WAL continues to consolidate at low levels today, with the price tightly sticking around $0.143. The intraday decline is less than 0.04%, as if glued in place. The entire trading day’s activity range is confined within a narrow band of 0.140 to 0.150, with little excitement.

However, trading activity remains active, with 24-hour trading volume maintaining at several tens of millions of dollars, at least indicating that the market hasn't completely cooled down. On-chain circulation stands at 1.57 billion tokens, with a total supply cap of 5 billion.

The real drama happened not long ago. An airdrop event by a major exchange caused quite a stir—some people claimed their tokens and then dumped them, causing a flash crash. The selling pressure was indeed fierce, making short-term buying difficult. Currently, some technical voices suggest a possible double bottom pattern, but don’t take it too seriously. Moving averages haven't stabilized, and the overall pattern remains weak, with limited technical support.

In the futures market, the long and short forces are nearly evenly matched, with shorts slightly leading but not by much. The liquidation scale is just over $20,000, which indicates what? Market sentiment is very stable; no one is playing with high leverage, and everyone is in a wait-and-see mode, with no one actively taking action.

To clarify the situation: WAL is now a high-volatility asset driven by events. The decline in trading volume is not driven by panic selling but mainly by profit-taking from airdrop recipients and existing holders exchanging chips. At this level, bold traders can consider it a bottom for oscillation and layout, but only if it stabilizes first.

The key going forward is whether the Sui ecosystem will see new capital inflows. If there’s no movement on that front, expect continued sideways consolidation and patience.