a graphic designer and educator that is seeking to learn more about this whimsical web3 space...always staying curious opened lots of doors for me, so….
At the beginning of 2022, I entered the space of #Web3 and #Nfts. After some weeks I started to understand how this whimsical world is organized and got totally fascinated by the land of opportunities it preserves yet still in a very young stage.
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@Cryptolution your entire thesis builds on one assumption: that these wallets are controlled by Binance. How do you verify that? They could just as well be RS OGs, whales with multi-wallet setups, or smart-money traders reacting to the same events. None of that requires a Binance connection…
@LeonidasNFT@Quicknode Writing as a $DOG holder and supporter. Why label this as “just launched”? Why the hype framing? It takes 5 min of research to understand that this was launched in May 2024. Obviously QuickNode is doing aggressive re-promotion because Hiro is deprecating their Runes support.
@Cryptolution 0.03% of the 100B supply = 30M DOG ≈ $22k. At that size, could just be one holder shifting balances between their own wallets. Binance does $40B+ daily across spot and futures. $22k doesn't register as a strategic position at that scale, secret or not.
@Cryptolution I don’t want to be too pessimistic about this. I see plenty of reasons to be bullish on DOG. But please let go of the Binance narrative. It’s really really thin on the fact side. I did the math, and….
@Cryptolution That actually clarifies a lot. And given the recent wallet rotation (#11 → #48) plus the Bitget concentration…does this typically lead somewhere specific in your experience, e.g. a pump setup, OTC deal, or could it just as well fizzle into nothing?
@Cryptolution Should add: I’ve been in $DOG since the airdrop and want to keep being. That’s exactly why I’m asking …the MM framing doesn’t sit right with the fair launch story with no paid MMs and so on. Trying to figure out which part of the picture I’m missing.
@Cryptolution Thanks! Genuinely curious though…#DOG has committed to organic growth. So if these wallets really are MMs, either someone in the ecosystem is paying them off the record, or they’re independent prop firms making a market on their own. Curious which interpretation you lean towards
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@bitmaxdog@Gate It’s not that unnatural. Fast repricing followed by range-bound absorption is pretty normal in this market phase. With thinner order books it can look a bit sus, thats true. But hey, boring accumulation phases are usually structurally bullish. 🚀