Internet Computer (ICP) Price Plummets 11% Weekly

Edgen Crypto

·Jan 28 2026, 17:50

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Key Takeaways

Internet Computer (ICP) saw its price fall significantly, erasing some of the gains from a prior rally and raising concerns among investors about its short-term trajectory. The sharp decline has shifted market sentiment, increasing the likelihood of further price volatility.

Weekly Decline: The price of Internet Computer's ICP token dropped by 11% in the week leading up to January 28, 2026.
Sharp Reversal: This downturn follows a "massive pump" in November, leading some market participants to question the rally's sustainability.
Bearish Outlook: The price action has fueled negative sentiment and fears of a continued sell-off, with traders now watching for signs of either a rebound or a deeper collapse.

ICP Token Slides 11% After Prior Pump

The price of Internet Computer's native token, ICP, registered a sharp 11% decline in the week ending January 28, 2026. This downward move represents a significant reversal for the asset, which had experienced what one social media user described as a "massive November pump." The subsequent price action, which saw the token go "straight off a cliff," has erased a portion of those earlier gains and shifted the technical outlook for the token to decidedly bearish.

Bearish Sentiment Grows, Sparking Sell-Off Concerns

The sharp price reversal has fueled negative sentiment across the market, with some observers on social media platform X describing the pattern with skepticism, calling it "classic rug vibes." This commentary reflects growing concerns among investors about the potential for further declines. The 11% weekly drop may trigger additional sell-offs from holders, leading to heightened volatility as the market determines whether a price floor can be established or if a steeper collapse is imminent.