Ok guys, here's my final verdict about $SAGA in its 4 days of trading.
When it launched I witnessed it at $4.7
I admit I made some profits through scalping. But after it reached $7.8 ang crashed to $7.1 I stopped scalping and began to analyze the trading pattern. Until it kept on falling down to $6.
Then I thought it will bounce already, but no it kept falling to $4.9 then stabilized at $5.1
I bought some hoping it will start rebounding. But it just kept falling again.
Then I thought it's impossible to go down to $4.7 because I witnessed some whales who bought beyond beyond $5 to $7+ so it might be illogical if they dump what they bought below $4.7 which was the starting average price.
But now it's at $4.5 and some whales are buying 100k+ in quantity at low price only to dump again after the price bounces a little. And the cycle just keeps continuing.
The question now is, who would have such a huge amount of token supply to freely dump below the starting average price of $4.7 if not the Saga team or Binance team themselves?
My gutfeel now is I think we are being played around by these teams and their seed investors. They're raking the money out of the innocent traders, they are liquidating their personal pre-mined tokens.
Since the start of trading from $4.7, I think everyone who bought high but were not able to exit early have lost their money.
I sold the tokens I bought at $5.1 to a loss of $4.7 but I'm going to buy again when the the prices goes down to $4.5 or less. But this shorting strategy is too risky so this is not an advise.
If the price keeps free falling lower than $4, then I think we've all been scammed by Saga team and Binance. It's time to move on to the next profitable coin.