$NOM — Short Setup 📉🔥
Took a short around 0.0027 with size (200,000). This project is pushing the narrative of a perpetual DEX (on-chain contract aggregator), but most of the recent hype came from the early March whitepaper release 📄✨ — and that momentum is already starting to fade.
Tokenomics don’t look great either ⚠️ Total supply sits at 7.5B, with only 2.9B circulating — meaning there are still 4.6B tokens waiting to be unlocked. That’s a lot of potential sell pressure ahead 💣
FDV is sitting at about 2.6x the current market cap, which suggests the valuation is stretched. On top of that, the negative funding rate is quite high — signaling a crowded short, but also showing overall bearish sentiment in the market 📊
Once the hype cools off, market makers are likely to take advantage and push this lower. Entered at market, expecting downside continuation ⬇️📉
#Crypto #ShortSelling #Altcoins #TradingSetup #BearishTrend
