Sonic Airdrop Goes Live—So Why Did the S Token Price Nosedive? The Shocking Reasons

Free tokens raining from the sky—what could go wrong? The Sonic airdrop hit wallets today, but traders got a brutal lesson in crypto economics as S Token prices cratered.

Here's why the hype backfired spectacularly:

1. Dumpers gonna dump: Early claimants immediately flipped their 'free' tokens, flooding the market with sell pressure. Classic 'buy the rumor, sell the news' behavior—except this time, everyone sold.

2. Liquidity mirage: Thin order books meant even modest sell orders triggered cascading liquidations. Some degenerate probably got rekt trying to catch the falling knife.

3. VCs cashing out: Whales—sorry, 'early investors'—reportedly dumped seven figures worth of tokens the second unlocks hit. But don't worry, they'll tweet 'HODL' while their wallets empty.

Silver lining? The bloodbath creates prime accumulation zones for diamond hands. Or so the bagholders tell themselves between sobs.

Remember kids: in crypto, 'free money' usually means you're the product being sold. Now if you'll excuse us, we're off to short the next hyped airdrop.