Key Takeaways:
Humanity Protocol's H token fell 10% to $0.63 on June 3 after reaching an all-time high of $0.8534 the previous day, as profit-taking and declining on-chain activity weighed on the proof-of-humanity token.
"The rapid run-up to the ATH created a natural exit point for early participants, and the drop in social volume suggests retail interest is cooling," Jason Wu, an on-chain analyst, said. "The question now is whether the double-bottom support near $0.06 holds if selling accelerates."
The token surged 80% in 24 hours on June 1 to hit $0.67 before extending gains to the $0.8534 record on June 2, according to CoinMarketCap. Trading volume reached $555 million on June 3, down from the peak but still elevated relative to the token's historical average. Open Interest climbed 51.56% to $478.04 million during the rally, Coinglass data shows, though 65.36% of Binance's top traders maintained short positions as of June 3.
The pullback comes as Humanity Protocol's on-chain metrics show weakening momentum. Active addresses and social engagement have declined since the ATH, mirroring a pattern typical of post-peak distribution phases. The token's Relative Strength Index reached 82.23 during the rally, indicating overbought conditions that often precede corrections. The double-bottom reversal that formed near $0.06 in May 2026 had previously driven the token through resistance at $0.196 and $0.380 before the parabolic move to new highs.
H token trades on centralized exchanges including Bybit, Bitget, KuCoin and MEXC. The project, founded by Terence Kwok and backed by Animoca Brands and Polygon Labs, uses zero-knowledge proofs and palm recognition to verify unique human identities on its zkEVM Layer-2 network. With a circulating supply of 2.83 billion tokens out of a total 10 billion, future unlocks could add selling pressure if demand does not keep pace with emissions.
This article is for informational purposes only and does not constitute investment advice.
