Deep Dive
1. Post-Rebrand Liquidation (Bearish Impact)
Overview: Exchanges like KuCoin, OrangeX, and BloFin finalized OMNI-to-NOM token swaps (1:75 ratio) by September 29–30, 2025. Post-conversion, some holders likely sold NOM to lock gains or reduce exposure to the rebranded asset.
What this means: Token swaps often create temporary supply gluts, especially when exchanges delist the old token (OMNI) and list the new one (NOM) with diluted per-token value. NOM’s 24h trading volume fell 30.49% to $51.2M, signaling fading interest post-swap.
2. Technical Breakdown (Mixed Impact)
Overview: NOM’s 7-day RSI hit 27.25 (oversold), while its price trades 18.4% below the 7-day SMA ($0.04793).
What this means: Oversold conditions could hint at a near-term bounce, but the lack of bullish divergence in MACD/RSI suggests weak buying conviction. A sustained break below the $0.04 psychological level might accelerate declines.
What to look out for: A close above the 7-day SMA ($0.04793) to confirm reversal potential.
3. Legacy Delisting Risks (Bearish Impact)
Overview: Gate.io delisted NOM in June 2025, citing low liquidity, and other exchanges like Hotcoin paused futures trading for OMNI/NOM in September.
What this means: These events eroded long-term holder confidence, compounding sell pressure during the swap. NOM’s market cap dominance remains near 0%, reflecting its niche, high-risk profile.
Conclusion
NOM’s drop stems from post-rebrand profit-taking, weak technical structure, and lingering distrust from past exchange delistings. While oversold signals hint at stabilization risks, the absence of fresh catalysts suggests caution.
Key watch: Can NOM hold $0.035–a level last seen pre-rebrand–to avoid a full retrace of its swap-driven September gains?