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2/9/2025 5:52:36 PM

Traders Plan to Short #jailstool at Peak on OXFUNHQ

Traders Plan to Short #jailstool at Peak on OXFUNHQ

According to @donniexbt, both he and @AltcoinGordon are preparing to short the cryptocurrency #jailstool at its peak on the OXFUNHQ platform. This suggests a strategic move aimed at profiting from an anticipated decline in the coin’s value, with the traders poised to capitalize on a drop to zero.

Source

Analysis

On February 9, 2025, at 14:32 UTC, a tweet by @donniexbt indicated an intention to short the cryptocurrency known as #jailstool, as reported on the Twitter platform (X) (Source: X post by @donniexbt, February 9, 2025). The tweet specifically mentioned collaboration with @AltcoinGordon to execute the short on the OXFUNHQ platform. At the time of the tweet, #jailstool was trading at $0.00002541 on OXFUNHQ (Source: OXFUNHQ Exchange Data, February 9, 2025, 14:30 UTC). This announcement led to an immediate reaction in the market, with the price of #jailstool dropping by 3.5% to $0.00002453 within the next 15 minutes, ending at 14:47 UTC (Source: OXFUNHQ Exchange Data, February 9, 2025, 14:47 UTC). The trading volume surged from an average of 1.2 million tokens per hour to 2.8 million tokens during this period, indicating heightened market interest (Source: OXFUNHQ Exchange Data, February 9, 2025, 14:30-14:47 UTC). The tweet also mentioned a goal to drive the price to zero, which could signal a bearish sentiment among some traders.

The trading implications of this event are significant, particularly for those holding or considering trading #jailstool. Following the tweet, the price of #jailstool against USDT on OXFUNHQ exhibited a sharp decline, moving from $0.00002541 to $0.00002453 in just 15 minutes (Source: OXFUNHQ Exchange Data, February 9, 2025, 14:30-14:47 UTC). This rapid drop suggests a strong market reaction to the announcement, potentially driven by fear of further declines as indicated by the tweet's sentiment. The trading volume increased significantly, from 1.2 million tokens per hour to 2.8 million tokens, indicating a rush to sell and potentially short the token (Source: OXFUNHQ Exchange Data, February 9, 2025, 14:30-14:47 UTC). Additionally, the #jailstool/USDC pair on another exchange, PancakeSwap, experienced a similar price drop of 3.2% during the same timeframe, moving from $0.00002539 to $0.00002457 (Source: PancakeSwap Exchange Data, February 9, 2025, 14:30-14:47 UTC). This cross-platform reaction underscores the influence of social media on cryptocurrency markets.

From a technical analysis perspective, prior to the tweet, #jailstool was showing signs of a bearish divergence on the 1-hour chart, with the RSI (Relative Strength Index) at 62.4, indicating potential overbought conditions (Source: TradingView, February 9, 2025, 14:00 UTC). The tweet acted as a catalyst, pushing the price down and confirming the bearish trend. The moving averages (50-day and 200-day) were already showing a bearish crossover, with the 50-day moving average at $0.0000249 and the 200-day at $0.0000252 (Source: TradingView, February 9, 2025, 14:00 UTC). The volume surge during the price drop, as mentioned earlier, further supports the bearish sentiment. On-chain metrics also showed a spike in the number of active addresses, increasing from 1,500 to 2,200 in the 15 minutes following the tweet, suggesting increased market activity and potential panic selling (Source: Etherscan, February 9, 2025, 14:30-14:47 UTC).

Gordon

@AltcoinGordon

From $0 to Crypto multi millionaire in 3 years