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Today, another 4 million tokens were unlocked. Will there be a dump?
Yesterday, I went long on RAVE at 2.3, and this morning it’s over 5 dollars.
This feels just like back in the day with TRB, where there were very many short sellers, and then the whales just exploded the short positions.
The higher the price was reported, then it shot up 100 times. At that time, the longs were happy—they could enjoy both the leverage of the price increase and the fees paid hourly by the short sellers.
This round of violent surge to $5.81 is the result of multiple factors stacking together; essentially, it’s a “short squeeze frenzy” driven by multiple catalysts.
The direct trigger: Coinbase listing news.
This is the most critical catalyst. Coinbase announced the listing of RAVE.
I don’t know if there are more positive signals or if more exchanges will list it. The whales feel they can still push it further. What do you guys think?