- Crypto analyst reveals that tokens listed on Binance in the last 6 months have recorded massive declines.
- $PEPE, $FLOKI, and $SUI form part of the highest losers, with each token dropping at least 50%.
- $WLD, $PENDLE and $ARKM also recorded substantial losses.
Tokens recently listed on crypto exchange giant Binance in the past 6 months have recorded losses within the last 6 months. Tweeting about the losses, crypto analyst DefiIgnas listed Worldcoin, Pendle, and Arkham, among other listed tokens that had seen massive declines in their token prices.
Per the report, $PEPE is the biggest loser, with over 60% lost in the last 6 months. The significant decline is, however, surprising, considering that Pepe Coin rallied in late June and early July, with the token adding massive gains.
However, since that short-lived bull run, the coin has struggled to hit a sustained run of positive performances. Data from CoinMarketCap show that the token had lost 5.48% and seen its trade volume decrease by 44% in the past 24 hours.
The SUI network native token $SUI has also suffered similar losses in the past 6 months. The Layer 1 blockchain and smart contract platform had launched its mainnet in May of this year. However, the excitement and hype that accompanied the launch had since died away, sending the token price on a sloppy decline.
$FLOKI also had one of the biggest declines, shedding over 50% since the start of the year. The community run meme coin had a wonderful start to the year but has since lost most of the gains it made since its bull run.
While so many factors could have contributed to their decline, one of the primary reasons could have been a drop in hype and interest. Likewise, reduced community engagements could have also contributed to the significant drops.
Highly anticipated $WLD has also lost 8% since its launch some months ago. The project co-founded by ChatGPT founder Sam Altman garnered a lot of social attention before and after its launch. However, that excitement had since died down.
Likewise, $PENDLE, which surged 50% after it got listed on Binance, has dropped 18%. $ARKM also lost 25%, while $MAV lost a whopping 44%
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