🔥 #AUCTION is Just Another Chart Like #TRB

Apart from the name, there's not much difference.

Let me take you through the playbook 👇
➙ Whales withdrew huge amounts of #AUCTION from exchanges (𝟮𝟲% 𝗼𝗳 𝘁𝗼𝘁𝗮𝗹 𝘀𝘂𝗽𝗽𝗹𝘆)
➙ Price started to go up due to supply crunch
➙ Retail looked at the price pump and tried shorting it
➙ Funding rate flipped negative and prices kept going up, resulting in a massive short squeeze
➙ Whales made money both from price appreciation by going long and also from a negative funding rate.
➙ After that, whales started depositing #AUCTION on exchanges (𝟭𝟴% 𝗼𝗳 𝘁𝗼𝘁𝗮𝗹 𝘀𝘂𝗽𝗽𝗹𝘆)
➙ Price dumped 𝟳𝟬% 𝗶𝗻 𝗷𝘂𝘀𝘁 𝟮 𝗱𝗮𝘆𝘀, making a similar Burj Khalifa pattern.

With #AUCTION , whales made money in 4 ways 👇
● Going long when prices were going up
● Negative funding rate
● Price appreciation after they bought
● By going short while they were dumping on spot

👀 Needless to say, retail lost money on this in every possible way.

cc: WiseAdvise 📌