/biz/ - Business & Finance

Hey lads. Gonna shill some MORPH here. First, some issues on recent events.

>Why is it dumping!!?

Because of the recent token burn. If a coin's CIRCULATING supply is burned, like Binance does with BNB, this will cause an immediate unavoidable price pump, because of supply and demand. Less supply = higher price. Because the price pump is a sure thing, it usually gets priced in far in advance.

However Morpheus burned unsold tokens from the ICO. These were coins that were not in circulation, so they don't directly affect the price. SOME coin burns of non-circulating coins can generate hype and pump the price that way, but other than that the price is completely unaffected.

Now when a bunch of brainlets buy the coin purely for the token burn and the price doesn't rise as the meaningless date approaches, they will panic sell. Anyone holding the coin who realizes this is happening will also sell, creating a chain reaction. The crescendo of a dump like this should be on the day of the coin burn, particularly when the burn is officially announced, and the recovery should begin immediately after that. (Look at the MORPH chart and guess when the token burn happened, kek.) This was all very predictable and feel free to use that knowledge next time another coin announces a burn of non-circulating tokens. ;)

TL,DR: MORPH will return to .0012 ETH, where it was hovering before the token burn announcement, in the next day or two. You can take that prediction to the bank.

More to come in later threads.

Sincerely,
STD