- Humanity Protocol, Audiera, and Siren tokens have crashed hard recently.
- Their plunge is a sign that this was a pump-and-dump scheme.
- SKYAI, a mysterious token could be the next to plunge.
Humanity Protocol (H), Siren (SIREN), and Audiera (BEAT) tokens have suffered major crashes this month, erasing millions of dollars in value, and raising questions on whether the surging SKYAI token will be next.
Audiera, Humanity Protocol, and Siren Prices Crashed Recently
Audiera token crashed to $2.93 on Tuesday, down by over 74% from its highest point this month, a decline that BanklessTimes predicted. Siren price has also plunged to $0.100, down by over 98% from its highest level this year.
Humanity Protocol token has been highly volatile. It initially surged to a record high of $0.86 earlier this month, and then plunged by over 90% within a day. After that, as BanklessTimes analyst warned here, the coin rebounded to $0.8490, now a dead-cat bounce.
The initial H token crash was triggered by a major hacking event. North Korean hackers accessed the private keys of one of the insiders and then withdrew over $30 million. They also started unlimited minting of the H token on the BSC Chain.
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A closer look at the three tokens shows some similarities. They are often thinly traded in the spot and futures markets. Notably, these coins often don’t even suffer major liquidation events when they plunge.
Also, they are mysterious tokens that came out of nowhere and surged within a short period. They also claim to solve some real-world problems, especially in key areas. Audiera claims that its platform uses AI in the entertainment industry, while Humanity is in the human verification industry. Siren is also in the AI industry.
Is the SKYAI Crypto Token The Next Coin to Crash?
A closer look at the crypto market shows that SKYAI is another token that shares similar characteristics. Like the three coins, it came out of nowhere and has achieved some major moves. For example, it now trades at $0.42, up by 220% from its lowest point this month.
According to CoinMarketCap, SKYAI jumped by over 30% in the last 24 hours. Its volume stood at just $34 million, giving it a volume-to-market cap of just 3.0%. Its market capitalization has jumped to over $421 million.
This surge occurred even without a catalyst, such as an exchange listing or a major partnership. A closer look at the volume data shows that most of it was traded on PancakeSwap, a decentralized exchange (DEX). 16% of the volume was in Gate.
Another key data point to watch is its liquidations. In theory, whenever a crypto surges, one would expect its liquidations to rise as the short squeeze intensifies. In this case, however, the total liquidation today was less than $60k.
Therefore, while it is hard to predict, the token is likely to crash in the near term, as Humanity, Audiera, and Siren did. SKYAI has had a similar crash before. In May, it crashed by over 84% from its all-time high, and this rebound may be a dead-cat bounce.
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