Such a drop is still very little compared to some other coins, almost all cryptocurrencies drop in price. This morning HOTDOG a token of DEFI farming has been discounted 5000% from $ 500 to $ 1. I have noticed a lot of scams lately from DEFI projects. I urge everyone to be careful.
It's still a lot. it was also going down from $12 to the $6 just in a day. I can't even call that as a small drop when it's more than 50% drop in a day.
HOTDOG was the same as walnut, Noodle, and many more scam fake defi.
There was another coin called yuno that has already dropped from $7 as ATH to the 20 cents in less than a week. This crazy trend will end very soon with the come of scam defi to the market and investors will be feeling tired with it.