Plasma (XPL)

$XPL up 14% but I'm still not touching this shitcoin. It trades schizo on lower time frames https://t.co/7OoFwTsV7n

$XPL is showing some life lately. It has started to hold above that key support level. On the high time frame, it is still downtrending, so ideally I would wait for a market structure break before considering longs! https://t.co/Mt60WFvkmN

There's clearly not much going on with $XPL right now, but at the same time sellers do seem exhausted. I think that this is gonna pump some day. With a little bit of green it can easily pick up the stablecoin infrastructure narrative again and get people excited. https://t.co/JhwaoAy5Mg

There are some charts that always look pretty decent but they trade like absolute trash. Whipsaw price action, no consistent trend, etc. $XPL and $MON are 2 such coins that I despise trading actively https://t.co/9YTjt6wzXd

Each day the odds increase that $XPL will make a new low I think together with $ICP it has been the worst launch in history, not even because of the product but because they have only fallen since they came out. This does not change that I expect a pullback, which will happen sooner or later.

🔻92.94% since tweet never fade selling the 300x PNL screenshot on CT 😭 https://t.co/bTNgDfhLNo

$XPL is still breaking down from that bearish flag. In a downtrend like this, those patterns are extremely effective as you have seen. https://t.co/HA8osMaxnV https://t.co/hPdB7FzwZn

You ever wonder why tokens pretty much go straight down right when they list? It's not just because there is 0 demand for the token or project- it's more because the team is often selling their ecosystem tokens onto the market to unsuspecting retail investors. They do this to fill their treasury and secure runway. Many of these projects have gigantic treasuries with 8-9 figures. And this is the only way they can really make money because 99.9% of crypto projects aren't cash positive/have any income. They raise tons of $ from VCs and then they dump more of their vapor tokens onto the market to build a treasury....and at the end of the day, they won't build anything worthwhile and continue paying themselves out from said treasury. There is actually very little reason to buy these tokens on TGE if it's a big infrastructure project. You might get 1 pump out of it early but anything with a sustained pump comes from either crime (from some rogue MMs) or something wild like an Upbit listing. Stay away most of the time.