoin drops, Meme coins drop along with it).
3. Technically
Breaking key support levels: For example, previously $0.01 was a strong support; once it breaks, more people panic sell.
Indicators worsening: RSI oversold, volume increasing while price drops, indicating funds are fleeing.
On-chain data anomalies: Large wallets transferring tokens to exchanges may indicate a dump.
Summary
The sharp drop of DEGEN is usually caused by a combination of "no value + negative news + technical breakdown." Meme coins are extremely risky, with wild price fluctuations being the norm; participate with caution!
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