TST tokens experienced a dramatic decline in trading hours in Asia today. Prices have dropped by more than 68%, reaching a new all-time low (ATL).
This decline follows the pattern of volatile price action in TST. Since its launch, TST has experienced massive spikes and a sharp decline.
TST token prices drop to an all-time low
In a recent post about X (formerly Twitter), Wu Blockchain highlighted that TST had fallen from $0.04960 to $0.01547 within minutes. The latter marked a new record low for tokens.
“TST’s open interest has declined by more than 35% over the last 24 hours, while Binance has seen a decline of more than 40%,” Wu Blockchain revealed.
After the lows, prices saw a modest recovery. At the time of writing, TST’s trading price was $0.027, down 33.4% over the past day. Price Dip has wiped out the market value of altcoins by millions of dollars.
The market capitalization went from $44.7 million to $23.4 million, then to about $25 million in coverage time. According to Coingecko, this shift has overtaken TST from its position as the fifth largest 4.MEME ecosystem coin, with CZ dogs (broccoli) overtaking it.
Nevertheless, TST maintained its lead as the largest token by volume in the 4.MEME ecosystem. Coingecko’s data showed that volumes surged to nearly $130 million, representing an increase of around 1,300% over the past day, with 36.5% of the volume coming from Binance. This indicates an increase in trading activity within the market.
In particular, TST is not a stranger to sudden price surges and drops. Initially, it was deployed as a test token for the BNB chain as part of a tutorial on launching Meme Coins in 4.meme.
The tokens garnered a lot of attention following a social media mention by former Binance CEO Changpeng Zhao (CZ) in early February, causing prices to skyrocket. Nevertheless, it quickly drained most of its profits.
Later that month, a decentralized exchange (DEX) transaction of CZ using TST triggered a 50% price pump. Again, the rise was unsustainable. In May, Beincrypto reported that the price crashed 40% after a massive sale. Today’s collapse appears to follow a similar pattern of volatility.
Meanwhile, the recession occurs amid a wider slowdown in the 4.MEME ecosystem. Data from Dune Analytics has revealed that daily fees have been consistently declining over the past few months.
Similar downtrends are also prominent in newly created tokens and the number of active users, reflecting a decline in user interest.
The market value of TST token posts will drop by 68%. This is why it first appeared in Beincrypto.
