never thought this day would come but i'm going short
$VVV at $34 as one of the earliest
$VVV bulls (got in at $2, watching chart + fundamentals daily for 6+ months)
insane run up but right now the token i believe the token is pretty overvalued atm massively fuelled by narrative/macro -- the current burn-to-marketcap ratio, extrapolating for growth rate is anywhere between 325-800x (for comparison
$PUMP is marketed cheap at 5x burn-to-mcap w/ no equity)
also w/ emissions going to 2m on oct 1, at current prices, company needs to burn around $70m/year to get to deflationary (around 70% of last reported revenue) -- revenue != profits, assuming margins are 30%, they need to burn around 200+% of profits to get here (w/ est. 6-12 months if token price is flat)
this would not be an issue if growth rates were going exponential or increasing like crazy MoM, but they've been flat around the low 2-digits range for a while (still great) -- this really needs to accelerate like crazy to even hold the current price
this doesn't mean i'm not bullish on the token or venice, i'm a big fan of the space + product + team and pretty certain the token will hit $100+ some day but when the market gets this delusional its a good opportunity to make money -- re-evaluating your positions is important as a good trader/investor and i think this is a great moment to trade a potential correction as price syncs back w/ fundamentals
will drop a report w/ more data soon