LOVELY INU CHART ANALYSIS [Detailed]
If you see the graph of the Lovely Inu chart price, there are many ups and downs but the price always gets pumps after a certain line which is called the support region.
If you put a deep view in the graph, the price never falls down below a support region which is a good sign for the Lovely Inu coin market and investor of it as there are more chances to price to pumps again.
If the price of the coin goes below that support region and closes a red candle, then this will be a matter of concern for their market price and investors and decreases the chances of pumping back.
If you see the Lovely Inu chart, the price is in a down phase for a few days. This phase is called the consolidation phase where the correction of price in the market goes on.
At this phase, the price of the crypto coins goes a bit down. So this is not time to get worried and sell your coin in panic. This is the time where investors need to have patience and hold on to their price.
The Crypto market is a long-term investment process and no one can get a good profit in a short time in all cases.
WHAT IS BURNING? DOES REALLY PRICE PUMP DURING BURNING?
Burning is the process in which they put their coin in such a server where nobody can access it nor buy or sell it. So that it is completely destroyed from the market.
Many people say burning helps to pump the price of the coin but it doesn’t pump the price of Lovely Inu coin after the burning even of Lovely Inu coin on 21st September 2021 where they burn their 5T coins. And they have 70T left.
The main reason behind this is that the holders who have maximum stocks are burning their coin and even selling their coin at the same time which leads to the dump of price.
If they burn their coin and money at the same time then burning can never help in pumping the price. For a good rise in price as seen in Lovely Inu chart, they have to hold on to their coin at the time of burning.
Even in the last burning event of Lovely Inu coins, the price didn’t pump as the investors expected. The reason for it was the selling of coins at the time of burning.
The upcoming burning event is on 1st October 2021 and 11th October 2021.
Disclaimer: I am not a registered financial advisor, The content I create should not be considered financial advice, and is for education purposes only
WHY DID THE OWNER OF LOVELY INU COIN REMOVE LIQUIDITY FROM CRYPTO EXCHANGE PLATFORMS?
The main reason for the removing of liquidity from the crypto exchange is that for the development of token. The development of tokens is required to raise funds for their listing on crypto exchange platforms like Coingecko, CoinMarketCap and at last in Binance.
This shows that the owner of Lovely Inu coin putting their efforts to bring their main project for the development and pumping of price. But they don’t want to disclose their planning in the market.
But the adverse effect of removing liquidity is that people cant trade at that time and the volume of coins doesn’t increase. So automatically the price of the coin doesn’t raise. This leads to panic in the investor’s mind and resulting in the selling of coins and a low rate of holders.
LOVELY INU COIN UPDATE AFTER BURNING
Lovely Inu Finance official Twitter account @Lovely_finance tweeted about the burning event held on 21st October 2021 and stated about the upcoming burning dates that are on 1st and 10th of October 2021.
And now they have a 70 trillion total supply and uploaded a greeting video.
According to BscScan official site, also states that they have 7T coins. And the stock of the owner decreases to approx 39% from 43%. He exhausted 4% of its coins. They have a slight increase in holders. The current number of holders is 20790.
According to Coincheckup official site, the degrowth of Lovely Inu coin before 24 hours is approx 27% and after the burning event, the degrowth of Lovely Inu coin reduces to 1% before 1 hour. Even we can see growth in volume which is approx $335 k.
This is a positive sign for the pumping of price and kills of zero.