#PEOPLEUSDT #PEOPLEtoken #PEOPLE/USDT

Here is why $PEOPLE will go down to 0.02 ranges

The recent surge in the price of PEOPLE, the governance token of ConstitutionDAO, can be attributed to a couple of factors. One of the key reasons is the introduction of a new governance token, called ‘We The People’ (WTP). This was offered as an option for the donors of ConstitutionDAO: they could either choose to be refunded in Ethereum (minus gas fees) or receive the WTP token without any gas fee, at the rate of 1 PEOPLE per WTP. This move likely led to an increased interest in holding or buying PEOPLE tokens from the secondary markets, in anticipation of obtaining WTP tokens later on .

Additionally, the sudden rise in PEOPLE’s price seems to be driven more by hype and speculation rather than solid fundamentals. Despite its significant price movement, the token has little to no practical use cases at present. This type of market behavior is often influenced by social media frenzy and can be temporary, with a potential for a sharp correction when the hype subsides .