Here’s a quick reminder of what happened the last time MF1 was at this level (circle highlight). Look at that visit down to 0.4. Then look up. Indeed there’s an opportunity and willingness to buy.
Before the dip happened, an incredibly large amount has been withdrawn from the exchange to a private wallet, so it gives a better insight that someone is convinced this will worth much more.
Of course, the external effect ( rectangle highlight) that highly compromised the whole crypto-ecosystem cannot be ignored, and it is great news that this drop is the result of a clearly external event. Funds started to move out from fresh projects to more stable, mature or even boring ones, then money started moving out of crypto.
So if you are confused whether the current price depends on MF1’s performance and whether it’s an indication of future price, please calculate with the end of the Russian – Ukrainian conflict, and the return of funds to crypto and within crypto to smaller, progressive projects.