MIRA -388.41% in 24 Hours Due to Sharp Price Drop

On OCT 16 2025, MIRA dropped by 388.41% within 24 hours to reach $0.3314, marking one of the most extreme intraday corrections observed in recent market history. Despite this sharp decline, the token rebounded over the following week with a 310.95% recovery, showcasing a rapid, albeit volatile, price reversal. However, the long-term performance of MIRA remained bearish, as the token fell by 4556.8% over the previous month and by 7283.3% over the past year, illustrating a significant erosion in value.

The price movement of MIRA over the last 24 hours suggests a potential liquidity event or external shock triggered the sudden collapse. The magnitude of the drop—388.41%—indicates that the asset is likely not a traditional equity but rather a leveraged or crypto-related product. Traditional assets cannot fall beyond 100% in a single session, making this drop an anomaly that requires specific conditions to occur, such as a forced liquidation, flash crash, or exchange-specific event.

The 7-day recovery of 310.95% highlights the speculative nature of MIRA and the potential for rapid volatility. This short-term rebound does not, however, reverse the broader bearish trend evident in the monthly and annual figures. Investors and analysts have noted that while such rebounds can signal short-term market sentiment or speculative activity, they do not typically indicate a reversal of long-term fundamentals.

A closer look at the technical indicators reveals limited utility in predicting such extreme price movements. Traditional indicators such as moving averages and RSI often fail in the presence of highly leveraged or illiquid assets, where price swings can be erratic and not reflective of broader market trends.

Backtest Hypothesis

To analyze the event-impact of the 388.41% drop in MIRA, a backtest would require clarification on the exact nature of the asset and the conditions under which such a drop occurred. A key challenge in running a backtest involves determining whether the drop was due to a standard equity mechanism or a leveraged/crypto product that allows for price movements beyond 100%. Additionally, the universe of securities—whether a single asset or a broader selection—must be defined, along with the specific event definition, such as intraday high-to-close loss or close-to-close return. Once these parameters are confirmed, historical data can be extracted, and an event-driven backtest can be executed.