Mask Network (MASK)

According to CryptoOnchain @OnChain, the MASK token fell to $0.33 on June 6, marking the lowest level in the past six months. However, on the day of the crash, network activity surged, with the number of active addresses jumping from the usual 70–90 to 280.

Generally, a combination of a sharp price drop and a rapid increase in network activity often indicates panic selling (capturing) by retail investors. In fact, deposits to Binance were also rising.

On the other hand, the withdrawal data is noteworthy. On June 6, 1.45 million MASK were withdrawn from Binance, resulting in a substantial net outflow of over 256,000 MASK. This suggests that large investors may have been absorbing the market’s selling pressure.

The analysis points out that while bearish investors were dumping, smart money was likely buying undervalued spot tokens and moving them to cold wallets. Historically, episodes where large exchange outflows, sharp price drops, and increased network usage occur simultaneously are often precursors to a depletion of selling pressure and a market reversal.

$MASK (CA FXeqJw3fmMgGP8vBL5MJyiZaTBD9LW8iYfsqZqUBpump) doesn't have snipers and insiders per devsnightmare. Leweegi, lexaproside.sol (not Lexapro), ProfessorFit are top holders.

No major clusters on the bubblemap, CEX map cluster has 61.2%. Binance funded wallets have 14.5%, Coinbase 29.8%, Bybit 7.8%, Change Now 4.9%, Mexc 4.7%.

Top 70 holders have 69.2%, top 10 have 21.8%, 775 holders with an average bag at $135. Nfa

I’m still holding $mask

The lore around the virus is interesting.

Also, I spotted a supply squeeze pattern based on Nansen data.

How does it work and why am I paying attention to it?

On the picture (1) you can see the change in supply on Exchange (liquidity pool) and in the top 100 holders (Nansen shows the top 100 supply together with the Exchange).

You can see that the exchange supply dropped from 185M to 89M, which indicates accumulation – supply is moving from the liquidity pool into holders hands.

Now look at the top 100 holders supply on the same picture (1)

You can see that they hold 660M tokens, including the exchange pool.

The total supply is 1B tokens. Where are the remaining 340M?

In the hands of holders from rank 101 and below (there are about ~1,100 of them in total)

This shows that there are real holders, even though the token was only 7 hours old at the time of my analysis.

The best scenario here is when the yellow bar in the "top 100 holders" tab goes down – this means holders ranked 101 and below are accumulating and the holder base is rapidly increasing.

Right now that bar is slightly rising, but it’s still a okey signal.

The community is also growing and holders are actively posting memes.

My on‑chain score: 8/10
My community score: 8/10

If you have questions about on‑chain analysis, feel free to ask

Called $mask in my TG (link in bio)

NFA, DYOR