PRICE MANIPULATION
Airdrops, the phenomenon of receiving a brand new crypto for buying and holding another are a true double edged sword. The days of free money and big pumps appear past and the trend of epic dumps and price manipulation has set in. Where in the past a trader could expect a big run up in price before an airdrop, now the opposite seems to happen. $ETC, ethereum classic, had a nice run up, but then, contrary to most's thinking, dumped just before the fork to Callisto. $PRl Oyster Pearl just did the same.
EPIC DUMP
$PRL, a strong project with a mainnet release coming April 30, was expected to pump in anticipation of it's airdrop of $SHL. It did not. Instead it was subject to huge sell walls, massive volatility and alot of accumulation by huge traders. I got in this action myself, increasing my stake of $PRL by 10% by selling the small pumps and buying back low. But the fireworks came only minutes from the airdrop. The price quickly pumped 15% then seconds after the airdrop dumped over 100% to below 6000sats. A panic sell ensued. I bought the blood, but many sold or or caught with bags as the price has not yet recovered from the dump on Kucoin.
I'm not a financial adviser, this is not advise.
Trade 16 cryptos on Robinhood, get a free stock for signing up: https://share.robinhood.com/benc461
