Treasure just dropped a proposal to issue another 173 million tokens
$MAGIC , effectively releasing an amount equal to half of the current maximum supply. Is this selling pressure for real?
Market-wide fear is only at 34, yet the price is already up 6.86%. Clearly, traders are pricing in expectations ahead of time—but if the proposal actually goes through, there’s no guarantee the price will rise this much.
Don’t chase spot prices at the top. Buying in now means being left holding the bag. Wait for the November vote results before deciding. Keep leverage to a minimum on futures, always set a stop-loss, and don’t try to ride out a sudden wick.
What should you do now? Either wait until the proposal is finalized before making a move, or practice and earn rewards in the Halloween Pumpkin Frenzy event. Don’t rush in blindly.
Do you think this
$MAGIC move is just hype, or can the market withstand the selling pressure? Comment 1 if you’re bullish, or 2 if you’re waiting for the outcome.
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