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I have no idea what this icon is in the status bar at the bottom of visual studio. Everything else in the status bar has a tooltip except this one icon. It will sometimes be there and sometimes it isn't. Usually when it shows up, it stays. I feel like something is happening, but I can't see anything. I can leave visual studio sitting there for an hour and its still going.

Anyone shed some light on this?

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    After looking at it for a while I feel like it might be sprinkling fairy dust on my code to make it better. I can say this for sure, it isn't working. Commented May 3, 2023 at 0:52

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It means that the project is building. Sometimes the icon stays for longer time, in which case VS probably executes some project analysis.

See also Visual Studio 2017 Icon with down arrow in status bar - what does it mean?

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