- Oct 2, 2022
- 1,584
- 2,870
Been doing a bit of digging and it's not looking very good.
It seems like top 10 holders hold like 80% or more of this thing. Not a good sign.
I highly doubt a rug setup but I can easily see wealth transferring from individuals getting in to the top holders cashing out.
Do not get too euphoric. That's how people get burnt.
It's a meme after all with 0 utility.
I'd cash out after a few days or couple weeks on a 2x, 3x, 4x return.
It seems like top 10 holders hold like 80% or more of this thing. Not a good sign.
I highly doubt a rug setup but I can easily see wealth transferring from individuals getting in to the top holders cashing out.
Do not get too euphoric. That's how people get burnt.
It's a meme after all with 0 utility.
I'd cash out after a few days or couple weeks on a 2x, 3x, 4x return.