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Friend.tech's Token Value Plummets 98%


Decentralized social media platform Friend.tech saw its native cryptocurrency token's value plummet nearly 98% to below $2 after initially trading as high as $169 on its debut day. The crash followed an updated platform release and an unsolicited token airdrop, sparking questions about the token's sustainability and tokenomics.


Crypto research group Delphi's Rinko noted the lack of clarity around Friend.tech's economic model, possibly contributing to the drop. The platform's growth has been partially driven by trading bots, adding to the market volatility.


Cryptocurrency markets are known for their high volatility and vulnerability to speculative bubbles. Retail investors are urged to proceed with caution and avoid making decisions based solely on social media hype. The rapid decline of Friend.tech's token underscores the importance of informed decision-making in navigating the crypto market.

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