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AERGO Price Rollercoaster: Surging 10x to Plummeting 80% - What Happened Behind the Scenes?
Original Article Title: "A 10x Surge in a Week, an 80% Plunge in a Day – What Happened to AERGO?"
Original Article Author: Oliver, Mars Finance
In mid-April 2025, $AERGO caused a stir in the crypto market. Within a week, its price skyrocketed from $0.05 to $0.5, a 10x increase. However, just a day later, the price plummeted by 80% to around $0.1. This rollercoaster ride of a market turned investor sentiment from euphoria to anger, and Binance's data issue escalated the turmoil. What drove the frenzied surge of $AERGO, and what caused the collapse and the community's strong backlash? Let's peel back the layers and uncover the truth behind this storm.
Binance's "Operational Fog": From Delisting to Futures Craze
The story of $AERGO began with Binance's dramatic decision. Aergo is a hybrid blockchain project developed by the Korean company Blocko, which has long been under the radar and not widely recognized. On March 28, 2025, Binance announced the delisting of $AERGO's spot trading pair due to "insufficient liquidity." This decision disappointed the community, causing the price to drop to a low of $0.04, and investors were generally bearish on the outlook.
However, the plot took a sudden turn on April 16: Binance announced the listing of the $AERGO/USDT perpetual contract, supporting up to 15x leverage. Upon this news, speculative funds quickly poured in, and the price of $AERGO surged from $0.2 to $0.4995 within hours, reaching a new all-time high.
This surge received support from multiple sources. On April 15, the DigiFinex exchange listed the $AERGO/USDT trading pair, boosting token liquidity. On the same day, the Aergo team announced an AMA on Telegram scheduled for April 16 to discuss decentralized AI and potential new projects, igniting community enthusiasm. Market sentiment was pushed to the peak, with technical indicators showing an RSI (Relative Strength Index) as high as 93, indicating the market was severely overbought, and the speculative craze reached its climax.
The Catalyst for the Collapse: The Leverage Trap and Data Discrepancy
Just as investors cheered for the 10x surge, the Binance futures launch on the afternoon of April 16 became the starting point of a disaster. The price of $AERGO plummeted from $0.5 cliff-like to $0.1 within 12 hours, an 80% drop. Community anger quickly spread, with fingers pointing directly at Binance's data transparency issue. Investors discovered that Binance displayed $AERGO's circulating market cap as $30 million, significantly deviating from the calculated market cap based on a circulation of 477 million. For instance, at a price of $0.4, the market cap for 477 million circulation should be $0.4 × 477 million = $190.8 million; even at a price drop to $0.22419 (data on April 17), the market cap should be approximately $107 million, but Binance still showed $300.869 million. This discrepancy led investors to question whether Binance intentionally underreported the market cap to deceive retail investors into thinking the token was "undervalued," leading them to buy at a high.
Funding Rate Data Exacerbates Market Turbulence. During the sharp rise, the funding rate for $AERGO was around 0.1%, attracting a significant amount of leverage long positions. However, after the price collapse, Bybit data showed the funding rate dropping to -3.000%, with shorts dominating the market and long positions being liquidated. On-chain data further indicates that the open interest of contracts on Bybit, Gate.io, and MEXC decreased by 53%, 50%, and 71%, respectively, reflecting traders' panic-driven exodus. High concentration has also become a concern: around 50% of the tokens are held by the team and early investors, making them vulnerable to sell-offs by whales.
Community Outrage: Data Manipulation or Amateur Mistake?
Binance's Market Cap deviation issue has become the focal point of community controversy. After investors' calculations, it was discovered that Binance's market cap data was much lower than the actual value. Some mocked, saying, "Doesn't Binance even know primary school math? 477 million circulating supply, $0.4 price, how is the market cap only 30 million?" What's even more puzzling is that the market cap data of exchanges like OKX, Bybit, and BG all align with the actual circulating supply, except for Binance's anomalous data, sparking speculations of "data manipulation." One investor in the community complained, "Thought the market cap was only $30 million, bought some, then it plummeted, upon closer inspection, the market cap was completely wrong!" Another investor expressed that they bought in at a high price due to trusting Binance's data, experiencing consecutive heavy losses.
The consequences of this data deviation are disastrous. Investors generally believe that Binance's underreported market cap may have misled retail traders into thinking $AERGO was "undervalued," prompting them to go long, while whales took the opportunity to sell off for profits. The community has begun calling for rights protection, with some suggesting, "The price has halved twice, can those who lost money going long seek redress from Binance? Clearly, it was their data that misled retail traders!" The Aergo team issued a statement on April 17 acknowledging the unusual price fluctuations but emphasizing they were not informed in advance of Binance's futures listing plans and called for the resumption of spot trading to stabilize the market. However, the official website became temporarily unavailable due to a surge in traffic and DDoS attacks, further undermining community confidence.
The sharp rise and fall of $AERGO reflect the complexity of the crypto market. Community sentiment oscillates between optimism and anger: supporters are looking forward to the community vote on April 26 to steer the project in a new direction, while critics warn that high concentration and opaque operations of exchanges may lead to more volatility. Technical analysis indicates that $AERGO is stabilizing in the $0.1-0.2 range, Bollinger Bands suggest volatility is narrowing, and it may enter a consolidation phase in the short term. However, persistent negative funding rates and a sluggish open interest volume reflect that the market sentiment remains somewhat bearish, and investors need to beware of further downside risks.
Epilogue: Market Lesson in the Data Fog
A 10x surge in a week, an 80% crash in a day—$AERGO's rollercoaster ride is a microcosm of speculation frenzy and market risk. Binance's dramatic moves from delisting spot trading to launching futures not only fueled speculative fever but also triggered a trust crisis due to data inaccuracies. The serious errors in market capitalization not only led retail investors to heavy losses but also exposed transparency issues in trading platforms. For investors, $AERGO's story reminds us that amid the frenzy and pitfalls of the crypto market, the authenticity of data may be the key to determining gains and losses.
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Within 24 hours, GOONC's market cap soared to 70 million, could GOONC be the next billion-dollar dog on the Believe platform?
Bitcoin has broken $100,000, Ethereum has surpassed 2500, and is Solana's hot streak about to make a comeback?
The current market is in a state of macro euphoria, with GOONC riding the wave today, skyrocketing 10x in just a few hours, reaching a market cap of tens of millions of dollars, trading volume soaring past 50 million, and rumors swirling that the developer may be from OpenAI (unconfirmed but intriguing enough).
A ludicrous and absurd Solana meme that some actually buy into.
GOONC is a meme coin that has sprouted from the "gooning" subculture, offering no technological innovation or practical use, its sole function being speculation.
It takes inspiration from an NSFW term "gooning," which refers to a person being deeply immersed in certain content (you know what), eventually entering a nearly religious-like trance.
In Reddit (such as r/GOONED, r/GoonCaves) and some counterculture media outlets (such as MEL Magazine in 2020), "gooning" has gradually transitioned from an adult label to a meme-addicted, digital content and virtual self-indulgence synonym, arguably the epitome of Degen spirit.
GOONC is playing around with this concept, packaging the addictive nature, uselessness, and irony of gooning into a tradable financial product. The project team has made it clear: "We do not solve blockchain problems, we only trade absurdity." Blunt but oddly genuine.
GOONC launched on May 13, 2025, using the meme coin launch platform Believe App's LaunchCoin module on Solana. This tool is highly Degen: zero technical barriers, a few clicks to create a coin, perfect for projects like GOONC that can come up with ideas out of the blue.
The mastermind behind GOONC is also quite something and is the most talked-about, with KOL @basedalexandoor on X platform (alias "Pata van Goon") personally involved. His profile even caught the attention of Marc Andreessen, co-founder of a16z, making onlookers unable to resist speculating if GOONC has a hint of OpenAI lineage.
While this 'OpenAI Endorsement' is currently just community speculation, it is definitely a good card to play to fuel hype. Saying "we are pure speculation" on one hand, while tagging a few "AI + a16z" on the other.
GOONC took off as soon as it launched. After its launch on May 13, 2025, its market capitalization skyrocketed to $22 million within 4 hours, with a trading volume exceeding $25.6 million in 24 hours. According to platform data, the first day of trading saw an astonishing +41,100% surge, soaring from $0.0000001 to $0.02, becoming a "missed-the-boat" situation.
GOONC quickly formed an active trading community post-launch, with a lot of discussion and trading signals appearing on X platform (such as the 292x return signal provided by DeBot). Liquidity pools on exchanges like Raydium and Meteora grew rapidly, supporting high trading volumes and price increases.
The real climax occurred between May 13 and May 14, with the market cap rising to $5.5 million in the morning and directly surpassing $55 million in the afternoon. By the 14th, it briefly approached a $70 million market cap, with the trading volume soaring to $59 million. Some community members even posted screenshots claiming an increase of +85,000%, creating a new myth out of the ruins.
As of 1:30 pm on May 14, the price stabilized around $0.039, with a total market cap and FDV both around $39.6 million, and a 24-hour trading volume of $5.43 million. Active platforms include XT.COM, LBank, Meteora, and others.
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DYDX: Today's discussions about DYDX mainly focused on the dYdX Yapper Leaderboard launched by KaitoAI. The leaderboard aims to identify the most active community participants, with a total of $150,000 in rewards to be distributed over the first three seasons. This initiative has sparked broad community participation, with many users discussing the potential rewards and the incentive effect on the DYDX ecosystem. Meanwhile, progress on the ethDYDX to dYdX native chain migration and historical airdrop events have also been topics of discussion.
1. "What Is 'ICM'? Holding Up the $4 Billion Market Cap Solana's New Narrative"
Overnight, the hottest narrative in the crypto space has become "Internet Capital Markets," with a host of crypto projects and founders, led by the Solana ecosystem's new Launchpad platform Believe, releasing this phrase. Together with "Believe in something," it has become the new slogan heralding the onset of a bull market. What exactly is the so-called "Internet Capital Market," will it become a short-lived hype phrase like the Base ecosystem's previous Content Coin, and what related targets are available for selection?2.《LaunchCoin Surges 20x in One Day, How Did Believe Create a $200M Market Cap Shiba Inu After Going to Zero?｜100x Retrospective》
LAUNCHCOIN broke through a $200 million market cap today, with the long-lost liquidity and such a high market cap "Memecoin" almost bringing half of the on-chain crypto community CT into the fray. The community is crazily discussing this token, with half of it being FOMO and the other half being FUD. This token, originally issued by Believe founder Ben Pasternak under his personal identity, transformed into a new platform token after a renaming. From once going to zero to a $200 million market cap, what happened in between?May 14 On-chain Fund Flow
Within 24 hours, GOONC's market cap soared to 70 million, could GOONC be the next billion-dollar dog on the Believe platform?
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A ludicrous and absurd Solana meme that some actually buy into.
GOONC is a meme coin that has sprouted from the "gooning" subculture, offering no technological innovation or practical use, its sole function being speculation.
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In Reddit (such as r/GOONED, r/GoonCaves) and some counterculture media outlets (such as MEL Magazine in 2020), "gooning" has gradually transitioned from an adult label to a meme-addicted, digital content and virtual self-indulgence synonym, arguably the epitome of Degen spirit.
GOONC is playing around with this concept, packaging the addictive nature, uselessness, and irony of gooning into a tradable financial product. The project team has made it clear: "We do not solve blockchain problems, we only trade absurdity." Blunt but oddly genuine.
GOONC launched on May 13, 2025, using the meme coin launch platform Believe App's LaunchCoin module on Solana. This tool is highly Degen: zero technical barriers, a few clicks to create a coin, perfect for projects like GOONC that can come up with ideas out of the blue.
The mastermind behind GOONC is also quite something and is the most talked-about, with KOL @basedalexandoor on X platform (alias "Pata van Goon") personally involved. His profile even caught the attention of Marc Andreessen, co-founder of a16z, making onlookers unable to resist speculating if GOONC has a hint of OpenAI lineage.
While this 'OpenAI Endorsement' is currently just community speculation, it is definitely a good card to play to fuel hype. Saying "we are pure speculation" on one hand, while tagging a few "AI + a16z" on the other.
GOONC took off as soon as it launched. After its launch on May 13, 2025, its market capitalization skyrocketed to $22 million within 4 hours, with a trading volume exceeding $25.6 million in 24 hours. According to platform data, the first day of trading saw an astonishing +41,100% surge, soaring from $0.0000001 to $0.02, becoming a "missed-the-boat" situation.
GOONC quickly formed an active trading community post-launch, with a lot of discussion and trading signals appearing on X platform (such as the 292x return signal provided by DeBot). Liquidity pools on exchanges like Raydium and Meteora grew rapidly, supporting high trading volumes and price increases.
The real climax occurred between May 13 and May 14, with the market cap rising to $5.5 million in the morning and directly surpassing $55 million in the afternoon. By the 14th, it briefly approached a $70 million market cap, with the trading volume soaring to $59 million. Some community members even posted screenshots claiming an increase of +85,000%, creating a new myth out of the ruins.
As of 1:30 pm on May 14, the price stabilized around $0.039, with a total market cap and FDV both around $39.6 million, and a 24-hour trading volume of $5.43 million. Active platforms include XT.COM, LBank, Meteora, and others.
Although there was a slight pullback from the peak ($0.07), the coin's popularity remains strong. For a coin that relies purely on "irony + community + X post" to thrive, this performance is already at a stellar level.
Currently, the background of the token's development team is not transparent, increasing the potential risk of a rug pull. Rugcheck.xyz warns that the creator of the GOONC contract may have permission to modify the contract (e.g., change fees or mint additional tokens), posing certain security risks.
Community members speculate that the meteoric rise of GOONC may be the "last hurrah".
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