#加密生态动态追踪 $PIPPINThere are quite a few people who have fallen into the trap of this coin. I think it’s necessary to explain some of the ins and outs.

Many people are obsessed with the public spot trading data of smart money, thinking they have grasped the true market. Little do they know, this is just the beginning of being harvested. The visible account movements are only surface-level. The real mechanisms are hidden in the unseen parts. The total contract volume across the entire network is about $200 million, but that’s only the tip of the iceberg.

The tactics of the manipulators are varied. They activate and deactivate spot accounts to create illusions, turning visible accounts into invisible ones. When retail investors see smart money retreating, they panic and assume that the main players are fleeing. No one knows how many people have been liquidated like this, and in the end, they don’t even understand what just happened.

Trying to short this coin to make it drop quickly? Forget it. On-chain spot holdings already exceed 1 billion RMB, and the average cost basis for the manipulators is around 0.06. Even if they make a lot of profit on the futures side, the spot holdings are still there. As long as they haven’t fully liquidated their spot positions, the manipulators are unlikely to really run away. What does this mean? The price won’t drop to a few yuan unless they’re forced to clear their positions.

But don’t expect this coin to go straight up forever. During this process, the manipulators will repeatedly harvest the hopes of both longs and shorts. They hold onto the coin tightly, and the logic behind price fluctuations becomes mysticism—completely dependent on the mood of the controlling parties. Everyone, remember this well, and don’t keep getting confused and sliced again and again like a bunch of green onions.