Here’s why RabBitcoin, Catizen, and Dogs tokens have plunged
Most highly hyped Telegram tokens have suffered a harsh reversal, a few weeks after their airdrops and exchange listings.
RabBitcoin (RBTC), the token for the Rocky Rabbit ecosystem, has plunged to $0.0000037, down from its September high of $0.000007. Its market cap has retreated from over $63 million to $47 million. Catizen, a popular cat-themed game, has crashed from $1.1974 to $0.4, bringing its valuation to $84 million.
Meanwhile, Dogs, another popular Telegram cryptocurrency, has dropped from $0.0011 in September to $0.00065.
Other tokens like Hamster Kombat and Notcoin have also struggled, with their sell-offs costing holders billions of dollars. Toncoin, which powers the TON Blockchain, has also entered a deep bear market, falling by over 43% from its highest level this year.
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