Two-day cleaning: from 0.00971 to 0.00875

The selling pressure in the early morning was more fierce than the night before. Yesterday's low of $0.00971 failed to survive a single trading day. The serial liquidations on the contract side this morning pushed the price directly to $0.00875 - a bit lower than the pin low of the 10·10 major liquidation, thus rewriting the lowest price in history. The spot market at the deepest level is almost empty. Between several market price sell orders, the buy level was once so empty that it could be seen with the naked eye.

Then the decline stopped. There was no announcement and no news; bids simply appeared. Some said monthly buyback funds were providing support—XIP-1 had authorized buybacks, though there was no way to verify whether this was one. Others said quantitative traders were picking through the wreckage; still others said there was simply nothing left to sell. None of the three explanations had evidence. The author recorded them without ruling.

By evening, the price had recovered to $0.0109, almost entirely swallowing the two-day plunge and leaving a glaring long lower wick on the daily chart.

Two days and one V completed a textbook washout: leveraged longs died on day one, stop-loss orders on day two, and the remaining tokens changed into unknown hands. The Night Watchman never looked at the market. When he awoke to the flood of messages, he replied only: “As long as the node did not go offline.”

Author's note: in 2024, a 5% decline in this project made the news; in 2025, a 50% decline could trend; in 2026, it fell through its all-time low and recovered within two days, and industry media wrote not one word. The absence of coverage was itself a footnote on rank and status—it explained the predicament better than the chart.