The recently hyped memecoin BALD plunges by over 90% after the developer pulls liquidity. BALD attracted millions in capital to the Base blockchain after massive hype in less than 24 hours.
According to Wu Blockchain, “The Bald team address (0xccFa0530B9d52f970d1A2dAEa670ce58E4176389) removed most of the liquidity in LeetSwap, withdrew 7,000 ETH and 142 million BALD at the largest time; the price of BALD fell sharply, falling as low as $0.015, a short-term drop of more than 84%.”
Due to this liquidity pull the price of the BALD token plunged from 9 cents to 1 cents. However, many traders took the opportunity to buy BALD in dip and the price recovered to 4 cents.
On Sunday the price of the BALD token increased by 30,000x in 24 hours and the market value exceeded 70 million US dollars.
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