FRIEND.TECH token price plunges to $1.96, analysis points to liquidity issues as the main cause.

After the release of the V2 version and airdrop by FRIEND.TECH, its token $FRIEND traded at $169 on the BASE chain, then quickly dropped to $2.5, and briefly fell below $2, currently priced at $1.96. Hitesh Malviya, the founder of the crypto analysis platform DYOR, believes that this sharp price drop is mainly due to liquidity issues, similar to RENZO's situation last week. Additionally, Malviya points out that most users received airdrops far below expectations, leading to many retail investors not claiming the airdrop as it was less than $200.