🚨 $TAO Under Pressure — Drama Shaking the Market 👀
$ has taken a serious hit recently, and the impact is already visible in the price 🔥
The situation escalated after Covenant AI exited the network and raised concerns about centralization, followed by a large sell-off of around 37K TAO 📉
This triggered a sharp drop of nearly 25% in just two days, wiping out close to $900M in market cap and causing heavy liquidations 👀
As of mid-April, price has been trending lower, showing clear weakness after the news ⚠️
💡 What’s the main issue?
Concerns around decentralization and governance are creating uncertainty in the market
📊 But it’s not all bearish:
TAO is still one of the leading AI tokens
Institutional interest is growing
The ecosystem continues expanding with more subnets
👉 Short-term outlook:
Selling pressure is still active, and price could test lower levels if momentum doesn’t shift
👉 Long-term view:
If governance issues get resolved, the fundamentals still look strong for future growth 🚀
⚠️ For now, volatility is high — trade carefully and stay updated
$TAO 👀