Entry: 550 sat Target 1: 750 sat Target 2: 1200 sat
FA:
3/4 of all tokens = 11 billion are going to get burned, instead of being sold this month! Oh my... dear... wow... have spare pants? THIS IS WHAT I CALL A SUPPLY SHOCK.
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Completely incorrect. There are 17 billion tokens, of which just over 6 billion will be burned leaving 11 billion. The 6 billion will be burned from the NON circulating supply which is why the coins hasnt mooned. People were very bullish then read the document properly. They are burning 55% of the NON circulating supply. If the news you mentioned above were even remotely true then yes, your chart would play out. Lets hope everyone else gets it wrong too and buys so we all make money from not reading properly.
schizaar
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@bennydoda, On the other hand, when ppl hear that this asset will be under scaricity (kind of similar to bitcoin, which as we know is limited) then it probably wont be any cheaper as supply would be short while demand might rise. As announced - supposed to be released (many tokens to be bought, no worries) but insted will be annihilated (less to buy, higher the price).
Perhaps this is the bottom line regarding available volume - on seller's end it is easier to decrease supply (thus indirectly impact demand) than directly influence demand.
bennydoda
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@schizaar, Yes, but the current supply in circulation has increased, not decreased. They added more to the circulating supply. There is no scarcity in 11 billion coins. I took the gamble. Bought a ton. But we need volume now and quickly. I still think we will get a nice run up tomorrow, but not like we originally thought
johnne215
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holding a 646sat bag lol =(
MarcelV
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@johnne215, lol, heavy bag :) I am baghold 550... but today I got RICH from shorting Bitcoin lol prntscr.com/gytd82
johnne215
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@MarcelV, lmao i know my bag be so damn heavy hahah. all good. what exchange u short at?
DIYIrrigation
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@MarcelV, Thanks for sharing. Do you apply a stop-loss and if so at what level? F.e. 400.