Why the price of Chainbase has dropped over the last 24 hours. First, let's look at the price data. Over 24 hours, the change was -4.29%, which is a noticeable decline. Over the last 7 and 30 days, the drop is even more significant at -14.27% and -52.29% respectively. This means that the recent drop over the day is part of a longer-term downward trend.
If we look at the news and the overall situation, several factors can be highlighted. Technical analysis shows that the RSI7 is 28.22 — this is the oversold zone, which may indicate selling pressure. The MACD histogram is negative, indicating a bearish sentiment in the market. The 30-day moving average (SMA) is at 0.2784, and the current price is below it, confirming the downward trend.
The news mentions that Chainbase was added to several exchanges, such as Binance, BitMart, and ONUS in July 2025, which initially caused a price increase. However, the current date is August 22, 2025, and the listing news is already over a month old. After a listing, volatility is often observed as early investors take profits, which may explain part of the previous declines.
Global cryptocurrency market indicators show a slight decline (-1.23% over 24 hours), but the drop in Chainbase is more pronounced, suggesting the cause is likely specific to this coin. The fear and greed index is in a neutral zone, so panic in the market as a whole is not the main reason.
Recent news from August 12, 2025, reports on the listing of Chainbase on Bitrue, but that was 10 days ago. There are currently no positive news that could stimulate buying, which may reduce interest in the coin. Additionally, the Binance Square campaign, which was supposed to end in October 2025, is still ongoing, but if its incentives weaken, it may reduce buying demand.
Another point is the high volume of circulating coins (160 million out of a total of 1 billion) and possible pressure from airdrop recipients. Under the HODLer Airdrop, 20 million tokens C were distributed, and another 10 million were to be distributed in three months. If the second distribution occurred around August, it could have increased selling pressure as recipients cash out.
Technically, the price is below key Fibonacci levels, with the nearest support at $0.1978. Breaking this level could trigger further sell-offs. Trading volume has decreased by 5.62%, indicating reduced buying activity.
In conclusion: the price decline of Chainbase is caused by a combination of technical factors, reduced interest after listings, possible sell-offs after airdrops, and the lack of new positive news. The neutral market sentiment does not contribute to growth, and without new events, the downward trend is likely to continue.
