Filecoin Plummets 6%—Key $2.38 Support Level Shattered in Market Rout

Filecoin's floor just collapsed—dropping over 6% and smashing through the critical $2.38 support level. Traders are scrambling as the once-stable altcoin shows cracks in its armor.

Blood in the streets? Not quite. But for a project that promised to revolutionize decentralized storage, today's nosedive feels like another 'buy the dip' trap for bagholders. Remember when institutional adoption was supposed to save crypto? Good times.

Technical indicators now suggest bearish momentum could accelerate—because nothing fuels a sell-off like a broken support level and a herd of panicked retail investors. Meanwhile, Bitcoin maximalists are already drafting their 'I told you so' tweets.

Is this the bottom or just the beginning? In crypto, the only certainty is that your stop-loss will get liquidated at the worst possible moment.