The price of ZAMA token has plummeted, everyone!
As expected, the coin lives up to its name, ZAMA, smash it? Smash!
The community has suffered from ZAMA for a long time, finally unable to endure ZAMA's manipulation, they have started a collective strike. In fact, I always wanted to wait for ZAMA to make a big surge before running away, but unfortunately, no opportunity was given.
ZAMA went from launching at $0.11 to $0.022, a drop of 80%. Look at the adjacent project, ZAMA looks like the project team is running away, but in fact, it is the market killing the valuation.
I thought there would be a large token unlock, but it just launched. A careful analysis of this drop shows that it is purely a structural collapse of high FDV and low circulation. The circulating supply is only 20%, with a fully diluted valuation propped up at tens of billions. As early holders slightly loosened their grip, the long positions in the contract became fuel.
In 24 hours, around 440,000 long positions exploded, with the funding rate dropping to -1.89%, and the short army was truly crowded to the extreme, causing a stampede among the longs that triggered a chain liquidation.
Moreover, the RSI is only 19 now, and the lower Bollinger Band has also been breached, a typical panic sell-off. With a trading volume of $430 million, all the chips are bloody in turnover.
This is already extremely oversold. Do you think it hasn't dropped enough and continue to watch, or are you ready to enter the market to bet on a rebound?
