Since May, the price of Peoplecoin has been rising, partly due to its association with the concept of US elections. The token represents the concept of decentralized autonomy and once purchased the last publicly auctioned US Constitution artifacts at Sotheby's through crowdfunding, achieving the goal of jointly owning this symbol of human rights and decentralized spirit.
As the US election approaches, candidates need to win the support of new-age voters, and the number of cryptocurrency holders is increasing, and they have become an important group in the election. Next, we should focus on those meme coins that have been accepted and held by most Americans, such as PEPE and People Coin, which have the potential to attract the masses.
The message conveyed by People’s Currency attracts like-minded investors and gives them new hope. People’s rights in the market bring returns to investors.
In the past 24 hours, the price of $PEOPLE has surged 43.2%
The cryptocurrency market has been active recently, and the prices of many tokens have risen sharply. The governance token PEOPLE issued by Constitution DAO has performed particularly well. According to TradingView data, the price of PEOPLE has soared to $0.05322, a surge of 43.2% in 24 hours, showing an unusually strong growth momentum. Those who have kept up with the pace of Shiguang, this wave is comfortable!
The most special thing may be the name of the coin PEOPLE - People.
Why are people so obsessed with PEOPLE tokens? Perhaps its actual value remains to be seen, but its name has profound meaning. The word "People" fits the core concept of DAO and the vision of decentralization. In the concept, everything is decided by the people themselves, reflecting people's yearning and pursuit of democracy. The concept conveyed by the People's Token is a DAO organization with super strong consensus, openness, transparency and complete autonomy. This concept makes people full of expectations and dreams, and longs for a better future. The People's Token may become the next SHIB, which makes people excited!
In summary, the success of People Token is not only because it raised huge funds or formed a strong community, but also because it successfully attracted people around the world who are interested in blockchain and decentralization through a series of hype hotspots.
The story of People Token demonstrates the potential and charm of decentralized governance, and provides valuable experience and inspiration for future blockchain projects. In the ever-changing world of cryptocurrency, People Token and its community are undoubtedly a beautiful landscape.
People has soared! A simple and clear sharing of People's operation ideas. Among all the meme coins that have been listed and have ample potential liquidity, People's K-line has been somewhat unusual recently.
(1) Sort out the basic information of people
People was listed on ok on October 1, 2021, and then on bn on December 1 of the same year.
Since it was listed on Binance, it has been fluctuating and falling all the way, which is equivalent to BN users taking over OK users' orders. This thing has been on the exchange for such a long time, and it has not made any big moves or noises. Generally speaking, the cryptocurrency circle emphasizes playing with new things rather than old things. However, this round of meme narratives is hot and popular, and it can be superimposed on the upcoming US political election. Those who are interested in the origin and narrative of people can go and learn about it.
(2) Something must be wrong when things are out of the ordinary - let's look at the chain again
After a period of baptism and precipitation, people's holdings have undergone a round of adjustments, and the main large-scale holding addresses are located in the exchange. This stage is around the point marked as A in the chart, showing that a considerable number of people's chips are transferred within the exchange. The emergence of this situation may imply an important news: this project is about to undergo a "change of dealers", and it is rumored that the new dealer has the ability to have an impact on the Binance exchange. So, how does this "change of dealers" take place? One possibility is that the chips are transferred to the address of another exchange, and then the relevant news is spread. In other words, it is equivalent to buying a layer of "shell" on Binance. But be aware that even if Binance may turn a blind eye and allow this to happen, risk management and supervision still exist, and they will not ignore the large costs you incur when buying this "shell".
Once launched, if the project does not bring substantial benefits to the exchange, such as increasing trading volume and popularity, but just continues to fall and cut leeks, then it may face the risk of being delisted by the exchange. At this time, it is certain that the project will rise. The dealer or market maker will not spend a lot of costs and invest resources in the bull market and then forget about it. This step is regarded as part of the cost invested by the dealer or market maker. Although retail investors may not receive this information immediately, they still have the opportunity to enter the market later.
Point A is called a "test market". This test market can test the volume and eat up a large number of iceberg orders. This thing can be read, and the main force has at least as much energy and confidence as this test market. Drawing a signal can drive the big and small hot money in the market to rush together. A good K-line actually sends a signal to the market to announce the game against each other.
After the high point A falls back, what information can our funds read?
Generally speaking, the test position is unlikely to reach such a high level. Such a wide fluctuation at the daily level indicates that there may be subsequent actions. Otherwise, this tentative transaction is equivalent to unwinding those who hold historical positions, or giving money to those who hold insider information. Such an operation is meaningless.
In a bull market, we can predict the subsequent trend based on market information, assuming that the second high point is B, and point B is not lower than the height of the test at point A. In this way, we can formulate a relatively simple but reasonable trading strategy. According to the position of point A, we can adjust it according to our own holding capacity and determine at what price we should buy.
Because I believe it is expected to rise to the highest level of point A, below the first real bar, that is, below 0.045, may be a good buying point. If the price continues to fall, I will also consider continuing to buy at 0.03 or 0.02 to reduce the cost of holding the position.
After a period of shocks and washouts, the market has seen several hot spot changes. During this period, people may be criticized by countless traders, saying that this coin is really weak, rubbish, etc. This also shows the limitations and difficulty of short-term trading.
Then it rises rapidly to point B. So should I sell at this height?
The conclusion is: sell.
We believe that it can rise above the highest point A, but this cannot be done in practice because the market makers often set up false signals at both large and small levels. Especially after a long period of time, the short-term trading psychology will fall into the trap. It is not uncommon that people may be deeply trapped before the second high is broken.
For example, I bought some at 0.04, 0.03, and 0.02x, and the average holding price was about 0.03. When it rose to 0.06, facing such a target with a relatively large amplitude and no actual consumption and infrastructure, should I pay a part of my cost? In order to protect my average holding price, my holding cost continued to decrease relatively speaking.
As it turns out, the second high point B on the daily level did not break through the high point of point A, so there must be a point C. This is not only because of the height of the increase, but also because there is not enough volume in the middle, that is to say, there is not much external capital to push it higher, and the dealer does not have enough shipments to make a profit, so selling is also a safe and flexible choice based on the volume performance.
Then the process from B to C is the same as before.
It will also have a more reasonable buying point, which is the process from B to C. Combined with the overall market, we look at its rising time and the timing of its rise. First of all, BTC Bitcoin must not be in a state of diarrhea, decline, or danger, so the main force of people wants people's performance to be more eye-catching than other projects.
At this time, we can see the overall trading idea, and then after taking down the volume column of A, we can see here the maximum amount of chips we can buy. You can't buy too many. Before the next stage of pulling up, you destroy the balance of the game, which forces the dealer to squat on you and wait for you to cut your losses, right? The dealer can help you make money, but if you eat too many chips and want to grab too much cake, the dealer will think that you are not the same kind of person and are not suitable for the same car, so he will not play with you. We can control the maximum purchase amount on this point.
According to this idea, we can push it back to point C. Why does it fall after touching 0.07198? (Here I place a short order at 0.072. When placing a short order at this position, you can place a stop loss at the same time when breaking through the new high. The profit ratio is very good. The stop loss is narrow and the profit is achieved. When testing the small-level MA, you can take profit in batches. Unfortunately, there is no transaction) Because the volume from B to C has increased, but it is still not enough. Therefore, those who have funds and protect their own costs will take profits and exit again. Point a is still a high point, so there will be a good buying point, and the dealer’s preheating is almost done.
So now, is 0.6 a good buying point? Or a good selling point?
The difficulty of the game here has been upgraded. From May 15th to May 20th, people experienced a certain turnover, although the volume may not be enough, and the dealer may also increase investment according to the market situation, so why do we need to protect the position in the beginning? Because with the release of signals and the time of market making, the game situation will become more difficult with the increase of funds and attention. If you do a good job of profit-taking in the beginning, you can achieve negative cost and let the profit run, and wait until a certain signal appears again, and then choose to increase the bet or completely leave the market.
If it falls, I will continue to wait for a good buying point. If there is an intensified upward movement to attract market attention, I am also willing to blow bubbles with the dealer and look at the annual K. If there is a breakthrough here, the future will also be very imaginative!
