“Liquidity was structured so the bulk of it sat just under market price, allowing the pool to absorb sells with minimal impact,” explained Aswath Balakrishnan, vice president of research at Delphi Digital, in a Telegram message. “There wasn’t enough liquidity to absorb all the ICHI liquidations, causing the price to cascade.”
Dogecoin, Floki, Dogwifhat Start to Surge as GameStop Jumps 19% in Pre-Market
Dog-themed tokens tend to move after rallies in video game retailer Gamestop, a so-called “meme stock.” Source link