The price of Giggle (GIGGLE), which Binance founder CZ recently mentioned and caused a sudden surge in price, has experienced a sharp drop in the last 24 hours.
According to data, the token briefly surpassed the $110 level before falling below $70. Currently trading at $66.43, GIGGLE has lost over 25% of its value in the last 24 hours.
The decline is thought to be related to a recent statement from Binance founder Changpeng Zhao. CZ stated, “The Giggle token has not been officially issued by Giggle Academy,” indicating that the project has no direct affiliation with them.
CZ also addressed reports that Binance would donate 50% of Giggle Fund trading fees to charity, saying he was pleased with these donations but didn’t know who issued the token. Zhao said he wasn’t surprised by Binance’s donation of the trading fees.
Binance recently decided to list this altcoin after CZ mentioned GIGGLE.
*This is not investment advice.