Another cabal token.
It got the attention of ZachXBT, who tried exposing them some weeks ago.
But it hasn’t crashed or rugged since.
I don’t think that’s the play here quite yet.
95% concentrated supply
Selling that supply would mean the end of the endless liquidation harvesting they are doing, by moving the price heavily in any direction they please.
Which seems to be a great source of income, maybe greater than yanking all the liquidity at once.
Scarcity is an interesting tool.
Many, many shorts have piled into this one.
More shorts than there are likely even tokens available.
But due to scarcity, the only one who can really sell it into the floor hard is the cabal that holds it.
That makes a odd situation where, after now fully airdropping, there is really only a relatively small amount of supply hitting the market through unlocks, until a cliff hits around late July.
And the cabal has been diligently buying the airdropped tokens up to regain their full control over the price.
As long as the cabal has USDT funds to keep buying the remaining uncontrolled supply, in the same way it can dump, they can easily keep spiking the price and destroying shorts.
It reminds me of LUNA.
Yeah, we all know this isn’t right.
The instinct is to short it.
But the more we collectively short it, the more it can go up.
It’s the dokwon playbook, using shorts to fuel a rally.
A rally which will ultimately end, but my gut says that it will end when most have lost breath to short it.
Again this is not me giving you financial advice or a solicitation to trade it.
This is me telling you to be extremely cautious if you are trading cabal tokens like this.