PROVE -347.15% in 24 Hours Amid Sharp Downtrend

On SEP 19 2025, PROVE dropped by 347.15% within 24 hours to reach $37.28, marking the largest 24-hour decline since its listing. Over the past week, the asset has lost 424.06%, and over the past month, it has fallen by 492.47%. Year-to-date, PROVE has declined by an extraordinary 4301.01%. These figures indicate an aggressive bearish trajectory, with no immediate signs of stabilization.

The sharp drop has been attributed to a combination of liquidity constraints and a lack of on-chain activity, as noted by market participants. While no official statements have been released by the project’s team, recent on-chain analysis suggests a mass sell-off from early investors and whale accounts. A decline of this magnitude has led to a reassessment of risk exposure among institutional and retail participants, with many exiting positions to minimize further losses.

The technical indicators confirm a deteriorating market structure. A breakdown of key support levels has led to a freefall in price action, with the 200-day moving average acting as a significant resistance-turned-distribution zone. The RSI has moved into oversold territory, but the depth of the selloff suggests that this level may not trigger a reversal. Instead, traders are watching for a possible continuation to the next level of fundamental support, estimated at $29.50 based on historical patterns.