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Every defi token cares about dollar strength when liquidations start cascading, SPELL is not special.
SPELL's correlation to dollar strength basically evaporates when MIM is the variable, it's the depeg risk on their stablecoin that drives the real liquidation cascades, not DXY.
That whole move looks like they ran stops above the last swing high to shake out shorts before dumping it back down. Abracadabra has been around a while but the team's track record makes me nervous.
Spell actually working for once, took long enough
spell "working" is a stretch when this kinda pump historically just front-runs another mim wobble that wipes half of it back out.
Almost interesting, need a bigger flush first
lmaooo spell said "nah fam" and rekt my whole take, classic me 💀
Well, I called the infra wrong and the price wrong, so that's a clean sweep.
Dollar still firm.