One of the sudden movements that attracted attention in the cryptocurrency market today was experienced in the SAHARA token belonging to the Sahara AI ecosystem.
According to Binance price data, SAHARA fell sharply to $0.0346 as of 6:24 PM (UTC38). At press time, the token was trading at $0.0384, representing a 24-hour loss of 54.17%. The project team has yet to officially comment on the decline.
Chart showing the decline in the SAHARA token.Sahara AI raised $43 million in a Series A round on August 14 last year, receiving support from prominent investors such as Polychain, YZi Labs, and Pantera Capital. This funding was seen as aligned with the project's goal of establishing a broad technology infrastructure focused on artificial intelligence.
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While various comments were shared within the community after the sharp decline, some community representatives who follow the project closely claimed that this decline was not due to the team's malicious intent.
According to supportive opinions, if the team had chosen to take profit as the initial target, the price would have fallen much earlier and much harder.
However, in the event of a hack or new revelations of malicious intent by developers, users should avoid the SAHARA token, at least for now.
The Sahara AI team has yet to release a statement regarding the sharp decline. The market is anticipating both a potential technical issue and an explanation for investor behavior.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/binance-listed-altcoin-suddenly-experiences-massive-dump-heres-what-we-know/
