MASK Token Drops 11.5% Amid High Volume as Profit-Taking Follows Parabolic Rally and Major News

Mask Network (MASKUSDT) has seen a significant decline over the past 24 hours, with the price falling 11.51% to $1.637 (Binance data), following a sharp drop from recent monthly highs above $3.60. This downturn is attributed to a combination of factors: a strong parabolic rally earlier in June, followed by profit-taking and a "buy the rumor, sell the news" reaction after positive developments such as the Orb acquisition and the SEC's withdrawal of its lawsuit against Binance. Technical indicators reflect bearish sentiment, with an RSI near 40, a negative funding rate, and increased whale activity in MASKUSDT futures. Trading volume remains elevated, reaching over $218 million in the past 24 hours, indicating high market activity despite the price correction. If bearish momentum continues, the price may test lower support levels in the near term.