$4 This wave was smashed from $0.03 to $0.02; in 24 hours it dropped 18.52%, yet trading volume is still $29M—this doesn’t look right. I stared at the on-chain data for a long time and found a signal that most people ignore: the exchange net deposit volume started to go abnormally large about 6 hours before the drop, especially from a few big-wallet addresses that had been quiet for a while. Suddenly they began breaking large amounts of tokens into small lots and sending them into the exchange. This isn’t panic selling—it’s a planned distribution. Even more critical, at the same time a set of newly deployed contracts showed up on-chain, repeatedly using 4 addresses for wash trading on decentralized exchanges to create fake buy-side depth, briefly propping the price above $0.025, and then smashing through in one go. This tactic is very seasoned; it’s not something retail traders can pull off. My take is: this round of sell-off isn’t over yet—$0.02 is just a psychological level. The real on-chain cost-dense area is between $0.017 and $0.018, where there’s a lot of early positioning. If over the next 24 hours the exchange net inflow keeps increasing while the stablecoin deposit rate in lending protocols suddenly jumps, that would indicate capital is preparing for the next round of a hunt. Conversely, if there are large on-chain withdrawals and Gas fees spike in the short term, that could mean someone is trying to snipe a bottom. But right now I’m not seeing any withdrawal signs—I only see deposits. I’ll wait to verify. Tell me your thoughts��