Dego Finance (DEGO) Suffer Near 50% Flash Crash Amid Whale Sell-Offs and DeFi Market Fragility
Dego Finance own token, DEGO, sharply crash for price, drop almost 49% inside one hour — na record drop like CoinMarketCap talk. This breakdown wipe away months of gains and make over $650,000 liquidation for long positions, na the biggest kain for DEGO before now. Wetin cause the sell-off na big token transfer enter exchange by big holders (’whales’), small liquidity, trading trigger wey dey automatic, and bad market feeling. This one come happen when Dego Finance talk say dem go buy USD1, stablecoin for BNB Chain, as liquidity reserve. Some people for community talk say e fit mean say dem fit do rug pull; this make people fear and begin sell anyhow. Technical signs turn to bearish bad: DEGO fall below key moving averages, both RSI and MACD talk say momentum dey go down. No specific bad news cause the first crash but the thing follow the pattern wey other DeFi tokens like Mantra (OM) get. The sharp fall make holders fear wella, show say volatile altcoins get beta risk, especially the ones wey small for market value and get few owners. For crypto traders, this event show say make dem get strong risk management, diversify portfolio well, and use stop-loss strategies, especially for DeFi and NFT tokens. The matter also bring wider concern about trust and weakness for DeFi market.
Bearish
Di sudden and severe crash for DEGO—wey come from big whale dem sell plenty, worries about possible rug pulls, plus bearish technical signals—dem show say people no get better confidence and market don dey shake well. The quick liquidate of long positions and panik selling everywhere don make investors lose belief for DEGO and also other DeFi-related altcoins wey get similar pattern. No good catalyst plus technical failure and market wahala mean say short term risk still dey down. For history, this kind flash crash fit cause long time low price, especially for small cap and tokens wey no get plenty market. To recover for long term, dem need confidence back and better market condition.