🚰💦 How the Market Maker Tanked the $WATER by 70% and Made $4 Millions!
🦈 Gotbit Hedge Fund admitted to intentionally crashing the price of the meme token #water by 70% during its launch on the DEX Raydium. But why? 🤔
🎢 It all started on June 24 when $WATER surged by 83% and then plummeted. Analysts were concerned about token sales from the team, but Gotbit revealed: "It was us, the market makers, who sold as part of our MM operations!"
🔍 They explained that they were trying to protect the community from "snipers who bought #tokens right after the launch using special software. So, Gotbit decided to "take the money from the snipers" and support the price.
💰 The MM's mission? To provide equal opportunities for all #investors who bought tokens in the presale. They sold $4 M worth of tokens and claimed this move prevented 90% losses.
📉 "To protect the community, we lowered the price to a fair level," the firm emphasized.
🤬 But the community is outraged. Um, and why is that interesting? 🧐😁
