TROVE Token Crashes 95% Minutes After Launch

[madmax]

Investor frustration intensified after Trove’s newly launched TROVE token collapsed more than 95% within ten minutes of trading, falling to roughly $0.0008 and slashing its market capitalization from $20 million to under $1 million. Data from DEXScreener highlighted the severity of the post-launch selloff, fueling accusations of mismanagement across social media.

Further analysis by Bubblemaps showed that a single entity received around 12% of the token supply via 80 fresh wallets funded through ChangeHero. While Bubblemaps found no direct evidence linking those wallets to the Trove team, the concentration raised additional concerns among traders already shaken by the pivot.

[cryptobro]

every cycle theres a new “we had no choice” story and it never ends well