TAO came under heavy pressure on April 9 and 10, dropping about 18% to 20% in a single day and sliding toward $240. The move followed a public rupture around the project. Covenant AI founder Sam Dare criticized what he called “centralization theater,” and the separation was confirmed the next day. After that, the former Covenant AI team sold about $10 million worth of TAO, roughly 37,000 tokens.
Covenant AI exit deepens concerns around TAO
The sell-off hit more than price. According to the report, the departing team also accused Bittensor founder Jacob Steeves of centralizing behavior, adding reputational damage to the market shock. Covenant AI had been managing some of the stronger AI models on the network, including the SN3, Basilica, and Grail subnetworks. That left traders and investors questioning the project’s direction after the split.
Analyst Sherpa did not turn fully negative on TAO. He acknowledged strong fear and uncertainty in the market, but said a bounce around $230 could become an attractive area to watch. In his view, a faster recovery would require TAO to reclaim $260 and then $288. The article also made clear that this view remains tentative unless Bittensor gets a meaningful positive shift and the market shows that Covenant AI’s departure has been absorbed.
DOGE chart points to buyer momentum
Dogecoin drew a different kind of attention. Analyst TATrader_Alan said three candlestick patterns suggest the chart is shifting from seller control toward buyer momentum. He argued that DOGE has now broken upward from a bearish descending triangle. If that breakout holds, the token could test $0.20 over the next several months.
Bitcoin at $73,800, but $80,000 remains the key test
Bitcoin was trading near $73,800, yet the broader technical picture stayed cautious. Analyst Columbus0x said he still treats Bitcoin as being in bearish territory unless price proves otherwise. His line in the sand is the 200-day moving average around the $80,000 area. A strong move from $75,000 to reclaim $80,000 would be, in his view, the first substantial bullish signal.
Across the three assets covered in the report, the drivers are very different. TAO is reacting to internal conflict and direct token liquidation. DOGE is being judged through chart structure. Bitcoin remains tied to a major moving-average threshold. For now, the market is watching a small set of levels closely: $230, $260, and $288 for TAO, $0.20 for DOGE, and $80,000 for Bitcoin.