#LAB This price action is starting to feel like a scripted pump session. 😳
On-chain data shows that the LAB team just dropped 100 million LAB from 10 wallets linked to
#Bitget , worth up to $480 million, accounting for over 32% of the circulating supply. Even crazier, the team wallet controls about 98% of the chips, leaving over 19,000 retail traders with just 2%. How are we supposed to play this?
On-chain sleuth ZachXBT came out swinging, calling out Bitget for letting such projects operate behind the scenes, and added a warning: "Only the insiders' funds are safe."
Moreover, LAB's trajectory mirrors that of the previously tanked RAVE: first, a wild pump, creating
#FOMO , then a significant chip distribution. LAB peaked at $6.63 and has already plummeted over 40% in a short time, with a ton of long positions getting liquidated.
We can't say for sure it's a scam yet, but something smells off. The scariest thing in crypto isn't the crash, but thinking you're catching the bottom when you're really just the bag holder for someone else's exit. 🚨