I was replying to a PNK post which got archived. It might be interesting enough stats/extrapolation to be worth its own thread though. Here goes.
>2000 holders, from a total of 7500, bought since it first hit 17c >Of that 'original 5500', about 1/3rd are either exchange addresses or sockpuppet wallets of larger whales splitting up their assets. >The price is so low now on the ETH pair that even people who bought PNK at **4 cents** would have been better off unironically just holding ETH. >So almost 50% of people who bought PNK have been absolutely, unequivocally justed. >It shows no sign of stopping the downtrend, and we could even see the point where even people who bought in at 2-3 cents might lose money. >We're so early and there are so few holders.There has been a net loss of only 20 holders (ATH holders was 7299, current is 7268) >Whales have not been converting to ETH, but USDC. ATH MC was 90m, current MC is 40m >aka, whales dominate PNK right now and even just hedging 50% of their stacks to USDC results in the absolutely mindboggling dump we have seen >regardless, they're hedging against the market crashing, not PNK specifically. Most are still holding 1/2 to 1/3rd of their stacks, and few if any other tokens, so it can be assumed they're bullish on PNK >if they weren't bullish on PNK, they would have swapped for ETH >This is $50m USDC waiting to go back into PNK after a market dump. So, if ETH goes to $250 again, then PNK will presumably be 4c again, and whales will dump 50m USDC back into PNK. >Presumably, a pump of such huge proportions will trigger mass fomo. PNK would be hitting new ATHs on the ETH chart without fomo, but if you factor in 20% of tokens being bought by small fry such as Zig Forums, then that's an MC of at least 150m while ETH tanks. TL:DR wait for ETH to dip under $300, then buy as much PNK as you can get your hands on, whales will pump us to the moon and $10 is fud. If ETH dips this month, PNK will be 30c in October.
it is, though. and all the fud is pretty funny desu. however, im actually convinced you ppl are fudding so you can fill up your bags even more. this coin is here to stay
Daniel Bennett
I unironically think this is a buy signal Great post desu
>the only token in the entire space which is unironically needed okay
thanks. I've been following etherscan and whale wallets autistically and while this dump has hurt, I'm very bullish on PNK over the next year. Not going to sell a single pinkie until $10, even if it takes a year or two more there will be no asset with better returns, even LINK.
>giving you my whale wallets nah, they'll just split their coins up further. You can find some for yourself though, they clearly all follow each other. Just look through the top 20 holders, then look at any wallets they sent a few million PNK to ~6 months ago. These are usually their swinging/trading wallets. Often they'll have 3-4. Once one or two start cashing out to USDC in anticipation of a marketwide dump, they all do, and we see the carnage we're seeing now.
>Not going to sell a single pinkie until $10, even if it takes a year or two more there will be no asset with better returns, even LINK. completely delusional. I have most of my portfolio in other shit , i only hold like 0.5% of my portfolio in PNK because I do like the pajeet memes. However I am going to sell at least 100k of my pnk when it hits 1$ and so should everyone else.
I have a 50k stack and have been debating trading out some STA or SNX to get up to 100k PNK.
What do you think?
Michael Ward
>STA listen I doubt PNK just as much as the next user, its a retarded project that will most likely never take off since the project is too out of scope and they probably never land a good platform to work from. However their shit actually does have a basis and it MIGHT work out the chance is low I'd say
Blake Price
STA is a shitcoin. Keep your SNX.
Just make sure you replenish your pink wojak folder for when it hits $10.
Aaron Watson
>700k pnk, not even 2-3m >not swinging >didn't take profits on the way up and buy back in on the way down >doesn't currently have at least 50% of his portfolio in USDC keep looking
I unironically accumulated another 100k. The recent price action has been drastic, but I’m not selling under 500m mcap. If you sell now, get ready to necc in half a year.
Grayson Hernandez
>You can find some for yourself though, they clearly all follow each other. Just look through the top 20 holders, then look at any wallets they sent a few million PNK to ~6 months ago. These are usually their swinging/trading wallets. Often they'll have 3-4. Once one or two start cashing out to USDC in anticipation of a marketwide dump, they all do, and we see the carnage we're seeing now.
Are you saying $1k or $1. Because $1k is wildly unrealistic and $1 is showing no understanding of what PNK is.
>got trips >deleted his post Fuck you satan. Anyway forgot MC, think about the position. Absolute vaporware makes it to 500m market cap. PNK could easily be a top 10 coin in a year or two, and if BTC is 20k, #10 is an MC of $6 billion, so assuming 750k circulating, that's $8 per pnk. If heaps of cases come through and staking/arbitrating becomes a very profitable exercise, where keeping your pnk makes you more ETH than selling does, we could go even higher.
Nolan Cooper
Why is $4 the meme price for a token with only 522m circulating supply? If you really think this is the next LINK you need to target like, $600 EOY as the meme price
Jaxson Perry
did they fix these? 1 high cost of gas to vote 2 votes not anonymous
both seemed very easily solvable but I never heard anything
Comes from the prophet 4xmoongg. 1k rupees EOY sir,,,
1. No, but they're working on integrating xdai to address this. That, plus 2.0, should solve the problem. 2. No, because it requires 2 transactions, so doubles the gas fees and makes arbitrating unprofitable. Gas fees have to be lower before this can be addressed.
Then just look at recent etherscan transactions for anyone swapping large amounts of PNK to USDC.
>Because $1k is wildly unrealistic and $1 is showing no understanding of what PNK is. 1k$ linkies watch have fun watching from the pink sidelines my friend.
Jaxson Rodriguez
>only 522m circulating supply would make it a top 15 coin dumbass
