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Based on recent trends, the big players behind this project are mainly playing the game of trapping large investors. Smart funds injected 2.2M yesterday, but those whales who went long at the 1.2x level are now tightly trapped—some even chose to cut losses and exit.
Recently, there was another spike, and a few less committed holders were shaken out. At this pace, the big players will probably make 1-2 more pushes, forcing out those stubborn large holders, and then it will be about time to start a rally.
This kind of tactic is quite common in the crypto world—first using various methods to trap big investors, waiting for them to either cut losses or hold tight, and only then starting the real market movement. It seems that the timing is getting close.