DAFI - The reborn of Super Staking through an Hybrid Exchange
Many might have heard about DAFI either from the old buzz around its Super staking or possibly around its recent meteoric rise north of 2800% from local bottom to top on late January - early February, Or maybe because of the recurrent mention from one of the Crypto YouTubers out there: The Martini Guy.
But why the pump?
The recent pump was triggered by this post, in which a plan for an hybrid exchange were announced, in which the benefits and security of a DEX - Decentralized Exchange would meet the ease of use of a CEX - Centralized exchange. All of this with a fully scalable infrastructure.
But why de dump?
While the news of 11.5% token supply reduction is extremely bullish, there were investors, specifically a single whale which dumped hard millions of tokens on the burn announcement, probably taken profits after an over 2000% pump. Not much surprise here...
What now?
Dafi's price retraced about 70% to the $0.0138 level which is holding as a support with relevance since 2021, which might be forming a double bottom
This made confident enough to get a good pot of it at discount!
Is there more downside?
If there's something that we should know from crypto is that it's unpredictable, But I believe that educated guesses can be done.
This said, of course that if the support doesn't hold, DAFI might dump all the way down to the $0.0055, meaning over 50% down, which while not likely shouldn't be a discarded option.
An extra dump to those levels would mean a double down on it for me!
But why the pump?
The recent pump was triggered by this post, in which a plan for an hybrid exchange were announced, in which the benefits and security of a DEX - Decentralized Exchange would meet the ease of use of a CEX - Centralized exchange. All of this with a fully scalable infrastructure.
But why de dump?
While the news of 11.5% token supply reduction is extremely bullish, there were investors, specifically a single whale which dumped hard millions of tokens on the burn announcement, probably taken profits after an over 2000% pump. Not much surprise here...
What now?
Dafi's price retraced about 70% to the $0.0138 level which is holding as a support with relevance since 2021, which might be forming a double bottom
This made confident enough to get a good pot of it at discount!
Is there more downside?
If there's something that we should know from crypto is that it's unpredictable, But I believe that educated guesses can be done.
This said, of course that if the support doesn't hold, DAFI might dump all the way down to the $0.0055, meaning over 50% down, which while not likely shouldn't be a discarded option.
An extra dump to those levels would mean a double down on it for me!