Fantom is down 40% in five days, and 80% since ATH. But I'm considering an entry point now and here's why.

Fantom is a fast, high-throughput open-source smart contract platform for digital assets and dApps.

What does that mean? Well basically its a challenger to Ethereum. It has decent wallets, DefI and tokenomics. Is it better than Ethereum? Solana? Cardano? You guys can argue that in the comments, I don't really care.

What I'm interested in is the profit taking.

So why am I looking at putting money into a project that has lost nearly half its value in 5 days?

Simple. It's undervalued. The current price has nothing to do with its use or what it should be trading at. It has decent fees and use case.

Fair enough. So why is it dropping?

Well firstly, any alt will experience the impact of a crypto dump more than Bitcoin and Ethereum will, but Fantom has taken a considerably bigger dump than others. This is because of one stupid-ass whale.

His name is Roosh. But from here on, I'll call him Douche.

Douche is a whale in Fantom. The top whale in fact. But he's also a sick f**king degenerate. I wouldn't be surprised if he was a member of WSB. Maybe its Shkreli buying from jail for all I know.

Douche took out a loan. A whale sized loan. Pretty much everything he had. Traded it for Fantom and then f**king staked all of it! In case you don't realise, this means the funds can't be accessed, at least in sufficient time to do anything about it. And when you need to repay a loan, you need access to funds. If the value of Fantom is high, that's easy. If it drops, you'll have to sell some of your position to pay off your loan. Funds if you can't get them out, you're f**ked. Everything was illiquid.

So what did douche do to fix his problems?

Well he is degenerate remember? And because he's a whale, any liquidation even on his part would tank the price of Fantom. He called up his ape buddies. hey, can I borrow $50m to cover this debt? The apes did their ape thing and loaned him the $50m.

Problem solved, right?

LOL no. Crypto does its crypto thing and the price continues to drop. Now Douche needs more money to cover his loans. Except this time, the other apes are busy covering their own asses and tell him to f**k off.

So he liquidates part of his position.

And this crashes the price. Other buy and sell orders take over and the price continues to drop. Paperhands shit themselves and sell at a loss too.

Interesting. So buy now?

Nope. Need to wait a little longer. Douche hasn't finished being Douche. His position is not yet fully closed. According to the chain, he still has about $18m. If the price keeps dropping, this will continue this cascade against Douche.

So what am I doing?

Laughing mostly. Usually it is us retail investors that get f**cked in the ass by leverage. So it's nice to watch a whale get totally molested. In terms of investing into Fantom. Nothing has changed with the tech, and it's a fairly solid project. So yeah, I'm looking at putting some cash in and pulling out aftyer the price recovers to, say, $2.