$ACT has launched an investigation after its token skilled a pointy value drop on Binance.
In a press release on X, the ACT (ACT) workforce assured its group that they’re actively addressing the difficulty in collaboration with related events and growing a response plan alongside trusted companions.
$ACT, also referred to as “The AI Prophecy,” is a Solana (SOL) based mostly memecoin that has garnered consideration for its distinctive method to integrating synthetic intelligence inside a decentralized group framework.
Launched on October 19, 2024, the venture goals to democratize AI data, making it accessible to a broader viewers.
The platform facilitates interactions between customers and superior AI chatbots inside a dynamic atmosphere, encouraging collaborative exchanges and discussions on varied subjects, together with AI ethics and growth.
A ‘weird dump’
The decline comes as a part of a broader development, with a number of altcoins dropping between 20% and 50% on Binance spot buying and selling pairs.
A sudden drop in value like this may occur for a number of causes, together with market-wide sell-offs, massive token holders cashing out, or points associated to liquidity—the quantity of tokens obtainable for buying and selling at a given time.
$ACT initially surged over 1,700% after being listed on Binance and Crypto.com, boosting its market cap to $422 million.
The venture has seen volatility, particularly after its founder, often known as Amp, bought a big portion of his holdings and stepped away. This transition left $ACT as a community-driven venture.
The present investigation goals to find out whether or not inner or exterior elements contributed to the most recent value motion. The workforce has assured holders that they’ll present updates as they collect extra info.