INIT gave back the whole hack rally in one day — worst day in its history
$INIT $0.1276, -51.6% in 24h, range $0.1258-$0.395, Binance volume $39.5M (12 Nov, ~05:51 PKT).
The 11 Nov daily close settled it: $0.1342, down 51.2% on the day. The candle opened at $0.2751, spiked to $0.395, then collapsed to $0.1322. In INIT's 568 daily candles on Binance, there has never been a worse one-day drop — no single day before this one fell 40% or more.
That kills the whole rebound. The 10 Nov close was $0.2748 and the 9 Nov close $0.1911 — price is now below both, below EMA20 $0.1551 and just under SMA50 $0.1350. Only SMA200 $0.0826 sits below. RSI 39.7. CoinMarketCap put it plainly: INIT "more than doubled and then gave back its gains."
The chain is still halted since 06:18 UTC on 10 Nov. No restart date. Initia says it is rebuilding the infrastructure from scratch, which takes longer than a routine restart. The attacker moved about $3.27M; $2.16M of it is frozen on the paused chain. Full repayment of affected assets is promised, but the plan is not final yet.
Expectations (not a guarantee): base-rate study on INIT's own history — 1-day drops of 20% or more, symmetric 10% barriers, 7 days, episodes 7+ days apart, 568 candles. N=4 only: UP first 2, DOWN first 2 — a coin flip, no edge. 7 days later price was higher in 2 of 4. And a 51% down day has no precedent at all (N=0 for 40% drops before today), so history gives no reliable read here.
Plan: stand aside. No chasing either way. Long only on a daily close back above EMA20 $0.1551, stop under $0.1258. Targets $0.1551, then $0.1911. A close under $0.1258 opens SMA200 $0.0826. Tiny size, spot only. Confidence: Low.
Close verdicts elsewhere: BTC held its 200-day line again (11 Nov close $74,015 vs SMA200 $73,150); PEPE's breakout officially failed (close $0.00000452, under $0.0000051); ZEC closed under $1,000 ($964.38).
#INIT #Initia #Crypto
$INIT $0.1276, -51.6% in 24h, range $0.1258-$0.395, Binance volume $39.5M (12 Nov, ~05:51 PKT).
The 11 Nov daily close settled it: $0.1342, down 51.2% on the day. The candle opened at $0.2751, spiked to $0.395, then collapsed to $0.1322. In INIT's 568 daily candles on Binance, there has never been a worse one-day drop — no single day before this one fell 40% or more.
That kills the whole rebound. The 10 Nov close was $0.2748 and the 9 Nov close $0.1911 — price is now below both, below EMA20 $0.1551 and just under SMA50 $0.1350. Only SMA200 $0.0826 sits below. RSI 39.7. CoinMarketCap put it plainly: INIT "more than doubled and then gave back its gains."
The chain is still halted since 06:18 UTC on 10 Nov. No restart date. Initia says it is rebuilding the infrastructure from scratch, which takes longer than a routine restart. The attacker moved about $3.27M; $2.16M of it is frozen on the paused chain. Full repayment of affected assets is promised, but the plan is not final yet.
Expectations (not a guarantee): base-rate study on INIT's own history — 1-day drops of 20% or more, symmetric 10% barriers, 7 days, episodes 7+ days apart, 568 candles. N=4 only: UP first 2, DOWN first 2 — a coin flip, no edge. 7 days later price was higher in 2 of 4. And a 51% down day has no precedent at all (N=0 for 40% drops before today), so history gives no reliable read here.
Plan: stand aside. No chasing either way. Long only on a daily close back above EMA20 $0.1551, stop under $0.1258. Targets $0.1551, then $0.1911. A close under $0.1258 opens SMA200 $0.0826. Tiny size, spot only. Confidence: Low.
Close verdicts elsewhere: BTC held its 200-day line again (11 Nov close $74,015 vs SMA200 $73,150); PEPE's breakout officially failed (close $0.00000452, under $0.0000051); ZEC closed under $1,000 ($964.38).
#INIT #Initia #Crypto