Deep Dive
1. Post-Listing Volatility (Bearish Impact)
Overview: MCH launched on Binance Alpha and Gate.io on 3 September 2025, accompanied by an airdrop campaign. While initial trading saw activity, the price has since dropped 93.5% from its 90-day high ($0.106 → $0.00687).
What this means: Early buyers likely took profits post-listing, while limited liquidity (24h volume: $1M) amplified downside moves. The 0.589 turnover ratio (volume/market cap) suggests moderate liquidity risk, making large trades impactful.
What to look out for: Sustained volume above $1.5M could stabilize prices, while a Binance mainnet listing (unconfirmed) might reignite interest.
2. Miner Sell Pressure (Bearish Impact)
Overview: 42% of MCH’s 1B supply is allocated to “ZK + AI mining.” With only 24.9% circulating, ongoing unlocks could flood markets with new tokens.
What this means: Miners may sell rewards to cover hardware/operational costs, creating consistent downward pressure. The -93.5% 90d return aligns with this supply-side risk.
What to look out for: On-chain data showing miner wallet movements or exchange inflows.
3. Technical Breakdown (Bearish Impact)
Overview: MCH trades 16% below its 7-day SMA ($0.00818) with RSI7 at 22.24 (oversold). The MACD histogram (-0.00103) confirms bearish momentum.
What this means: While oversold conditions often precede bounces, the lack of bullish divergence suggests weak buying interest. The next key support is the September low of $0.00451 (Fib 78.6% retracement).
What to look out for: A close above the 7-day SMA ($0.00818) to signal short-term reversal potential.
Conclusion
MCH’s decline reflects fading post-listing momentum, miner sell-offs, and technical breakdowns. While oversold metrics hint at possible stabilization, sustained recovery likely requires reduced supply pressure or new ecosystem developments.
Key watch: Can MCH hold the $0.006 support level, or will miner unlocks push it toward September’s $0.0045 low?