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CryptoGlyn
Mar 29, 2024

So one week along after a large pump up to 2.5 cents dead twice on MEXC which equated to a 67% rise in price. As is oft the case a retrace is seen and that retrace came back to bubbling around the 2 cent line for a few days....

BBS token MEXC 1 hour chart. Screenshot 09:30 UTC 29/3/24BBS token MEXC 1 hour chart. Screenshot 09:30 UTC 29/3/24

.... but after some fierce swings, some very strange sudden buy wallsπŸ€”, along came a 'dormant address of 2+ years' shifted 1,000,000 tokens and subsequently dumped in a few hours couple of days ago😒. That spoiled the party and as can be seen dropped way below the 2 cent line that was 'sort of' holding. Yesterday a low of $0.015301 and thus a mere 2.2% increase on the pump start point of $0.014969 and also equates to a 97% retrace from hi of pump price. So 'Nearly' when I say Pump and Dump as it didn't quite make the 100% ...but yep it's a Pump and Dump nonetheless eh.πŸ‘

Today the price has hit a low of $0.016044 just an hour or so ago, but a few small buys saw it stop out at $0.016896 exactly a week later equating to a 12.9% rise in price over the week.

With inflows into MEXC rising by some 3.2 million BBS net in the past week (Some 40% increase in supply on exchange) then there could be more selling from here ....who knows? Only the big boys know, why, and what the real plan is eh.😎

DYOR, find your own conclusions, and happy trading all. 

Cheers, CryptoGlyn.πŸ¦†

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