- Ten wallets created days ago withdrew 100M LAB (~$480M) from Bitget in 12h.
- Labs Group token hit an all-time high of $6.66 on May 11 before a sharp reversal.
- 12-hour short liquidations hit $14.52M as the pump exhausted at the top.
- With the channel broken and RSI fading, $2.54 is the next technical floor.
LAB coin price has fallen roughly 30% from the all-time high of $6.66, set on May 11, after on-chain analysts flagged the transfer of 100 million tokens, worth approximately $480 million, from Bitget to 10 wallets created only days prior.
That single move accounts for 32.26% of the 309.95 million tokens in circulating supply, immediately reframing the prior week’s 186.87% rally as a distribution setup rather than organic accumulation. Labs Group coin one-month gain of 991.40% had already drawn scrutiny before this transfer landed.
On-chain investigator ZachXBT identified Shawn Liu as the executive enabling these operations inside Bitget Exchange, with Gracy Chen as the exchange’s public-facing figure.
ZachXBT described the arrangement as a “Chinese CEX cartel” that has run without accountability for years, and drew a direct structural comparison to the $RAVE exit liquidity play, citing similar gas patterns and wallet timing.
Team-linked addresses had already offloaded more than $63 million in LAB tokens ahead of the recent pump. At the time of writing, Bitget has issued no statement and has not executed any on-chain freezes.
LAB Coin Price Breaks Channel as RSI and OI Signal Weakness
On the 4H chart, LAB coin had been climbing within a defined rising channel before breaking above resistance at $5.16, briefly printing above $6.66, then rejecting back through the channel floor. LAB price is now at $4.69, below the prior breakout level, with a 24-hour range of $4.18 to $5.29.
RSI reads 52.97 against a signal line at 60.65, a crossed-down setup showing no recovery attempt. The 12-hour liquidation data is unambiguous, showing $14.52 million in shorts were cleared into the spike, against just $1.85 million in longs.
LAB price prediction scenarios pivot entirely on whether $4.18 holds; a clean break there opens a fast path to $2.54, the only meaningful structural level between here and $0.60. The Labs Group coin has no technical floor between those two points.
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