Kite (KITE) has experienced a dramatic selloff, plummeting 20.3% to $0.220999 in the past 24 hours as profit-taking accelerates following the token’s recent all-time high.
The cryptocurrency, currently ranked #110 by market capitalization, saw its valuation drop from $495.9 million to $397.4 million, representing a loss of $98.5 million in market cap within a single day.
Rapid Reversal From All-Time High
The sharp decline comes immediately after KITE reached its all-time high of $0.288637 on February 20, 2026, at 18:35 UTC. The token is now trading 22.4% below that peak, reached less than 24 hours ago.
Trading volume surged to $116.4 million as investors rushed to exit positions, indicating significant selling pressure across exchanges. The 24-hour price range stretched from a low of $0.220814 to the previous high of $0.288637, representing a 30.7% intraday swing.
Technical Indicators Show Weakness
Short-term momentum has turned decidedly bearish, with KITE dropping 1.6% in the past hour alone. The token’s decline accelerated through multiple support levels, suggesting weakening buyer interest at current prices.
Despite the pullback, KITE maintains strong monthly performance, still up 100.5% over the past 30 days. The 7-day chart shows a gain of 14.6%, indicating the recent rally remains intact on longer timeframes despite today’s sharp correction.
Market Context
With 1.8 billion tokens in circulation out of a maximum supply of 10 billion, KITE’s fully diluted valuation stands at $2.21 billion. The significant gap between current market cap and fully diluted valuation suggests substantial token unlocks remain ahead.
The cryptocurrency has surged 262.4% from its all-time low of $0.061819 recorded on November 4, 2025, demonstrating the volatility characteristic of lower-cap digital assets.
What Traders Should Watch
Market participants should monitor the $0.22 level as a critical support zone. A breach below could trigger additional selling pressure toward psychological support at $0.20. Conversely, stabilization above $0.22 with declining volume could signal exhaustion of the current selloff.
The elevated trading volume relative to market cap suggests this move is being driven by genuine position liquidation rather than low-liquidity price manipulation, making the technical levels more significant for future price action.
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About the Author: Ananya Melhotra
