Just a quick post on what I noticed regarding PUNDIX...which is a great project in my opinion. But please DYOR and
⚠️Do not take Financial advice from a Baby⚠️
When NPXS locked the gates on the 4th of April for the switch to PUNDIX the price had surged to $6.70.
When the floodgates were opened all the profit flowed out in a matter of minutes an the price dropped to $5.50 and ended up at $4.16 within one day. A drop of almost 40% on a solid project....what the fluf happened here...what went wrong?
(Please keep in mind that PUNDIX was released on all mayor exchanges at 12:00 the trading before 12:00 was on some minor exchanges)
First of all what happened.......?
NPXS did a token reduction turning 1000 NPXS tokens into 1 PUNDI X token. As a part of the Token reduction, burn and buyback.
So what went wrong?
Well I am not an expert, but I have been reading up on it here and there. And basically what I keep reading is that many people...and especially people new to crypto holding NPXS felt they were not informed.
I read the same message on several platforms that people all of a sudden found their PUNDIX wallet empty and called the project a SCAM!
They felt they were or were not provided any information on the change and it seems that the service team was not able to do sufficient damage control. This type of insufficient awareness and communication is killing for any project. Especially if the word SCAM is starting to stick in peoples minds.
Secondly, but a little less important (in my humble opinion) is the price increase by 1000X. This has a psychological effect on people, it makes the coin look expensive and their holdings look small and insignificant.
Thirdly, due to the first two people will FUD and flea like the good sheep they are.
The good of all this is bad press and FUD is us weirdo´s have a great opportunity to buy in to PUNDIX at a reasonable price, because it is a solid project with a great road-map and a very bright future.....if you would ask me.
Disclaimer
I do not have any connection with any company I am writing about. I am not being paid to write this article.
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