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GIGGLE's chain reaction pump-and-dump strategy, simply put, is an invisible war among the whales, exchanges, and retail investors in the crypto market. Behind this gameplay, it actually reflects the deep-rooted contradictions in public chain ecosystems like BSC regarding liquidity distribution, discourse power, and value capture.
**First Stage: Precise Hunting by Whales**
Large funds scan on-chain data to identify areas where retail investors have tightly set stop-loss orders. Take GIGGLE as an example, the $80-85 price range has particularly concentrated stop-loss orders. Whales coordinate with market makers to directly dump the price, triggering stop-losses, then reverse to go long—both harvesting the bearish traders and profiting from rebounds. Entering and exiting, they eat on both ends.
**Second Stage: The Exchange's Role Reversal**
A top-tier exchange appears to be a neutral platform, but in reality? It lists new tokens to provide liquidity while taking a cut from trading fees (like GIGGLE's trading fee split). Even more ruthless, the exchange adjusts leverage policies and changes rules, directly impacting the cost structure of the whales. When policies change, the entire market gameplay shifts.
**Third Stage: Retail Investors' Self-Destruction**
The common tactics of small retail investors are basically these: frantically setting stop-losses at support levels, actively revealing their bottom cards to whales; being lured by KOLs into chasing rallies and selling off, like a trader who lost $980,000 chasing GIGGLE but still doesn’t learn; blindly following any positive news, eventually becoming the bagholder for the whales' dump.
**Exposure of Ecosystem Fragility**
GIGGLE's rollercoaster price movements actually hit the pain points of the BSC ecosystem. Over-reliance on the words of a few core figures, where a single statement can cause a limit-up or a limit-down, and a tweet can crash the market. Such an ecosystem, while seemingly liquid, is actually extremely fragile—once the whales move, the entire market trembles. Participants are increasingly aware that in such an environment, retail investors find it hard to get ahead.