The price of Giggle (GIGGLE), a token recently mentioned by Binance founder Changpeng Zhao (CZ), experienced a sharp surge followed by a significant drop within the last 24 hours.
According to market data, GIGGLE briefly climbed above the $110 level before plunging below $70. It is currently trading at $66.43, marking a loss of over 25% of its value in just one day.
This sudden decline appears to be linked to a recent statement made by CZ. He clarified that “The Giggle token has not been officially issued by Giggle Academy,” emphasizing that the project has no direct affiliation with the Academy.
Additionally, CZ addressed reports claiming that Binance would donate 50% of Giggle Fund trading fees to charity. While he expressed support for these charitable donations, he admitted he was unaware of the token’s issuer. Zhao also mentioned that he was not surprised by Binance’s decision to donate a portion of the trading fees.
Following CZ’s mention of GIGGLE, Binance recently decided to list this altcoin, which contributed to its initial surge.
*This article is for informational purposes only and does not constitute investment advice.*
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