I am selling MYX now as it’s falling, but the story before was interesting. The token had risen about 109% in 24 hours with trading volume exploding 300%, something you don’t see every day. But look what happened afterward – the price pulled back significantly and is now at $0.25, down 6.59% in the last 24 hours. It seems that pump couldn’t hold.

What caught attention at the time was the leverage involved. The Open Interest had surged 152% to nearly $62 million, then dropped back to $40 million. This shows it wasn’t just spot buyers; there were many traders with leveraged positions trying to profit from the volatility. The crowd was overly confident, and when leverage gets that high, any correction triggers a cascade of liquidations.

I also noticed that during the pump, tokens started flowing into exchanges – $2.87 million in net inflow. A classic sign of people taking profits at the top. When you see this happening while the price is still rising, it’s a warning that selling pressure could come strong.

The RSI had reached 69, close to overbought. With so much leverage supporting the move and now the decline happening, it’s clear that this kind of rally is fragile. The support at $0.196 might not hold if leverage continues to unwind. An interesting movement to watch, but it shows why being heavily leveraged in these quick surges is too risky.