DeepNode has been a hot topic recently. Honestly, their timeline is a bit outrageous—Twitter was just created in November, they completed fundraising in December, and launched the token in January. The pace is really fast and somewhat abnormal.

The liquidity pool distribution set by the project team is quite worth analyzing:

0.04-0.64 range: 450k USDT
0.32-1.28 range: 50k USDT + 35.63k DN
1.28-16 range: 52.08k DN
3.19-8.0 range: 537.3k DN

Just looking at this setup, you can already see some clues. The 450k USDT is stacked in the lowest price range, which could imply two things—either the project team is really committed to defending support at 0.04-0.64, or quite the opposite, they are deliberately trying to avoid this range to prevent their funds from being exploited for arbitrage.

As for placing a large amount of tokens around 3.2, it doesn't necessarily mean they want to dump the price. Not many projects do that intentionally. But you can clearly see there is support at 1.28; it was briefly broken during the early hours but has now been pulled back.

The real issue lies on-chain. Every time someone transfers about 5k in funds to manipulate the price, it pushes the price down to around 1.2 before stopping. This results in a painfully thin order book, which is the main reason I’m hesitant to swing trade at the moment.

Interestingly, after Alpha transferred 1 million tokens to a major exchange previously, the project team added another 2 million yesterday. The reason behind this pattern is unclear—there could be a trading competition involved, but other considerations are also possible.

If DN really drops to around 0.8, I might consider buying some.