YEREVAN (CoinChapter.com) – Mirror Protocol (MIR) price stood at $0.17 on Dec 26, after a nonsense Christmas rally. The digital asset registered 150% intraday gains on Dec 25, but the rally fizzled out mere minutes after the spike, paring the recent gains by 35%.
As a result, on Dec 26, MIR still traded a whopping 99% lower from its all-time high of $12.3 in May 2021. The chart below does not demonstrate a MIR coin revival. Instead, the rally looks more like a ‘dead cat bounce’ of the project from the Terra ecosystem.
Mirror Protocol has been inactive for months, adding to the confusion behind the sudden surge. Parallel to the spike, MIR’s trading volume rose over 4,200% and stood at $194 million. Moreover, a closer look at the low time frame chart showed that the digital asset pumped 1,500% on Binance within 3-4 minutes, at approximately 00.00 am UTC.
Also read: Mirror Protocol (MIR) hits record low as Terra fails to maintain the UST-peg
The sudden MIR rally came before delisting from Binance
While Santa had little to do with the coin pump, someone else might have shilled the Mirror Protocol. In detail, on Dec 21, Binance announced it would delist several crypto pairs from spot trading – MIR/USDT, MIR/BTC, and several others on Dec 27, at 03:00 (UTC).
Binance will remove and cease trading on the following trading pairs: Spot Pairs: ANC/BNB, ANC/BTC, ANC/USDT, MIR/BTC, MIR/USDT, TORN/BTC, TORN/USDT, YFII/BTC.
read the announcement.
“Users can still trade the above assets on other trading pairs that are available on Binance,” noted the exchange. However, some users saw an opportunity to pump MIR and ANC once more before the ‘show is over.’
Who shilled MIR?
Several Twitter users accused a social media influencer, ‘Bull BNB,’ of shilling the coin.
System not working for months. Already delisted from Binance Futures. It will also be delisted from the spot tomorrow. Hey @bull_bnb, you are a successful FOMO expert. I appreciate it. But you’re still pumping coins with 1-day life. DON’T DO THIS !! RUDE! SIN!
Commented one of them.
@bull_BNB posted several conversations on his Twitter page, hinting at a 20x surge.
Moreover, the user claimed that coins pump every time Binance plans to delist one. Despite whether the statement has merit, MIR did pump 1,500% on Binance, albeit briefly.
Shilled pump or not, the MIR rally didn’t last long. So on Dec 27, Binance will delist the MIR/USDT pair, which typically means the project will have slim chances for a comeback.
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