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    Home»Markets»PLUME Holders Proceed to Dump Tokens After Co-Founder's Dying
    PLUME Holders Proceed to Dump Tokens After Co-Founder's Dying
    Markets

    PLUME Holders Proceed to Dump Tokens After Co-Founder's Dying

    By Crypto EditorMay 30, 2025No Comments3 Mins Read
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    In a tragic incidence, Eugene Shen, co-founder of the RWA undertaking Plume, reportedly handed away this week. Nevertheless, this announcement prompted a significant PLUME token dump, splitting the neighborhood with acrimonious accusations.

    Some skeptics puzzled if Plume was a rip-off or if this demise announcement was some kind of hoax. Others deplored these accusations and token dumps, professing assist for the corporate. Regardless, it has been a weird market response to an unlucky, tragic occasion.

    Huge PLUME Token Dumps

    Plume, an RWA onboarding blockchain agency, has attracted appreciable consideration since YZi Labs invested in it this March. Over the past week, the corporate’s PLUME asset fell by 18%, and customers started reporting a token dump right now.

    The agency introduced the demise of Plume co-founder Eugene Shen, presumably establishing a cause for this worth motion:

    It’s with heavy hearts that we share the information of a tragic loss inside our firm. Earlier this week, we misplaced our cofounder and expensive buddy, Eugene. We’re in shock. Eugene was good, deeply curious, and introduced a lot expertise and coronary heart to all the things he did. Our ideas are…

    — Plume – RWAfi Chain (@plumenetwork) Could 29, 2025

    Plume’s announcement didn’t specify a date or reason for Shen’s demise, solely that it passed off final week. Nonetheless, this instantly clarified the PLUME token dump for some customers, a lot of whom strongly condemned traders’ conduct.

    Though PLUME had already been falling for a number of days, it skilled an extra 7.4% crash and a 145% enhance in buying and selling quantity right now. Presumably, Shen’s demise triggered right now’s worth actions.

    PLUME Holders Proceed to Dump Tokens After Co-Founder's Dying
    PLUME Buying and selling Quantity and Value Efficiency. Supply: CoinMarketCap

    Nevertheless, alternate narratives additionally started circulating, even when they remained a minority place. Why did the value drop start days in the past?

    It seems that a number of token holders are calling PLUME a rip-off token and the co-founder’s demise a hoax. But, these claims don’t have any proof and present a moderately unsettling show of public empathy.

    Even when this was not a preferred place, this jarring cynicism nonetheless shocked the crypto neighborhood. Positive, crypto scams are rampant proper now, however would PLUME actually faux somebody’s demise to dump tokens?

    Defenders instantly started noting all Plume’s main traders, claiming that the corporate has a transparent historical past and market presence.

    This weird incident solely highlights a moderately hidden ugliness within the crypto neighborhood. Maybe MANTRA’s fall broken investor confidence for your complete RWA market, or possibly customers are simply rising uninterested in scams.

    It’s unhealthy sufficient that PLUME customers dumped their tokens after a crew member’s demise, but it surely’s way more regarding that some folks suppose it’s all a rip-off.

    Disclaimer

    In adherence to the Belief Venture pointers, BeInCrypto is dedicated to unbiased, clear reporting. This information article goals to supply correct, well timed info. Nevertheless, readers are suggested to confirm details independently and seek the advice of with knowledgeable earlier than making any choices based mostly on this content material. Please word that our Phrases and Situations, Privateness Coverage, and Disclaimers have been up to date.





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