Will PNUT being sued by its owner be a good thing?
Has XRP's frequent lawsuits affected its rise?
Should we buy the dip on PNUT now?
Mark Longo suddenly announced his independence, issuing a new coin called Justice, and publicly stated that he would sue the PNUT community.
This move instantly caused a stir in the market, making the already turbulent crypto space even more confusing.
It is reported that Mark Longo took such drastic action because he was dissatisfied with the PNUT community's promotion and fundraising efforts.
He claimed that although the community promoted the squirrel incident and donated 50,000 to him, he did not receive the respect and return he deserved.
Furthermore, Mark Longo also stated: This movement is mine, and I will decide who can enter! This authoritarian attitude undoubtedly angered many members of the PNUT community.
Due to the impact of Mark Longo's lawsuit, PNUT's price has been declining.
PNUT has now become an orphaned currency, with its price trend full of uncertainty.
Meanwhile, the new coin Justice issued by Mark Longo is suspected of being involved in insider trading.
So, should we buy the dip on PNUT now?
It is still too early to buy the dip on PNUT.
PNUT needs to drop below 1 USD for it to be worth buying the dip, or a huge long shadow candlestick at the bottom must appear before considering an entry.
If Bitcoin experiences a significant drop, the prices of Meme coins like PNUT may also be greatly affected.
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