AEVO price tanks due to massive supply unlocking which team and key investors sold.
The price crashed by over 20% in the last hour alone and by over 50% is the last month.
Community leaders who provided support are now under fire from their followers.
The price of AEVO tanked hard today and holders are losing faith in the stability and intent of the project. In detail, the Aevo team unlocked 82% of the token supply followed by the team and the project’s key investors cashing out millions worth of AEVO today.
$Aevo team and investors cashed out million $ today by unlocking 82% of supply.Aevo team now holds $215 million in $Aevo ready to sell anytime they wish.Aevo investors received $172 in $Aevo ready for selling. Retail investors got fucked & Big exchanges like #Binance… pic.twitter.com/gF9ZlylbPi
— Marius.capital (@AltbriMarius) May 15, 2024
Specifically, the Aevo team now holds $125 million in AEVO which they will likely sell at any moment. Similarly, the key investors got $172 in AEVO also ready to sell. The Aevo community is hurt and feeling betrayed.
In particular, it seems that retail investors got the worst of the brunt and the community blames big exchanges like Binance for allowing this high unlocking move to take place. The post above marks this event as a sign of the greed that’s corrupting exchanges, developers, and VCs. It marks that projects such as this one are not here for tech but rather to hurt retail investors. Most holders are in a loss of over 70%.
Meanwhile, another popular face in the crypto space also speaks out against the reckless and seemingly selfish move from Aevo. The renowned Doctor Profit, known for his accurate prediction so far, called Aevo a miserable project on their latest announcement. He tells the project not to expect any new investors to join their project.
Absolute miserable project. Don’t expect any new investors jumping on your project in future.
— Doctor Profit (@DrProfitCrypto) May 15, 2024
Responses to both the posts above are filled with rage towards the project calling it a scam. However, the community’s rage is also directed to both Doctor Profit and Marius as well. It seems in the earlier days of the project, both analysts offered support for their project thereby exposing their trusted followers to trust AEVO.
Now, these trusted community members are calling out both persons to stand by what they said and own up to ‘shilling’ the project which now many identify as a scam. In fact, Doctor Profit specifically, admitted to having bought AEVO and predicted the asset to go up to $30.
Their communities are outraged and demand retribution. Some at least expected their advisors to warn them. Although, based on their own outrage and disappointment it seems even analysts tend to make errors and this time poor judgement has cost them their investments as well as their followers.
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The post AEVO Price Tanks Hard as Team Unlocks 82% of Supply and Cash Out Millions, AEVO Holders Suffer Damages, Crypto Leaders Humiliated appeared first on Crypto News Land.
