RAIN crypto price dropped over 17% in the past 24 hours as the Token Millionaire wallet executed a $10 million sell-off. The crypto price today stands near $0.0085, with market cap slipping to $3.5 billion. Key support levels at $0.0082 and $0.0092 will likely dictate the next move. Enlivex reported $1.23 billion in profits from its Rain Protocol treasury despite the selling pressure.

Rain Protocol [RAIN], a decentralized prediction markets protocol, has lost more than 17% in the past 24 hours as of writing. This was the case even though the protocol was supported by Enlivex [Nasdaq: ENLV] as the Digital Asset Treasury (DAT), which aided in the shift to capital markets.

Historical performance of RAIN crypto

While the overall market fell by around 3%, RAIN fell by double digits. The altcoin fell by 9.5% in Q1 2026, after rising in the third and fourth quarters of 2025.

In Q3, the altcoin rose by more than 378% as Q4 closed 112% higher. For the first quarter of 2026, only January has been bullish, where RAIN recorded 23% in gains, as February and March lost 6.41% and 21.6%, respectively.

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While the altcoin’s price continues to crash, it still commands a significant market cap of around $3.89 billion. Will the market cap continue to fall as sell volume rises to $46 million?

RAIN price loses a KEY support level

On the charts, the altcoin has been trading inside a consolidation since the beginning of February. The Bollinger Bands (BB) had been tight during this period and expanded upon breakdown below $0.0082.

The Balance of Power indicator was choppy and in the negative territory with a reading of 0.96. This reading was an indication that sellers were the stronger force at the time of writing.

Now, holding below the key support level at $0.0082 while volatility stays high would push the cap toward $3.5 billion.

Conversely, a reclaim of this level alongside the middle band of the BB would invalidate the outlook. Therefore, it would be deemed a fakeout, turning the structure bullish if RAIN breaks above $0.0092.

This is because bulls rejected the breakdown, resulting in a strong green candle. However, RAIN had to maintain the rebound momentum to invalidate the structure break.

What accelerated selling pressure?

Meanwhile, it’s worth noting what was behind this sharp drop that was swiftly recovered. For instance, the daily token volume has been rising for the past week, with the high being $28.84 million.

The data showed that the volume came from sellers as the price dropped. For its Total Value Locked (TVL), it remained flat around $4 million since the start of February.

To be specific, the selling of tokens was driven mainly by the Token Millionaire wallet. As per Nansen AI, more than $10 million in RAIN was offloaded as the portfolio’s valuation dropped from $80 million to $69 million.

The volume data showed that the selling pressure came from big holders and retailers. However, institutions like Enlivex were buying, even reporting profits of $1.23 billion following their treasury around the Rain Protocol.

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Final Summary

• RAIN loses 17% of its market cap, but price action recovers swiftly shortly after.
• The next price move for RAIN depended on its reaction around $0.0082 and $0.0092.

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