Brothers, in the past couple of days, the hottest coin in the crypto world has been none other than ORDI. Honestly, this coin, which everyone used to mock as "Audi," has been silent for too long, dropping so hard that even its mother wouldn't recognize it. Just when many people had forgotten about it, it suddenly made a move—sometimes doubling in a single day, even surging 200% violently, making everyone exclaim: "Whoa, it’s back! Is the gang from back then coming back again?"

Let's first see how crazy things have been these days. On April 16th, ORDI, like it had been injected with chicken blood, shot straight up from around $2.70 at the bottom to over $9.60 at the top, with a daily fluctuation of over 200%. And this was just the beginning. Even more shocking, the shorts were stunned because it was heading straight for a harvest, with over 300 heavily shorted traders, averaging an opening price of only $3.86, being blown out within a day, with unrealized losses doubling, nearly $2.5 million in short positions being turned into fuel. As the old saying in crypto goes, “Market manipulation is the best narrative,” and this move directly crushed the shorts, blood flowing like a river.

After everyone calmed down, they started pondering: which big shot made such a ruthless move? How come this trading tactic looks so familiar?

If you’re an old trader who experienced the end of 2023, seeing ORDI’s intraday chart probably makes your DNA twitch. Back then, BRC-20 just started to get popular, and ORDI, as the first inscription token to try it out, was rising irrationally when everyone thought it was unbelievable. That rally wasn’t something retail investors could buy into; it was a brutal, no-callback “Shenzhen-style” pump that didn’t give any chance to catch the bottom.

There’s a legend circulating in the circle about the “Shenzhen gang.” These traders don’t operate like small-time speculators; they prefer joint operations with extremely fierce tactics. Usually low-profile, once they decide to pump, it’s like “a dragon emerging from the sea, soaring into the sky.” The key is, their routines are especially dirty—if you don’t sell, they won’t pump; if you just sold, they’ll immediately push to the daily limit, breaking your legs. Looking back at ORDI’s recent moves, ignoring technical indicators, straight up in a 90-degree line, if you tell me there’s no top-tier capital or the “Shenzhen crew” pulling the strings, I wouldn’t believe it.

Besides speculating on the trading tactics, at this critical moment of a pump, the timing, environment, and people’s sentiment are all aligned. On one hand, Bitcoin has recently stabilized above $75,000, and as long as the overall market doesn’t collapse, altcoins will have a stage to perform. On the other hand, there are rumors across the internet that mid-May could see big moves in the BRC-20 ecosystem, with inscription activity on Bitcoin surging, daily transactions hitting over 615k. Plus, ORDI, which had fallen from over $90 to just $2-3, with a decline of over 98%, has long been free of trapped sellers above, and the bottom holdings have been cleaned out by those with intent. At this point, using a small amount of money to ignite the market, with such a light float, a quick surge is easy. This extreme oversold rebound is exactly the kind of chaos speculators love.

But at this point, the most pressing question is: with such a rise, can the previous peak of over $90 or even nearly $100 be reached again?

Honestly, the ideal is beautiful, but reality might be more brutal than we think. We must face a harsh truth: ORDI is no longer the pure “new concept” it once was. After hitting a historical high of $96 in March 2024, this coin has endured a long two-year bear market, with mountains of trapped positions above. Many people bought in at $30 to $50, and they’ve long been numb from the decline. Even if the price doubles or triples, it’s still far from their cost basis, so the selling pressure hasn’t truly been released.

This recent surge looks more like a revenge rally after a deep dip, driven by news and emotional outbursts. Its essence is really a “dead cat bounce” combined with a short squeeze. Ultimately, this rally’s strength depends on the shorts bleeding out. If no new shorts enter at high levels or if the exchanges suspend futures trading, this explosive momentum will be hard to sustain. The big players aim for quick profits by chasing high, not genuinely pushing the price back to help everyone recover. After all, market manipulation requires real money, and in this liquidity-scarce environment, no big player would be foolish enough to risk billions in trapped positions just to do charity for retail traders.

So, this spectacle looks exciting, but whether it can return to the previous highs is probably just a beautiful illusion. The market is never short of overnight riches myths, but more often it’s a graveyard of disasters. Let’s see how the “Shenzhen gang” operators perform next. We’ll just sit back, grab some popcorn, and watch the show—don’t get too caught up. $ORDI ‌#山寨币强势反弹