Crypto Experiment — Disappointed? (PENDLE) Part IV
It was wild. It’s still wild. It keeps going down and yet I have doubled the number of coins I hold. Why would I even do that?
Part I — Recap
In the first part I was choosing the perfect coin for my experiment. I have chosen PENDLE.
If you want to know why and how you can experiment and have fun as well– read it:
An Experiment: How Much Money Can You Make By Investing in Crypto (PENDLE) PART I.
Part II — Recap
Ugh…a bad start to my experiment. The price dropped several percentages, regained almost 20 %, just to fall again, and yet the opportunity was forming. What I mean with that and how you can find a similar situation you can read it in:
Part III — Recap
I did it. I took my chance and bagged an almost 60% gain. I was a bit too late to sell, because I thought it had more potential. I was close to 100% — but hey no one is perfect.
Want to see the graph? Check it in: Crypto Trading Experiment — Gone Right (PENDLE) Part III
And what did I do with that money? Bought something in the real world? No way José. I bought more PENDLE.
And then I bought again, essentially doubling my initial investments. Let’s look at the chart and the price entry.
But first, where does the PENDLE stand?
PENDLE Today
The current Pendle price (30. 1. 22) is $0.264094 with a 24-hour trading volume of $773,401. Pendle is up 5.79% in the last 24 hours.
Commentary: both are very low, which I consider a good sign.
Only when the project has little initial interest and a history of massive money influxes there is the opportunity to make an ideal entry.
Market Cap Dropped
The current CoinMarketCap ranking is #731, with a live market cap of $25,203,235.
Like the rest of the market, the MC has seen its better days. Which is good. Because the chances of going higher are, well, higher, than going lower.
Chart
Warning
PENDLE emission rates are just too big for the current interest in the token. We can expect at least a year of going lower and lower and occasional pumps, until the demand will be higher than supply.
Unless new features are out for PENDLE (and there will be) we will have to adjust our buy prices lower every week or month.
I expect that once the market calms down, the PENDLE will make new features available and I will adjust the perfect buy zone again.
Disclaimer
1. I own PENDLE. I have bought and rebought PENDLE at $0,265 and $0,255 (last couple of days) and $0,3 (last month).
2. Oh, this is not financial advice. Anything said is my non-exhaustive personal interpretation of available data at the time, and should not be construed as financial advice. Crypto and DeFi are risky, and you stand the risk of losing all or some of the money you put in.