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Xanrox
Jan 6, 2024 2:08 PM

YFII is pumping, is 350% possible in the short-term? Long

Description

YFII is pumping; this is pretty clear. But will this pump continue? I think so! Why? Because we have this parallel channel on the weekly chart, and the price is currently near its support line. From a fundamental perspective, this coin is really strong, and whales are buying. It is a huge deal for the banks and big corporations. The ABC correction is complete, which is pretty clear. This is a great bullish setup. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!

DFI.MONEY (YFII) originated as a hard fork of yearn.finance, the aggregator for DeFi returns created by Andre Cronje.

Cronje left the original incarnation of yearn.finance, iEarn, in early 2020, only to return to continue its development, whereupon its popularity grew considerably as DeFi became more mainstream.

In July 2020, mining and farming of yearn.finance’s YFI token ended, and a proposal to protect liquidity provision from whales earned 80% support among protocol participants. However, it was not adopted due to not meeting yearn.finance’s requisite 33% quorum requirement.

As a result, a group of users opted to hard fork the protocol to create DFI.MONEY, with its own token, YFII.

The hard fork implemented the proposal, known as YIP-8, which makes YFII rewards decrease each week, following a pattern popularized by Bitcoin (BTC). Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!

Comment

YFII is going up strongly as expected. Do not sell, and keep holding the position.

Trade closed: target reached

+173% profit, then a big crash happened. New analysis soon.
Comments
sumairk
risky coin to trade, random targets sometimes.
Xanrox
@sumairk, Volatility is high, which is good..
Xanrox
Are you buying?
sumairk
@Xanrox, i know its going to 4k or 5k sooner, but trades are risky and knock you off by targets and volatility sooner then u expected before you know it could blow off.
Xanrox
@sumairk, Hmm, that is really possible, we will see
sumairk
it is delisted or blacklisted now... wonder which exchange would trade it?
gleb2
Well, you're a cool dude, trading in hindsight
Jack_Bhai
Manipulation coin
Xanrox
@Jack_Bhai, Why you think so?
Jack_Bhai
@Xanrox it's community driven coin. No fundamentals nothing. Soon all exchanges will delist it same like binance did
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