Event:
Only today, April 1, we saw an extremely unexpected dump of the largest memecoin $ACT, it fell by 50% in a matter of minutes. The capitalization of this token is $90.3 million, as this project has very large community of investors in the aspect of ordinary people. The community was upset with such massive dump.
What could have caused such massive downfall?
Our specialists cannot determine the exact reason for this collapse, we can only assume that most likely the collapse was due to some manipulations on the token team side. A rather large memecoin, which was listed on many exchanges and pleased the community of its buyers, was in the top 350 CoinMarketCap by capitalization.
What are the next steps of the $ACT team?
Up to now, the token team is yet to respond to the incident, further panicking $ACT holders. Its next move is uncertain, and this means that as long as the memecoin team has not made a statement on this issue, it will continue on its dumping path.
Analytics for holders:
Despite the sad situation, our analysts advise to continue holding this token and wait for an explanation from the team, because only it can save the whole situation. We would also like to note that several more cases of dumps of large memecoins issued on exchanges have been recorded.
This article is not financial advice!
