STBL, once a paragon of stability, now tumbles like a moth in a storm, shedding 80% of its former glory. The founding team, accused of liquidating their fortunes, has left investors clutching their wallets tighter than a miser’s heart. 🦅💸
Amidst this chaos, the project unveils plans to mint 100 million USST and launch a repurchase program by October’s end. A valiant attempt to restore faith-or a desperate gambit? The market remains divided, teetering between hope and existential dread. 🤷♂️📉
Who Sold – and Why Did the Market React So Sharply?
STBL, that once-esteemed stablecoin token, has plummeted more than 80% in value since its launch. From a lofty $0.60 peak to the desolate $0.0797 abyss, it now clings to life at $0.11478, its market cap a paltry $58 million. A tale of hubris and hubbub. 🌪️
Bubblemaps, that digital oracle of on-chain truths, reveals five shadowy addresses offloading their STBL hoard for $17 million. Notably, these same sly foxes had previously raked in $10 million during the token’s launch. A double dip? Or a triple? 🦊💼
The crypto crowd whispers of “snipers”-algorithmic ninjas or insider traitors-orchestrating the carnage. One X user lamented: “These bastards sank my portfolio! But hey, at least I’ve got enough stablecoins to buy back the ashes. 🕯️🔥”
“I don’t like these snipers; they could be insiders or maybe not, but they’ve dragged my $STBL portfolio deep underwater. Anyway, luckily, the bastard is out, and I still have enough stablecoin outside to buy some more at the current bottom,” one trader wrote.
STBL’s CEO, Avtar Sehra, claims the sellers are “professional accounts,” citing Bubblemaps. Meanwhile, the team insists they’re blameless, boasting of “transparent treasuries” and unaltered vesting schedules. A Shakespearean farce of accountability. 🎭
“We’re focused on building the protocol and adoption with the community. Allocations/vesting are unchanged. Furthermore, any tokens vesting this quarter won’t be minted and will not enter circulation.” STBL shared.
Undeterred, STBL plans to mint 100 million USST by year’s end-a move some call “printing money to solve a money problem.” The repurchase program, they claim, will restore liquidity. A magician’s trick with no rabbit in the hat. 🎩🐇
Technical Analysis: Accumulation Zone or Dead-Cat Bounce?
Crypto analyst Michaël van de Poppe muses that STBL’s price action might signal an “accumulation phase,” a dance of buyers and sellers near $0.09-$0.10. He dares to hope for a rebound to $0.17-$0.20. Or perhaps it’s a “dead-cat bounce”-a last gasp of a corpse. 🐱💤
Van de Poppe warns: “A sustained uptrend requires volume and fresh capital.” Until then, STBL remains a tragicomedy-part phoenix, part ash. The future? A question mark in a storm. 🌀
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2025-10-20 14:07