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, causing the sell-off. Exchange inflows have increased,indicating profit-taking.
It’s typical for new tokens to spike initially and then fall as excitement wanes. For instance, the Official Trump (TRUMP) meme coin saw a similar pattern earlier this year.
Lagrange’s social media buzz has also cooled down. Its social dominance dropped from 1.4% to 0.97%, showing reduced interest. The broader crypto market’s downturn, with Bitcoin near $100,000, added to the pressure.
Lagrange aims to be a leader in AI,using zero-knowledge proofs for secure decentralized apps. Its ZK Prover Network and ZK Coprocessor are key products.
Technically, the LA token formed a double-top pattern at $1.8053, a bearish signal. This suggests the price may continue to fall, possibly dropping below $1 as investors keep selling.
