$SUI WARNING: pump then dump

Updated

is experiencing a significant pump due to BlackRock's announcement of a specific trust fund. However, on August 3rd (and on the 3rd of every month until January 2025), will undergo a large token unlock for their Series B and C investors.

The concern is that there was no immediate impact from this token unlock, suggesting that the VCs may be waiting for retail investors to FOMO into following the BlackRock announcement before they dump their coins.

Once the FOMO cools down, it's likely that the VCs will sell, which could cause the price to drop.

is currently in a downtrend, forming a falling wedge pattern due to the monthly token unlocks that began in July 2024. The upcoming inflation will be difficult for the market to absorb. The token unlocks will slow down in January 2025.

DYOR

Note

I mean the Grayscale fund not Blackrock. Sorry for error

Note

has pumped more than I expected. However, the idea remains the same. It broke the descending wedge pattern. Now, either the VCs decide not to dump yet, and I am wrong, in which case will enter an ascending pattern until they finally exit their liquidity. Or, as I forecasted, it will reintegrate into its pattern with a dump. Let's see what the market decides.

Note

re-integrating its descending wedge. It seems that this idea was accurate.

Note

Well well, didn't dumped so much, it actually made the decending resistance a support! That is an interesting development. Have we touched the bottom?

Trade closed: target reached

This previous idea played out well, with fully recovering and reaching a new all-time high. It's time to close this idea.

hit $0.50, so if you bought within the buy zone (green box) as I suggested, you’re up over 200% in profit. I’ll post another idea when it becomes relevant.

I hope you enjoyed the ride and bought in when advised!

CryptoNikkoid

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