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Yesterday, I lost ten games in a row, and then I saw that $ESPORTS has dropped even more than my record—24 hours straight down 66%, from a high of 0.23 to just 0.067, just like my mouse pad, flattened. This thing has a 24-hour trading volume of $380 million, indicating it's not dead; someone is fleeing in a panic, running like they were sold out by their teammates.
To put it in plain language you understand: $ESPORTS is just an "esports concept coin," driven by hype around tournaments. It dropped from 0.23 to 0.06 within 24 hours—a 66% decline—meaning your 100 bucks now only has 34. Although the trading volume is huge, this is usually panic selling, not a bottoming signal. Don’t listen to people shouting “buy the dip,” because entering now is likely catching a falling knife, as the bottom hasn't been confirmed and there could still be a deep drop below.
Here's a key point for your trading: don’t rush in now. If you want to play, wait until it rebounds to the 0.08-0.1 range before building a position, and set your stop-loss below 0.05—at least you won’t lose everything overnight. Take profits around 0.15-0.18, but don’t be greedy; such rebounds usually only have 30%-50% upside. Keep your position size within 5%, and if you lose, just consider it tuition paid for watching the game.
My opinion? I’m that old hand in the group shouting “don’t catch a falling knife.” Until I see a clear bottom with volume support, I won’t be jumping in. If you believe in the esports track, wait for a few days of sideways consolidation with decreasing volume before entering, don’t get blinded by the crash.
If you don’t understand, ask in the comments—I’ll reply one by one.