$MYX Unlock Day Bloodbath, Unlock Triggered A Short Squeeze, Then Crashed Over 50% From Highs

Key Points

1. $MYX's price plummeted 58% to $0.9184 from a high above $2, with Hack VC selling 1,279,890 MYX (~$2.15M) shortly after the unlock.

2. Market reaction was severe, with traders labeling the event as a 'VC dump' or 'rug unlock,' while some viewed it as a market correction.

3. Hack VC remained silent on social media, fueling speculation about whether the sell-off was strategic risk management or a profit grab.

4. On-chain analytics indicate potential further sell pressure, with large wallets preparing to sell below $1, creating trap zones for late buyers.

5. Despite the crash, opportunistic traders are eyeing a rebound, with $MYX trading at a 19% discount from its peak, though future vesting unlocks pose additional risks.