18K UNO dump on Cryptsy

[RJX]

I just witnessed a 18K dump of Unobtanium @ 07:57:18/19/20. In 3 seconds 18K UNO pushed the price down to 45K satoshi.

What does this mean? I compared to volumes traded earlier and this is the biggest dump since UNO is on Cryptsy.

Can anyone explain what this indicates? I come as far as this: shaking up panic sell to buy in cheap for upcoming pump. I know it's wishfull thinking so I'd like to know from more experienced traders.

Thanks!

[FallingKnife]

18K is at least 10% of available coins.
It probably means that a bag holder had enough and wanted out.
UNO was being pumped from mid-February by Wolong. There were some big holders.

Maybe it was Wolong himself cashing out the last of his stash.

[BitCoinPokerBro]

I just witnessed a 18K dump of Unobtanium @ 07:57:18/19/20. In 3 seconds 18K UNO pushed the price down to 45K satoshi.

What does this mean? I compared to volumes traded earlier and this is the biggest dump since UNO is on Cryptsy.

Can anyone explain what this indicates? I come as far as this: shaking up panic sell to buy in cheap for upcoming pump. I know it's wishfull thinking so I'd like to know from more experienced traders.

Thanks!

wtf do you mean "what does this mean" it means someone no longer expected price to appreciate so they dumped their coins. I mean seriously is it a conspiracy every time someone dumps large amounts of coins?

[counter]

I haven't heard of this coin.  I was going to suggest the this could be a miner cashing out until the previous post mentioned it was 10% of all the coins...  That is what I would consider a red flag for sure.

[sunny67]

Maybe he wanted to swap his coins for something with a more sensible name.

[counter]

Yeah you know what I didn't even think of that.  That is a perfectly logical explanation for someone to drop 10% of all total holding of a new coin.  I feel silly about my previous post now thanks for opening my eyes!