$INIT – Massive collapse after the pump, the bears take control

It suffered a sharp hit, now trading at $0.5113, down -23.57% in the last 24 hours.

After reaching a high of $0.6722, the price sharply dropped to a low of $0.5066, where the bears completely took over the recent bullish momentum.

This is a classic case of selling after the pump.

After the initial rise, sellers aggressively entered, causing a rapid price drop of more than 25%.

The momentum has clearly shifted in favor of the bears.

As long as $0.5000 holds, we may see some relief or short-term rise.

However, if it breaks below this level, a further drop towards $0.4600 or lower is possible.

Bulls need to reclaim $0.5550 or higher to regain any strength.

Caution is advised. Let the market stabilize before re-entering.

Buy and trade here on $INIT

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