i've put in a sizeable position for this trade too and now am stuck. i've done some reading and this is a coin for a strip club in Vegas. the pump up was due to media announcements + hosting an event for mayweather vs mcgreggor. Customers who wish to become VIP's have to purchase 5000 LGD coins. if you look through the history of the coin you'll notice single day large spikes, followed by an immediate crash, probably the coins being dumped by the club owner.
there is another event on the 9 of september, however i dont expect it to be as big as the mayweather event. probably wont have as much of a spike. meanwhile dont expect the coin to move any higher.
Ouch, so this coin is only used by a single strip club? Damn lol I wish i knew that before taking the trade. There's a huge boxing match coming up, I thought it was on the 16th, supposed to be two very legit fighters.....obviously nothing will get the hype that mayweather/mcgreggor got, hopefully I will be able to sell for break even.
they have a twitter follow it for updates https://twitter.com/legendarycoin?lang=en
lesson learnt. always read the story of the chart. preferably before you buy ;)
Thanks for the info, good to know I wasn't the only one who fell for that drop. Tried doing my own research when it happened and never got deep enough to make heads of tails of it, just praying for that spike lol