A recent panic sale of LLJEFFY tokens was triggered by a false rumor about the death of Zerebro co-founder Jeffy Yu, leading to a sharp market reaction.
Panic Sell Event
The address Fh3kf...7LKJT sold off $258,000 worth of LLJEFFY tokens in 20 minutes. This action was prompted by a rumor regarding Jeffy Yu's death, resulting in a swift market reaction.
Impact of Rumors on the Market
The fake rumor about Jeffy Yu's death led to a 50% drop in token price. The sell-off triggered panic among other LLJEFFY holders, with one investor reporting a loss of about $93,000. Experts point to the high volatility of meme tokens and their vulnerability to rumors.
Lack of Official Comments
Despite active discussions in the community, there have been no official statements from Jeffy Yu or Zerebro. The removal of a GitHub record from Zerebro adds to the uncertainty, with no regulatory comments emerging, raising concerns over potential market manipulation through unfounded rumors.
This situation highlights the vulnerability of meme assets to rumors and the impact they have on market sentiment, resulting in significant financial losses for investors.
