DERACE TOKEN / USD COIN on Ethereum (C88AC9...F2048D)Uniswap v2 (Ethereum)
Description
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Despite price action last night I believe the fractals are still in play with a few minor adjustments. So what happened? At the start it looks like there was sell off event just before the NFT horse drop went live... so short-term traders taking profits in anticipation of a sell off event (right they were).
After the horse drop went live the NFT horses were sold out on BSC & ETH within a matter of seconds (as expected) I stayed up last night to try snag myself a ticket but missed out unfortunately due to not having 0.4 BNB ready in my wallet for the transaction fee. I definitely was not expecting it to be that high but in hind sight was a smart move by buyers. Very smart move!
After the fast sellout we started to see the price drop from $2.90 all the way to $2.30 before being bought all back up (bullish). This tells me that a lot of people had a tantrum, and started selling their DERC. As well as trading their DERC for an "NFT Trading Token" to buy the second hand horses off the platform from people who got lucky and are now selling for a quick profit.
These 2 events are what I believed caused the drop in the price.
As I was witnessing this all happening I managed to add 23% more DERC to my position at $2.42 with the USDT I had on my Crypto.com exchange. Although I was a little surprised by how fast it was bought up considering how angry everyone was. Just a simple shift from weak hands to strong hands. I hope you benefited from the dip!
The team announced the next airdrop will be releasing 2000 GEN0 horses next round so hopefully we can get lucky and purchase one!!
I'm still extremely bullish for DeRace and what they are building.
they don't have any understanding on how to run a business...many red flags here.
I was super bullish, but now, I'm just disappointed.
The little things matter, and they just ignore customer feedback.
itsTazCharts
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@bobbybouchers, I believe these small airdrops is all to do with marketing. They obviously have some sort of agreement with Binance Marketplace to do drops there, maybe it's because DERC are planning on getting listed on Binance soon? Crypto.com listed YGG before Binance did, and this could be the same situation for DERC. I'm going to do an update right now, but every still looks good right now to me. Currently in accumulation zone after a big pump the last 2 months.
Daveorfenson
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Any updates?
itsTazCharts
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@Daveorfenson, Fractals have been eliminated... Hoping for upwards reaction here as this is an important level and acting as Point of Control. If we keep heading down from here though the next support is $2.20 which I have buy orders placed. The indicators I use are currently down but i'll do an update later today. I'll be also investigating on chain stuff to see if its large holders taking profits now hoping to gain advantage of BTCs upside in the next few weeks.
I was super bullish, but now, I'm just disappointed.
The little things matter, and they just ignore customer feedback.