The post Meme Tokens’ Dramatic Plunge Sparks Speculation in Crypto Market – Coincu appeared on BitcoinEthereumNews.com.

Key Points: Meme tokens plummet, community suspects Wintermute bot malfunction. Wintermute CEO denies involvement, hints at market dynamics. Binance’s trading parameters might have triggered the tokens’ crash. Meme tokens suffered a significant price crash on April 1, 2025, leading to widespread community speculation. Notably, tokens like ACT plummeted over 49% on platforms like Binance. The unexpected collapse of meme token prices sparked investigations into underlying causes. Community members quickly speculated a malfunction of Wintermute’s trading bot, a claim denied by Wintermute’s founder and CEO, Evgeny Gaevoy. Meme Tokens Face Over 49% Decline Amid Market Turmoil The crash involving multiple meme tokens on Binance transpired rapidly, with ACT experiencing the harshest decline. This event quickly drew speculation from the crypto community, primarily focusing on a potential trading bot malfunction by Wintermute. However, Evgeny Gaevoy, Wintermute’s CEO, refuted these claims, denying any involvement by their trading systems and expressing curiosity about the postmortem analysis. “Not us, for what it’s worth! [I’m] also curious about that postmortem. If I were to guess, we reacted post move, arbitraged the Automated Market Maker (AMM) Pool,” said Evgeny Gaevoy, Founder and CEO of Wintermute. Market reactions have been swift, and industry voices, such as Yi He from Binance, are keenly observing developments. As markets stabilize temporarily, emphasis falls on ensuring better understanding and resilience against such market anomalies in the future. Future Regulations and Safeguards Considered Post-Crash Did you know? The ACT token’s drastic price drop of over 49% in minutes is reminiscent of past cryptocurrency market fluctuations, emphasizing the volatile nature of meme-related assets. As of April 1, 2025, according to CoinMarketCap, ACT trades at $0.08, boasting a market cap of $103.36 million and a 24-hour trading volume spike of 154.55%, reaching $2.88 million. Despite its recent 32.35% 24-hour increase, ACT’s 7-day and 90-day trends…

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Filed under: News - @ April 1, 2025 11:24 pm