Altcoin AI
@Humanityprot seems to have come up with yet another playbook.
In my view, this one is far more sophisticated than what we saw with coins like
$RAVE and
$LAB. Those cases were relatively straightforward: supply was tightly controlled, the tokens were not listed on Binance Spot, and prices were pushed on DEXs to influence the oracle feeds used for futures markets.
With ethereum:0xcf5104d094e3864cfcbda43b82e1cefd26a016eb , however, there is an additional layer. The project was hacked/rugged on-chain, liquidity effectively disappeared, and exchanges suspended deposits and withdrawals for
$H. As a result, the price relationship between CEXs and DEXs has completely broken down.
Retail traders see the massive collapse in the DEX price and naturally start shorting
$H perpetual futures on centralized exchanges.
Once the DEX and CEX reference prices are disconnected, the game largely shifts into the hands of the exchange and the project team.
Since bottoming around $0.05,
$H futures have surged to roughly $0.44 an 8x move. Meanwhile, funding has reached as low as -0.5% per hour, indicating an extremely crowded short trade.
Personally, I think the more negative funding becomes say -1% or even -2% the greater the probability of an aggressive short squeeze. At that point, I wouldn’t be surprised to see
$H revisit the $0.80 level.
Is anyone willing to go long against the crowd right now?
As for me, I’m staying on the sidelines and observing. If an opportunity presents itself, I’ll take it.