It is recommended to start a long-term short on REEF, as even if Bitcoin surges later, it is hard for it to escape the fate of continuous decline.

Why am I so certain? Just refer to other cryptocurrencies with similar trends to Reef.

TRB was $110 on January 3, 2024, and dropped to $41 three months later.

Gas was $7.3 on November 12, 2023, and fell to $2.4 eight months later.

Loom was $0.094 on October 19, 2023, and decreased to $0.039 nine months later.

High was $4 on June 10, 2024, and dropped to $0.95 two months later.

The above tokens, like Reef, surged and then immediately plummeted, followed by a long-term and continuous decline in price.

Such small cryptocurrencies require market makers to pump the price. Due to their low popularity, few believers, and lack of outstanding project development, along with the 'surge and then plummet' pattern that often leads to retail investors losing confidence, when market makers exit, there are hardly any buyers left.

Therefore, after such a sharp decline, these types of coins are difficult to escape a slow downward trajectory, making long-term shorts a viable strategy.