๐ฐ๐ฆ How the Market Maker Tanked the $WATER by 70% and Made $4 Millions!
๐ฆ 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? ๐ค
๐ข 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!"
๐ 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.
๐ฐ 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.
๐ "To protect the community, we lowered the price to a fair level," the firm emphasized.
๐คฌ But the community is outraged. Um, and why is that interesting? ๐ง๐
