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Token $丙午 has delivered a solid 10X return, but recent price action tells an interesting story. The chart is painting a textbook double bottom pattern right now, which typically signals potential reversal plays for traders watching the recovery setup.
What we're seeing in the market is the aftermath of an internal conflict within the project team. A core developer apparently parted ways with the project and then publicly communicated this exit to his supporters, triggering a significant community-driven sell-off. It's certainly not the ideal way to handle leadership transitions.
Here's the thing though—sometimes these events create opportunities rather than permanent damage. The panic selling often overshoots the actual fundamental impact, especially when the broader tech foundation remains intact. The current dip could be setting up an attractive entry point for traders who believe the project's core value proposition wasn't destroyed by the management shuffle.
The double bottom formation combined with the capitulation selling pressure suggests we might be near the capitulation zone. Worth monitoring closely for technical confirmation on the next bounce.