Meme Token Plunge Sparks Speculation in Crypto Market

Meme token prices experienced a significant drop on April 1st, 2025, leading to widespread speculation within the crypto community. Notable among these tokens was ACT, which plummeted over 49% on platforms like Binance. This rapid price decline has sparked investigations into potential causes, with the immediate focus being on whether a trading bot malfunction by Wintermute played a role. While Wintermute’s CEO Evgeny Gaevoy denied any involvement from their systems, he expressed interest in analyzing post-crash data to understand how the market reacted.