LAB defied serious insider-dealing and tokenomics allegations to hit a new all-time high of $16.23 on June 1, pushing its year-to-date gains past 12,000%.
Key Takeaways:
On June 1, AI trading token LAB defied insider manipulation allegations to hit an all-time high of $16.23.LAB’s explosive rise triggered over $19 million in liquidations and a brief top-20 spot on CoinGecko.ZachXBT warns investors of extreme volatility ahead of an upcoming LAB token unlock by concentrated holders.On June 1, LAB, the token of an AI trading terminal project, jumped to a new all-time high of $16.23, a more than 100% gain from its price of $7.31 about 24 hours earlier. The spike pushed its weekly gains above 250% and over 580% since May 1, when it traded around $2.15. The token, which briefly pushed LAB’s aggregate market capitalization well past the $6 billion mark, has continued to surge despite serious concerns about the project’s tokenomics and insider-dealing allegations.
“Yes, it seems like last scam pump for LAB from MM before all of the hidden supply unlocks from OTC / private sale. Always recommended people do not touch these coins,” ZachXBT said in reply to an X user asking about the token.
Another investigative platform on X characterized LAB’s surge to a fresh milestone on Monday as “a game of chicken with insiders.” The platform also repeated warnings that LAB is scheduled for a token unlock, which invariably leads to value dilution.
