When you are a market maker, or even a small whale, you have the ability to control the price of the asset, shift the market the way you want in your favor.
If you have got a dollar, and that dollar can buy you an apple, Why not buy 2 apples for the price of 1$ instead of one?
How? By Stiring fear that the apple will rotten in your adversary's hands, so he will sell you his apple for half the price, only for you to sell it for a dollar and a half.
Three years ago, i bought around 20,000$ worth of solana at a price of 95$ each.
Back then I was so inexperienced and without any knowledge, hoping it would go to 150$ and i would be making around 10,000$ in profits.
At this time, Solana was retracing from a 231$ High, Something which seemed possible to reach again, to my knowledge it was on a downward path with no stopping all the way down to 15$
Luckily, and for some reason, i sold my Sol's for just 5 $ profit on each SOL.
Afterward Solana dumped to 9$ on Dec 2022 "You can revise the chart for the period between "Jan 2022 to Dec 2022"
If you are thinking about buying Solana right now at this price level, you are doing a big mistake.
Yes it can pump from here, but it can also dump and you will be stuck for a long time if it doesn't visit that price again, at least for the near future.
So when to buy? Wait till a major retracement happens and you can enter, that way you can at least have a better entry and put your stop loss at that entry and you are in a risk free trade.
Remember, Buy when it's red, sell when it's green.
I only started liking solana after getting my hands into kongz, as you all know that meme coins are created on the solana network and are directly affected by it's price.
so fortunatly solana is going to 300$
It did get close to that red line tho, which i predicted earlier this year that it needs to visit.
Some of you - who are still following me from back in February -probably know about my story with the Degen Kongz token, so i want to make some things clear.
This coin isn't created by me, I had invested around 12,000$ "Pretty much everything" in it back in May 2024, As I'm known for my risky, bald and crazy investing habits, I took the risk on hopes of getting back the money that I lost two years ago.
Back then, I've heard about decentralized trading, you probably saw posts with headlines like "How to turn 5$ into 5 Million.. etc", Yup, that's decentralized trading.
Decentralized trading is how $PNUT ended up being on Binance, $PNUT started off as a decentralized token on the solana network, and due to it's team work and Advertisement and money poured into it, it turned out the way it is now.
Back to our topic, I joined Degen Kongz back in May and it was a random pick for me, just a token, randomly picked, I thought at first about the possibility of turning my12,000$ into 50,000$, but turned out that the developer "the guy who created the token" was a scammer.
The story unfolded quickly from there, but the short version of it, I took over the token through what is called as a "community take over", that was on May 1st of this year.
On May18th, through hard work and dedication, the token did a 10x, my money Went from 12,000$ to 48,000$ in just 17 days, but i never sold,
Why? Simple, i hold 10% of the total supply.
Plus, i wasn't alone in this, we were a team of 5, Me, Malina, Normus, Droop, Raza.. and a wonderful community of enthusiastic people, Selling at the top would have had a devastating effect on all the work we did over 17 days, All of us still holds up till this day.
I'm asking you a little favor, if you got an extra dollar here or there, if you had made any money from my trades, just create a solflare wallet and throw it on Degen kongz, help me re-ignite this dying star.
Who knows, maybe one day it becomes your best investment.
It's now unclear what's going to happen next, the market looks bad from a technical view yet it's pumping.. so, that's the time you sit on the side line and watch.
LIVE
N4G
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Medvejellegű
To be honest, the market doesn't look good from this point of view.