Crypto:
30253
Bitcoin:
$66.082
% 0.00
BTC Dominance:
%54.0
% 0.46
Market Cap:
$2.41 T
% 1.30
Fear & Greed:
74 / 100
Bitcoin:
$ 66.082
BTC Dominance:
% 54.0
Market Cap:
$2.41 T

Airdropped Crypto Crashes: Friend.tech’s FRIEND Token Takes a Nosedive

Airdrop

FRIEND token, the native cryptocurrency of the Web3 social media platform Friend.tech, has experienced a dramatic price plunge following its recent airdrop.

Launched just days ago, FRIEND initially soared to a high of $169 on decentralized exchanges before plummeting to $3.26.

Airdrop Recipient Triggers Sell-Off

A key factor in the token’s decline is believed to be the actions of the largest airdrop recipient, who cashed out their holdings within hours of receiving them. This triggered a wave of investor panic, leading to a further drop in FRIEND’s price to $1.32.

Community Concerns Mount

Crypto enthusiasts have taken to social media to criticize Friend.tech’s team for failing to provide adequate liquidity for the project. The lack of liquidity, they argue, has made it easy for large holders to manipulate the price, leading to the current downward spiral.

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