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BALD Token Plunges 90% After Massive Hype

Published

1 year ago

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BALD Token Plunges 90% After Massive Hype

The recently hyped memecoin BALD plunges by over 90% after the developer pulls liquidity. BALD attracted millions in capital to the Base blockchain after massive hype in less than 24 hours.

According to Wu Blockchain, “The Bald team address (0xccFa0530B9d52f970d1A2dAEa670ce58E4176389) removed most of the liquidity in LeetSwap, withdrew 7,000 ETH and 142 million BALD at the largest time; the price of BALD fell sharply, falling as low as $0.015, a short-term drop of more than 84%.”

Due to this liquidity pull the price of the BALD token plunged from 9 cents to 1 cents. However, many traders took the opportunity to buy BALD in dip and the price recovered to 4 cents.

On Sunday the price of the BALD token increased by 30,000x in 24 hours and the market value exceeded 70 million US dollars.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

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Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.