Magic Eden Token Plummets 55% After Airdrop Mishaps and App Issues
Magic Eden’s native token (ME) saw a dramatic decline following its airdrop. Initially, the token skyrocketed to $17 but quickly faced adversity, plummeting 67% due to unforeseen technical glitches and widespread user frustrations. Investors reported a myriad of issues with the platform’s app, which led to the rapid decline in the token’s market value. The fallout saw its market capitalization shrink from an impressive level, stirring up anxiety and disappointment among community members. Market participants urge the Magic Eden team to address these concerns swiftly to restore confidence.
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