Observing a dip in DEGO
Anyone into hot potatoes games?
Looks like we've got a nicely shaped bottom sign on DEGO, a low volume DeFi token.
Basically this is how an articulated bottom is usually looking like for many tokens.
So to briefly review this pattern once again.
- 1. Age Consumed spikes, indicating a lot of dormant tokens moved at once (like losing patience):
2. Network Profit/Loss recording a huge loss (patience lost with pain):
3. Transaction volume, trading volume and onchain activity increased after that:
4. Top transaction table helps to discover a transaction triggering this, and related wallets:
5. Historical balance tool visualizes related whale's moves:
Do you see this guys sold once in a big loss after patient increasing position step by step? It's green line over purple price. Btw he was a #10 holder in absolute top DEGO holders.
Here we go. In general all above could point to a relatively low risk in a token at this point. Much more risk on DEGO specifically because of it's low volume nature.