It’s a very turbulent time to be an investor in CinniCoin these days. Over the past 24 hours, the downward trend on exchanges has continued. A lot of people still see it as a correction, but let’s be honest, we all know what is really going on here.
Sure, some of the sell orders could be from people who bought in very very cheap and only now noticed how much the value has gone up. I’m pretty sure there is at least 1 such person out there, and he sold his whole 2 Bitcoin’s worth of CINNI.
Those other hundreds of Bitcoin’s worth of CinniCoin that are being dumped, on the other hand, surely have a far different reason. It could be that someone is just selling to himself in order to drive the price down, and catch any panic sells while doing so.
Or it could be that a group of people really want to keep the price down, because they believe CinniCoin should not be worth more than their coin. I’m not saying this is the case, but it still remains a possibility.
Regardless of what the reason is, this is a textbook example of market manipulation at its best, the likes of which we haven’t seen since DogeCoin spiked up to over 300 Satoshi and then tumbled down very, very hard.
Besides, CinniCoin still has over 600 Bitcoin trading volume over the past 24 hours, so there is no reason to worry if you are holding CINNI at this point. There are only so many coins that can be sold anyway. And most of those have been sold.
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