Today once again experienced the familiar pattern—pumped for 4 days and then crashed in one day. What does this high-level decline indicate? Extremely high turnover rate but no support from backing institutions, just like hollowing out the foundation and building a house on top, which will eventually collapse.

The most outrageous thing about the top ten coins on the gainers list is that they have no bottom structure at all. No price suppression to absorb buy orders, no thorough accumulation, they are completely inflated. From a technical perspective, these coins can be shorted in the long term, and a crash is inevitable.

Compared to coins with genuine institutional involvement—those that experienced over 70% decline in a single day, but because their foundations are solid enough, they can still fight back against the entire network’s quantitative trading. The reason why those violent surges can be sustained is that they have endured enough hardship early on and accumulated enough chips.

The current problem with the gainers list can be summarized as: this is a typical high-level dammed lake structure, with chips piled up at high levels. Every rally has trapped investors wanting to exit, but no one is willing to actively take over the position to push higher—this is a dead cycle. When they can no longer hold on, it will fall apart rapidly. Without a savior appearing, these coins will only be a game of predatory capital.