Pike Finance's TGE Disappointment: Initial Liquidity of Only $10,000 Leads to 90% Price Crash

On October 1, BlockBeats reported that early investors in Pike Finance expressed frustration following the recent token generation event (TGE). The team provided a mere $10,000 in initial liquidity for the Aerodrome decentralized trading platform on Base.

This insufficient liquidity led to a rapid decline in the token’s price, which plummeted to around $0.0035, representing aa staggering drop of approximately 90%, as noted by DEXScreener data.

Pike Finance had raised nearly $6.5 million during a token pre-sale in March 2024, with participants buying tokens at prices ranging from $0.0280 to $0.0374. The dramatic price drop has left many investors concerned about the project's future.