Talk about $CHZ , this coin is currently experiencing heavy wash trading, having retraced to 50% from this year's high, but in my view, this is normal. CHZ has increased from around 0.026 to 0.060 on a daily chart, doubling in price, and it surged before the fan coin sector even started, so a 50% retracement after such a rise is a normal phenomenon. Furthermore, CHZ has garnered significant discussion and attention from both KOLs and retail investors, so naturally, there will be selling pressure, requiring a drop and time to wash out the weak hands.
From a monthly chart perspective, CHZ's trend has not followed the majority of altcoins that have been dropping; instead, it has remained in a sideways trend for several months, which is a typical accumulation pattern. Therefore, from this direction, after this wave of wash trading for CHZ is completed, there will likely be a second wave of market movement.
Recently, the fan coin $OG $ATM has performed well, leading many to criticize CHZ as garbage. But what about when CHZ was rising? Every coin has its own performance timing; it’s not possible for every coin to always be performing. Many people chased CHZ a while back, got stuck, sold at a loss, and are now chasing OG, only to criticize OG as a garbage coin later. Such individuals are typical contributors to the market's losses.
Fan coins have a four-year cycle, regardless of the overall market conditions, fan coins will follow an independent trend each year.
Buy when no one is asking, sell when voices are loud.
