When some people say “bullish” or “bearish” they take it too literally.
What I mean is during”bearish” times they think there is 0 opportunities to make money.
And when times are “bullish” you can throw a dart at the board and pick anything to make money.
Funny how they think this way but reality is always the opposite.
There are new coins launched everyday in the crypto world.
I remember when there was a hand full of coins and a couple of scams to worry about and thats it.
Nowadays anyone with an internet connection and a device with some crypto can launch their own coin.
Knowing this, there are people who have bots set up to detect newly launched liquidity pairs and to instantly buy in.
How much they buy in with is something I can’t explain. Sometimes they get $10 worth sometimes $500 worth but this simply act on its own can pump some coins to ridiculous levels. These kinds of transactions sometimes have 100,000% slippage enabled so the transaction doesn’t fail.
Here is just 1 of many examples of coins that shot up on launch. This particular coin was launched on Pulsechain, which is actually the worlds biggest airdrop, if you had any coins on Ethereum last year you have a copy waiting for you on Pulsechain, I heard lots of erc20 copies have some value on Pulsechain, im sure you know how to check if you are familiar with block explorers.
Already there are theories and stories of “insiders” or “bots”. Regardless of the narratives, the reality is on the chart.
The bullish narrative is this individual is making around $1,000,000 a month in yield and has pumped similar coins to ridiculously high levels. The speculative play is hoping the founder, who apparently is holding 95% of the coins as a benevolent actor, ends up throwing some of his juicy farm yields into his own token and take it to the moon like he has for some other low supply coins.
The bearish narrative is these are a bunch of grifters who buy and sell their own coins with themselves to push prices up and profit when outside money comes in buying at such high prices….
Either way, prices have gone up violently since launch and this chart is not a unique ones, there are coins all over the place making moves like this.
Apparently someone bought $350 worth of this coin and cashed out completely with around $100,000… not bad for a 24 hour trade… hope they don’t go crazy with all this sudden wealth.
If you are still reading this, at the end of this sentence close your eyes for a moment, and imagine hive/leo prices hockey stick up to $300… would that change anything for you?
