I have already mentioned the three coins $ETHFI $WIF $BOME . If you have these in your portfolio, you are doing great right now. so far as you existed early on #ETHFI .
But I am going to talk about the recent gains from #BOME since I have not talked about it for a while now.
1. The recovery week : We can all attest to the fact that we are in a recovery week with ETHFI leading that recovery. So gains on coins like BOME and WIF might be normal and expected.
2. The hype around memes: With a recovery and a meme coin frenzy you definitely expect some gains from hot meme coins like BOME.
3. The down trend of ETHFI : Most people holding ETHFI are either holding WIF or BOME (for a good reason). So after making some profits from eTHFI which is now in a down trend, it is understandable that they shift their focus onto some of their other investments.
4. Dormancy for a while : Following a strict sideways dormancy for almost 10 days during a market melt down, it is also understandable that it bounces back strong . Now it is just a rare occasion that it bounced back to meet a recovery market and a meme coin frenzy.
5. Strong consolidation within it's price of around $0.0012 for almost a week.
You have questions asking if it is not the case for WIF too. Well it might be and I will delve into that soon.
Guys, you should be very careful with $WIF right now, I think some people are either orchestrating a well designed pump and dump or the market is in quite a well designed equilibrium(No losses and no profits). If you enter right now you may lose your funds. Check the chart all the buy orders are getting just enough or exact sale orders even if those orders are hours apart.
When you start seeing those signs it clearly tells you that the market is in quite a stable state such that those who bought are not really going after profits but rather after their capital(for whatever reason). They are such selling at prices a notch above their entry prices.
Or they strategically bought to drive the price up and have started dumping now. With each sell corresponding to a buy some hours ago.
But also , it may be that this is just one weird rare natural occurrence. 🤦♂️🤦♂️🤷♂️
With #WIF🔥🔥 getting the third position in the line of meme coins, it is not also surprising that people may overbuy it which drove the price up. And entering into the weekends people started selling for some weekend fun. So a pullback is not far fetched.
But ideally it never went up above $3.5 when #BTC hit $74k , so now that #BTC is $71k, $4.2 may just be a little daunting right now.
Whatever be the case the market is not stable even though it might look fine.
I know that a lot of guys out there started to panic and sell their $Ethfi tokens because of the corrective pullback started around thursday. Now why that pullback ? 1. Traders panicked : The meteoritic rise of #ETHFI clearly sent chills down the spine of a lot of traders, even though they made a huge profit from it.Hence they panicked and sold. That was expected .
2. It's launching and growth : Some people never expected an asset launched at $5.6 and went to $3.5 dollars in a day can get that kind of growth in just another arbitrary day(move from $3.5 to $5.4 in a day and $5.4 with to $7.1). But we have forgotten that it was launched at the time #BTC crashed from $74k to $60k. So accounting for it's delay in rising.
3. At $7.1 virtually everyone was in profit : At it's peak of $7.1 all those who invested in it were all in profits at this point. So everyone began to sell only those who bought at that price were somehow found wanting. But the good news is that most of them were those that had originally made profits and just bought for anticipating further rise.
4. Cutting losses: Due to a mixed of the above reasons, people tried to cut loses too early as all perceive virtually a very overbought asset. Again sold.
5. The approaching weekend: With $ETHFI being a gainer from Monday right into thursday will a thundurous bull run, the cool breeze of the weekend philosophy caught up with it and as such experience d a little pullback.
Again I am not really a fun of long write-ups. But you might have realized that kept mentioning a pullback instead of a trend reversal, so I will follow this article up with reasons why I still bullish more than ever about #ETHFI idstead of bearish.
Guys, honestly this is historic. Imagine moving from $7.2 to $8.1 in less than an hour. $ETHFI has shattered the scene of the crypto market. Just yesterday, so people thought that $6.09 was too much , now what ???
$ETHFI is currently doing a whooping $535mil in volume. such magnanimous sum. It is worth knowing that the price might still be eyeing a shoot to the moon 🚀🚀🚀🚀🚀 .
But w at I realized that shocked me was that it is behaving like detaching itself from the OGs #BTC and #ETH . No matter their price movements it is still surging like nobody's business.
$BOME . Especially $ETHFI it is crystal clear the price shooting. Anyone that bought it around $3.8. Will be swimming in profits now. In just two days it shot-up by almost 60%.
$WIF also had the very bullish outlook, just like $ETHFI. Even now with a better outlook. Even with all the meme coins coming around. Including $slerf, $Dogecoin20, $bonk, $boon etc.
#BOME even though it has being study for a while, I believe that it will shoot. Why with all the frenzy with the other meme coins, it is holding a strong fair price. It's movement will be quite clear soon I believe . I hope you guys made a huge profit. See you later.
4I can't believe I am saying this, but imagine praying for the market to go down. This bull run is a spectacle for us especially cashing in on #BTC#ETHFI#WIF🔥🔥🔥#BOME🔥🔥🔥 . But yes, a lot of the ETHFI guys may be worried about the bullish run of BTCand still with bull run why is the trading volume on ETHFI still calm ? That may be due to a few factors : 1. Even though there is a bullish run , #ETH can't compare to BTC and as such it will be understandable that #ETH based projects may not immediately shoot to the moon.
2. Also people diverted their focus on ETHFIowing to the decline of BTC more or less like a hedging instrument. So as BTCis up bullish again it is understandable that they look there too (I am one them :) ).
3. So that's that mean that we don't believe in ETHFI ? Absolutely not !!!, in fact it is on the contrary. Why ? i. You will only use a strong investment as a hedge right ? ii. Look at the trading volume of ETHFI and compare it to BTC you will be shocked to realize that even with more trading and activity on BTC but the price of ETHFI relatively went up to $4.5 and consolidating at there after consolidating previously at $3.96 even during the weekend, this signals that what ever be the case people are ready to hold on to it because they believe in it.
4. We all can see the performance of #WIF too. Even though I am quite confident that it will drop a little I am not so sure about ETHFI dropping significantly for a confident entry. We all have to be quite realistic that , it handled the bull run of BTC quite well.
5. #BOME also consolidating very well so far. But I am still waiting for a good entry.
So tell me what you think will happen next in the comments, a correction or a complete shooting to Mars.
I will leave it here for now. I will get into why #BTC shot up soon. Until then, peace out.
I was going to continue explaining the past of $ETHFI but I have to talk about it's future instead of it's past events. Let's be realistic , whether for short-term or long-term #ETHFI has surely shown signs of a trustworthy asset. I have told you before, just on monday it was launched and listed for $5.56 and within some few hours, it dropped to a meager $3.5. 1. Then came the crypto ecosystem downturn, it maintained it's resilience. 2. Then by wednesday it was hovering around $3.5 - $4.09, immediately picking up it's pieces. When #BTC was somewhere $64k. 3. Now it has turned it's high into it's low, i.e broke the resistance easily today. Playing between $4.09 - $4.3.
But what does all this mean for it's future ? Well that is quite clear. Those holding the token are not readily selling it (even though some few may panic sell).
More and more people are believing in the project especially with it's performance compared to #BTC.
The ideal price for most holders to gain their capital let alone make a profit is around $5.4 which is far from the current price of $4.3.
So this is the case where so much demand meets so little supply at a critical point in time where investor greed index is around 77.
So the current performance speaks for itself. As well as giving us a clearer insight into it's future. I will leave it here because the writ is already too long.
I have mentioned it to you guys before. That $ETHFI $BOME are serious pieces. Especially #ETHFI , so I will just give you a quick and concise break down of it's market.
1. Do you know that before listing it was trading at an average of 5.4$ , some people bought it far higher than that(even though they are few) according to the statistical data.
2.On Kucoin, the least price was during the presale was 5.52$ and they only offered 100$ of it. The next least was 600$ worth which offered it at 5.56$ ,then it was $5.6.
3. It was launched during the time when BTC and the ecosystem was experiencing a huge downturn. Mainly due to Larry Fink and his Black rocks move towards RWA.
4. When BTC had a free fall from $68k to $62k in a matter of hours #ETHFI used virtually a whole 30 hours to move from 3.5$ to 3.1$. What a remarkable feat.
5. And to make things more interesting some of the guys panicked-sold. But with all these headwinds it still struggled to go down to 3.1$. This tells you that so many people : 1. Believe in this project. 2. Have invested much into it. 3. Can see the true potential of the project. 4. Believe that with the impact this project is set to have on the ecosystem, it is worth their hold. So they held and refused to trade at just any price. No matter the what.
I don't personally like long writs so I will pause here. But will release series of articles to clarity all the above points and how they affected the price of $ETHFI . Also what caused the free fall of #BTC. ....
Guys, the number thing to do in a crypto down turn is what is most difficult which is remaining calm. Know that $BOME $ETHFI and even $WIF are going to shake just because of current conditions in the market. If you know you can sell with minimal loss and re-enter you can go ahead and do that. But know that there is no way just weeks btc halving it will crush. Since crypto is a fair and decentralized system of finance , you can always be sure that there are so many external factors that can immediately affect the pricing of a lot of currencies. You can help yourself keep calm and confident by diverting your attention to something of value but virtually free. That is why I used this https://pepecash.fun?ref=PepecashlpRZL0Bm airdrop to pass time as I watch the Market.
$ETHFI listed @ $5.7 now down to as low as 3.1$. The average trading price at launch was 5.4$. The chance has never been better. Remember a lot of people panicked sold, that was what caused this major dip. Starting tomorrow the market is likely to bounce back never getting this low again. Just observe the chart and see the resistance with which it went to 3.1 from 3.5. It took virtually the whole day to do that.
Also one of the reasons why people believed that it will rise above the $5.7 mark is because of $BOME and it's shooting to the moon. The cashing out of the 435million usd mysterious guy.
All you need to know is that $ETHFI is going to the #moon