Yeah I noticed that too. Feels like a classic case of early unlocks or insiders exiting fast, probably farmed tokens from some early event or pre-market round. That + the general market not really having the patience for long-term AI plays right now.
I doubt it’s the team dumping directly (though you never know), but it’s probably early hands taking profit while there’s still some liquidity. Until there’s real demand or usage, I’m not sure the price action will hold up, regardless I bought a tiny bag on BG hopefully am safe
99.2% dump is very alarming, only the project deemed dead suffered from such a dump, there were no reports or announcements from the team, and this makes it more alarming, I could invest in a project with good potential if its only 70% or less dumped, we can speculate that whales are making early profit.
Suppose the team remains committed to continuing the project. In that case, they should address the issue and reassure the community that they are focused on the project’s continuity, with the dump being a temporary measure. They may also allocate funds to repurchase the tokens.