The LAB token dropped from $24.3 to around $5, with bullish traders rushing to buy high, highlighting the risks of altcoin speculation again.

The LAB token initially surged to a high of $24.3 by riding the AI hype, but now the price has fallen back to $6.9, a decline of over 70%, with many investors who entered at high levels suffering losses. The root cause of this large drop lies in the highly concentrated holdings, with project teams and major investors controlling over 90% of the circulating supply. They initially boosted the price through hype and concept promotion to attract retail investors to chase the high, then collectively sold off to cash out — a typical pump-and-dump scheme.

Coupled with the ongoing weakness of the overall crypto market, the decline of mainstream coins dragged down smaller tokens, and LAB lacked real business support, relying solely on hype and capital to maintain its valuation. As the hot topic faded, buying interest quickly dried up, and the price repeatedly broke below support levels. After on-chain influencers exposed the project team manipulating the market, panic selling intensified, further accelerating the price decline. The pattern closely $RAVE resembles the previous Rave trend.