FriendTech's $FRIEND Plunges Over 90% to $0.25 Amid Launch Issues

May 3, 2024, 11:14 AM

FriendTech's launch of its new cryptocurrency, $FRIEND, faced significant challenges, including a dramatic price collapse and technical issues. The token, initially trading at high values, plummeted over 90% shortly after its release, with prices dropping to as low as $0.25. Key issues included a lack of liquidity, as the team added minimal ETH liquidity, and operational problems such as non-functional sell buttons and delayed token claims. Despite these issues, the launch saw a high trading volume on BunnySwap. The situation highlights the volatile nature of new cryptocurrency launches and the critical importance of technical stability and user trust.