One figure really stands out:
$PONS is trending on CoinGecko and ranks
#164 by market cap, yet it’s down 25.77% over the past 7 days. A token that’s getting “attention” from the market is steadily drifting lower in price. That kind of divergence won’t last forever.
Another detail is worth thinking about. On September 7, it traded $231M in a single day. Today, that’s down to just $29.48M. The price fell from $0.845 to $0.39, while volume shrank by nearly 90%—this isn’t panic selling; there’s simply no one stepping in to buy.
So there are two ways to interpret this. Pick a side.
The first: this is a normal pullback and shakeout. A 57.4% drop over 30 days is already brutal, and it’s still 59.51% below its ATH. The token has changed hands extensively; now the question is whether shrinking volume is a necessary step before a bottom forms. The confirmation signal: a high-volume bullish daily candle, with the price holding around $0.36.
The second: the remaining attention is keeping a distribution exit alive. The Trending list brings exposure, but every price bounce gets knocked back down, and liquidity is draining away day by day. Once the buzz fades, the sell-off could accelerate. The confirmation signal: even on high volume, the price can’t reclaim $0.45, or another wallet transfers tokens to an exchange.
One thing matters more to me: if this really is a shakeout, why, after 30 days of drifting lower, did the rate of decline slow from -0.94% to -0.11% on day 30? That sense that it “can’t fall much further”—is it a sign of a bottom forming, or the last calm before the storm?