BANK was slashed in half today—within one day it dropped by more than 50%. The pace is just unreal. Two days ago it was still setting fresh all-time highs, and now it’s been knocked back to square one.

On a one-week view it’s also down, but the drawdown compared to today’s drop is basically nothing—the main reason is that today’s “knife cut” was the harshest. If you stretch it to a one-month view, it’s still soaring, because this coin is a brand-new listing from recently: it surged from a few cents, only to fall back down again. Both its up and down moves are huge enough to be scary.

In the past 24 hours, it topped out around 0.37 and was directly smashed down to 0.13. The spread between the high and low within a single day is nearly three times. This kind of volatility isn’t a normal adjustment anymore—it looks more like concentrated profit-taking combined with panic selling all at once.

The circulating supply is only a small fraction of the total float. With a new coin, the supply is already concentrated—so once a large holder bails, it’s easy to trigger a collapse in sentiment. There are still plenty of unlocks coming afterward, so this “bomb” has been hanging there the whole time.

This level is extremely dangerous. The new coin just made a new high and then got cut in half, which shows the previous rally was too fast and too hollow. Now it’s actively deflating the bubble. If you’re holding a position, don’t stubbornly hold on at this point—this kind of dumping in new coins often comes wave after wave. If you’re looking to bottom-fish, don’t rush. Wait until it actually stops falling and stabilizes—entering now is just catching a falling knife. #BANK $BANK