MYX Coin Surges: The Truth, Risks, and What to Do, I hope everyone can listen.
1. How 'crazy' is MYX now?
The price has skyrocketed to 18.5U, with a market cap exceeding 3 billion USD, but it has no real value supporting it—prices are being pushed up aggressively in the contracts, yet there's not much trading in the spot market (the main force is clearly in control), and the project has no substantial actions: the code on GitHub hasn't been updated, no token buybacks, no community engagement, and no practical scenarios for use, just like the “air coins” OM from that wave in 2021.
2. Why can it surge?
It’s just 'speculated', there's no other reason:
• The main force holds most of the chips, circulation is low, and the cost of pushing prices up is particularly low; they operate mainly in contracts, first liquidating the short sellers, then the long buyers.
• Everyone is afraid of missing out on making money (the FOMO mentality of 'the more it rises, the more you want to buy'), plus KOLs and the community hype it up, creating a short-term illusion that 'everyone is optimistic'.
• This coin has no actual value, the main force doesn’t worry about how dumping it will affect any 'ecosystem', in simple terms, it’s just used as a harvesting tool.
3. Risks to be definitely cautious about
• This is the 'fishing scheme': first, they raise the price to fool retail investors into following in, then suddenly dump it, and finally, contract players end up losing everything (previously OM, SHIB, and various 'meme coins' have all played this game).
• Don't think you can earn 'money outside your understanding': the main force needs absolute control to push things up this much, retail investors holding chips will be a hindrance, so for most people, once they get in, the market might be over.
• If you haven't bought, don’t be envious: missing out isn’t regrettable, once you take over, it's big losses, this kind of market only allows early investors and the main force to profit, those who come in later are basically 'chives'.
4. What should you do?
• For those who have already bought: sell in batches, first get your principal back, set a 'stop-loss' for the remaining profits (for example, if it drops below 10U, sell quickly), don’t wait for a sudden crash.
• For those who haven’t bought: definitely don’t chase high prices! If you really want to try, use a small amount of money (keep it within 50U, you can experience the truth of what I say, don’t invest too much, I worry about fans getting harvested).
• Learn a lesson: in the future, when you see projects with 'low market cap, low circulation, and main force control', be sure to ambush early, don’t wait until prices soar to follow suit.
Word limit, please check the next post for tips on contracts.