🚨 Altcoin Plummets 97%: Scam Fears Trigger Mass Exodus

Another 'stable' asset bites the dust—this time with a near-total wipeout. Traders got the rug pulled so hard, even Wall Street bankers are wincing.

### The crash heard 'round Crypto Twitter

Panic selling erupted after blockchain sleuths uncovered suspicious wallet movements. The usual red flags: anonymous dev team, vague whitepaper promises, and of course those magic 'guaranteed returns.'

### 97% drop in record time

The freefall shattered previous 'speedrun' records—faster than a DeFi exploit, quicker than a celebrity NFT dump. Remaining holders are now debating whether to HODL or pray for a miracle.

### Same story, different cycle

Market veterans shrug while newbies learn the hard way: when something smells like a Ponzi and quacks like a Ponzi... it's probably not the next Bitcoin. Meanwhile, ETH gas fees spike from all the desperate trading.

The token is now priced at $0.004807, with trading volume down from over $160 million to $6.85 million. Its market cap stands at $4.3 million.

Analyst Stygian alleged that ALT was created by crypto Beast, which is also accused of orchestrating the $ALPHA token scam. Skynet Insights backed this claim, revealing that Crypto Beast managed to swindle over $20 million from its followers through a series of rug pulls. These shocking details came to light just as ALT was hitting its peak in trading volume.

Meet CryptoBeast, the biggest scammer in crypto Twitter

He rugged $ALPHA and scammed 640K of his fans for $20M

I spent 15h exposing his scam scheme and was shocked

Here's how CryptoBeast with Crypto .com robbed you👇🧵 pic.twitter.com/qn8RztdcIb

Volume Spike Preceded Sharp Collapse

Before July 14, ALT saw a clear spike in trading activity, but it didn’t hold up for long. Volumes crashed by over 95%, showing that most traders pulled out, and confidence took a hit.

While the overall crypto market gained 3.64% in the same 24-hour window, and memecoins jumped 22% on average, ALT stayed flat with no weekly gains. That’s raised some concern among investors.

Despite the crash of ALT, Bitcoin saw a surge, jumping to $122,197.10 with a 3.73% increase and trading volume doubling to 122%. ethereum also broke the $3,000 barrier for the first time since January. All in all, the total market cap skyrocketed to $3.81 trillion.

Also Read: Kinto Token Price Crashes 90%: Investors Accuse Team of Rugpull