#PIEVERSE This wave of pump is too fierce, but it might be a dangerous signal now.

In just one day, it soared directly from 0.1337 to 0.3680, almost tripling. Such a vertical pump is often driven by emotions rather than fundamental support. On-chain data shows that there is a large amount of profit-taking in the range of 0.30 to 0.36, and a dump could happen at any time.
The technical outlook is even less optimistic - the price has already reached the upper limit of the Bollinger Bands and is heavily overbought. What’s worse, the high point of 0.3680 has formed a bearish engulfing pattern, which usually indicates a short-term peak. Although the 24-hour trading volume has reached $937 million, combined with a 179% increase, there is obviously a divergence between volume and price. The depth chart shows that there is a dense accumulation of sell orders above 0.32, and the momentum for a breakout upwards is clearly insufficient.
To be honest, for currencies that experience violent pumps like this, historical data shows that the retracement often exceeds 70%. It is not a good time to buy the dip; a more reasonable strategy is to wait for key support levels to break and then short with a light position. Once it breaks important support, the probability of a rapid decline is very high.
After a surge, it is often followed by a plunge, which is the norm in the crypto world. At the current position of #山寨币周期开启？ , the risks clearly outweigh the opportunities.