Someone put millions into it and it got a big pump.
But dont be optimistic. It can fall down the same way as #auction fell.
Be careful of whale manipulations. Whales eat small fish like us who see a big green candle and run after that, the get trapped for weeks or even liquidated.
My advise to small investers is always prefer minimum leverage or even best option is always spot.
All whales and millionairs trade only in spot and also in famous coins with big volume.
All other non famous coins which suddenly appear with huge gains and then disappear for months are manipulated coins. If such coin has a total capital of 100 million. Then 60-80 million belongs to the owners or coin. who keep on putting in and out their money to get maximum liquidity and crush all small fish, and they never follow any basic crypto trends amd patterns, they setup a trap then wait for maximum fish to gather in, then crush them in few minutes.
Moreover, majority of crypto coins spend only 10% time in upward direction and 90% in downward.
Big green candles form in few minutes, a lot of people go long, then it will start a lot of small red candles and drain you mentally emotionaly and economically.
Whales earn more in short positions then long ones.
last advise.
Invest only that money which dont need for next 1 year. And never set any trade where you can be liquidated. Where there is possiblity of liquidation they will certainly liquidate you. That is how this market works.
for scalpers. take small profits and run away from that coin or you will lose your orignal money for more greed.
Stop dreaming to be a millionaire by crypto overnight.
Thanks.
