Key notes
- The move dropped by more than 21% in 24 hours, reaching its lowest price of all time.
- The co-founder Rushi Manche was suspended following a controversial marketing agreement.
- Coinbase will interrupt the exchanges of May 15 due to the registration of standard violations.
The native cryptocurrency of the project of the Ethereum Layer-2 project moves, denounced at a record level of $ 0.185 today. At the time of writing the editorial staff, the token is negotiated at around $ 0.19, down 21%, following a series of controversies.
The drop in prices follows the suspension of the co-founder of the Rushi Manche project by Movement Labs. This disciplinary action comes after a marketing agreement involving Rentech and Web3port, a market market that spilled 66 million travel tokens on the free market, around 5% of the total supply.
We confirm that Rushi Manche has been suspended from motion laboratories. This decision was made in the light of current events and, as third -party examination is still underway by Groom Lake concerning organizational governance and recent incidents involving a market market.
– Movement (@movementlabsxyz) May 2, 2025
Movement Labs revealed the suspension in an article of May 2 on X. This decision followed the announcement of Coinbase that it will have been suspected of the move since May 15, citing its inability to comply with the registration standards.
This controversy began with an agreement negotiated by Manche and Rentech, which granted Move tokens’ major web3port. Shortly after, web3port would have liquidated its assets for 38 million dumbfounding dollars in December 2024.
Community backlash
Meanwhile, Binance recently announced that he had a market for a market involved in misconduct. Although he did not explicitly appoint Rentech, the description corresponded closely to the discharge token discharge incident.
Binance noted that the nameless company had sold tokens aggressively while placing minimum purchase orders, benefiting from $ 38 million before being banished from the platform. The exchange added that these funds have been frozen and will be redirected to compensate for affected users.
The Network Foundation movement plans to use the benefits entered to launch a buyout initiative and create a strategic reserve. However, investors’ confidence seems to be shaken.
A member of the community wrote: “Move is now a useless piece.” Others were slightly more optimistic, stressing that a suspension is not a permanent radiation.
Movement @movementlabsxyz rip up his community and his loyalty investors
The teams continue to sell the token until the whole room is not to which it is nothing to write. I am not surprised by the announcement of Coinbase. Other exchanges will follow soon.
Moving is now an unnecessary room pic.twitter.com/k9xsfm9b0v
– omonuwa_web3 (Ø, g) 🧡👀 (@ omonuwa67) May 1, 2025
MOVE initially gained momentum in January, when World Liberty Financial, supported by Donald Trump, bought for $ 1.9 million of tokens.
Move pricing perspectives
The drop in current travel prices has led to the loss of $ 135 million in the token market capitalization. On the daily graphic, the RSI is almost 31 years old, approaching the territory of occurrence. This suggests that sellers could soon run out, but no clear inversion has yet been formed.
Move the price table | Source: Commercial view
Bollinger groups show the price hugging the lower strip, a sign of volatility and downward continuation. Ventilation less than $ 0.18 could trigger new panic in the $ 0.12 area.
Meanwhile, the MacD line has crossed above the signal line, which could refer to a short-term bullish divergence, but this signal is low given the wider drop trend. Traders could see immediate resistance at $ 0.24, with higher pressure almost $ 0.30.
Move the price table | Source: Commercial view
following
Non-liability clause: Coinspeaker undertakes to provide impartial and transparent reports. This article aims to provide precise and timely information, but should not be considered as financial or investment advice. Since market conditions can change quickly, we encourage you to check the information for yourself and consult a professional before making decisions according to this content.
Cryptographic journalist with more than 5 years of experience in the industry, Parth has worked with the main media in the world of crypto and finance, the collection of experience and expertise in space after having survived bear markets and bulls over the years. STHTH is also an author of 4 self-published books.
Parth Dubey on LinkedIn
