Lagrange Token Faces Sharp Decline After Initial Surge
Lagrange (LA) token experienced a dramatic drop, falling to $1.1345. This represents a 37% decrease from its peak this week. The token’s market cap now stands at $220 million.
The decline follows a massive 500% price surge after its airdrop and listing on major exchanges like Coinbase, Binance, and others. Early investors are likely cashing out thier profits, leading to increased sell pressure.
Exchange inflows have risen, indicating profit-taking.
Its common for new tokens to experience volatility. As an example, the Official Trump (TRUMP) meme coin saw a similar pattern earlier this year.
Lagrange’s social media presence has also declined,reducing the fear of missing out among traders. The crypto market’s overall downturn this week, with Bitcoin near $100,000, has added to the pressure.
Lagrange aims to revolutionize the AI industry using zero-knowledge proofs for secure decentralized applications. Its ZK Prover Network and ZK Coprocessor are key products.
Interest in Lagrange on social media has waned, further contributing to the price drop. The crypto market’s overall decline this week,with Bitcoin near $100,000,has also impacted lagrange.
Technically, the LA token formed a double-top pattern at $1.8053, a bearish signal. This suggests the price may continue to fall, possibly below $1.
For more insights, check the LA token price chart.
