Hi @syedumair
Welcome within project.hope community :)
It's indeed interesting situation. Amazing pump. I think it's clearly related to upcoming airdrop which will take place on 28th (huobi exchange)
I've seen 2 similar airdrops done before (different crypto) and I've burned myself once.
there are many daily traders behind current volumes. And they are not interested with airdrop. They will be there as long as they will see demand. At some point demand will die down.
And then they will sell, knowing that right after airdrop price will tank. So I would expect that price will climb up until sometime tomorrow and then I would expect first dump
Right after airdrop - there won't be much buying pressure and selling pressure will be insane
so I would expect price to go up maximum till tomorrow. last 24h would be used by day traders to close their position. Am I making sense? Just wondering...
Cheers
Piotr
You are right.
But it's really great to see such a pump in price.
The price will obviously die down once the airdrop is takes place. It's still a win win situation for all of and I hope the price stays above $0.4 after the traders sell their bags.