LAB token crashes 21% amid early investor selling

The LAB token experienced a price crash of more than 21% within a 24-hour period, accompanied by a 278% increase in selling pressure. This decline follows the opening of an airdrop claim window on August 14, which allowed early investors to begin selling their tokens.

This distribution event has significantly increased the circulating supply. Early investor profits reportedly plummeted from approximately $977.35 million to $6 million between July 4 and August 14. Furthermore, investors are not scheduled to receive their full presale allocations until 2027, contributing to investor disappointment.

The crash occurs amid broader weakness in the altcoin market and follows allegations raised by ZachXBT. Technical analysis shows the token has fallen below the $0.10 support level and is currently trading around $0.08, representing a decline of more than 99.67% from its peak.