ESPORTS Token Price Plunges 92% After Large Token Dump

The cryptocurrency ESPORTS has experienced a significant price drop of 92% after a large token dump by project wallets.

The sudden sale of 196 million tokens worth $13.65 million on the BSC led to a sharp decline in the token's value, with prices now sitting at $0.06. This event is seen as a primary driver of the latest crypto market crash leg, and traders must factor this concentrated supply pressure into their price prediction models.

According to technical analysis, the token is currently trading inside a bearish trend, with the EMA50 at $0.65 acting as major resistance and the MACD death cross at -0.09 keeping sellers in control.