$DEGEN

$DEGEN reacted with a solid bounce from the base of the box ... but also got strongly rejected from the top of it right after ... in the following 12h candle. 

if this support is lost (candles closing below the box), then its all just thin air till 0.009ish (lower thin box)

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I still think there's strong support above 1 cent. That said, I also thought we'll never go below 0.027. 

I think we bounce stronger soon. The majority of grants have been sold and the farmers don't get that much allocation no more. People who do get the allocation and the tips believe in Degen and won't sell now.

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i agree with you, but we never know ... i also thought bottom was in.

some off-hand thoughts on degen sell pressure: 

looking over the website tokenomics, we've got three big distribution mechanisms that guarantee early selling; ecosystem grants (5.5B), liquidity mining (3.7B), and airdrop 2 (7.4B). In total, they account for 45% of all $DEGEN minted.

1/n

@wake had a really good thread of the price action (which he normally doesn't do) with stats on grants, drops and LP rewards. Excellent write-up there.

thanks for the share, did not see it before.

@wake.eth had a really good thread of the price action (which he normally doesn't do) with stats on grants, drops and LP rewards. Excellent write-up there. 

https://warpcast.com/wake/0x9256d555