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Extremely Risky, and Highly Inadviseable

Date:

Has the once mighty TITAN found a bottom?

PC: From https://www.imdb.com/title/tt2560140/

From the chart it looks a tad unreal. Down from $63.9256 to something with seven zeros after the decimal.

Sooo, you’re sayin’ there’s a chance…?

I was serious about getting back in.

I won’t say at what price, as I don’t want to unnecessarily influence your buying decisions, but truth to tell I will get back in.

Reading their explanation, I see that there was something of, not exactly an exploit, but unintended consequences in how the tokenomics were designed:

“…This caused a negative feedback loop, as more TITAN was created (as a result of IRON redemptions) and the price kept going down.” ~ https://ironfinance.medium.com/iron-finance-post-mortem-17-june-2021-6a4e9ccf23f5

Billions more TITAN were created from IRON redemptions, driving the price even farther down than just the selling would indicate.

But, what happens once the selling stops?

From the chart above we can see that the price chart has dead-lined. DOA, flatlined, checked out, breathed its last, bit the dust…

Or did it?

Most folks using the standard Polygon charting tools see only a flatline. But if you happen to use slingshot, and switch to their live view:

Do I detect a pulse?

The patient seems to still be alive.

This is the realm of the bottom-feeders, the dead-cat-bouncers, the undertakers.

“Bring out your dead!”

Arbitragers, looking for an advantage.

One thing we can be sure of, the risk has been shaken out. Everyone who could sell did sell. And right now the token is in the hands of the traders.

The token is not frozen.

By using sushiswap with the token address appended to the url you can make the token appear: https://app.sushi.com/swap?inputCurrency=0xaAa5B9e6c589642f98a1cDA99B9D024B8407285A

Remember, this is a token shilled by billionaire Mark Cuban, a guy who can afford to vet anything involving anything, and I bet anything involving his money he vets hard.

But we can’t see what we can’t see. Even battle-hardened devs were astounded by Titan hurtling down from the heavens from something that was a feature, not a bug.

There’s a funny reddit calling it the Cuban Missile Crisis with the following image:

Harhar

How did he get it so wrong? How did I get it so wrong?

Luckily, keeping my bets relatively small saved the day for me. Unlike some of my trader friends losing thousands by betting big. Seemed awesome, the farm killer, the chart that only went up. I was actually leaving money in the farm overnight, something I rarely do, but I was so far ahead, and the news seemed overwhelmingly positive.

And now I am on the hunt again. How do I make up for lost money, for lost time? Could the monster that stole my money actually be the solution?

$100 will buy you a cool $1.5B in a place few are looking at.

The dev team is also looking for a solution, and unless this token is dismantled somehow it exists in a shadowy world of zero purpose. Pure trading: it’s value purely determined by who’s buying and who’s selling.

I had an opportunity like this in the meme coins. I saw Elon’s appearance on SNL to be a positive — possibly for DOGE, but spectacularly for some of the tiny doggy meme coins. So, I bought some SHIB, and watched my $1,000 twenty-five X in under a day.

Even though the situations are extremely different, I sense something similar going on here.

My life has been a series of pattern recognition, not only sensing, but taking action on patterns I seemed to see that other people don’t. I would say to SEO clients, “I plan to show you something that is invisible to you. It’s invisible because you don’t look in the places I look.”

There’s a pattern emerging where the sellers have exhausted and the arbitrageurs have entered, driving up the price. From the explanation of the Iron Finance team the whales instigated the Fall of Titan.

Could the whales engineer its revival?

Attack on Titan

Update June 17, 2021, 7:19pm: Yeah, Sushiswap seems to not recognize the TITAN address anymore. My devious dreams of acquiring TITAN for a pittance have been thwarted! (Likely for the best, le sigh)

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://medium.com/cryptozoa/extremely-risky-and-definitely-not-adviseable-40e58f3f1de8?source=rss——-8—————–cryptocurrency

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