LAB Token Plummets 70% in Hours Amid Market Manipulation Concerns

The cryptocurrency market has been rocked by another flash crash, this time affecting the LAB token. The token plummeted by around 70% from its all-time high in a matter of hours, leaving traders questioning the legitimacy of the move.

According to CoinGecko data, LAB traded within a 24-hour range between $8.29 and $27.30, with the upper level marked as a new all-time high on June 2. The sudden drop has raised concerns about market manipulation and supply control allegations.

The crash has also highlighted the risks associated with low-float tokens, which can be vulnerable to price swings due to their limited liquidity. In this case, the LAB token's rapid ascent was followed by a violent selloff, which has left traders worried about the potential for further declines.