The recent listing of Big Eyes coin ($BIG) on Uniswap caused quite a stir among the crypto community, as the token experienced a massive price drop immediately after its debut. With the listing price set at a staggering 88% lower than what was initially announced by the team, and a further crash after that, the $BIG token is now down by a colossal 99%, trading roughly around $0.000007.
Such an unforeseen turn of events left many Big Eyes coinholders with jaw-dropping losses. Numerous screenshots circulating on social media platforms exemplify the severity of the situation, with some investors witnessing their initial position of $27k dwindling to a mere $2k.
As the community struggles to digest such a blow, several crypto influencers – including Jacob Bury, Crypto Ahoy, and Carl Talks Crypto – are questioning the legitimacy of the Big Eyes ICO. Comparing it to a potential ‘rug pull’, they’ve been drawing parallels to the kind of scams exposed by American YouTuber Stephen ‘Coffeezilla’ Findeisen. However, it should be noted that Coffeezilla has not yet commented on the Big Eyes presale or its launch on crypto exchanges.
Despite being listed on its first centralized exchange (Poloniex) on June 16th and launching its own Decentralized Exchange (DEX), Big Eyes Swap, the additional CEX and DEX listing seemingly had no impact on the $BIG price recovery. This has further fueled speculation within the community, conjecturing if the crypto project might be connected to other notorious rug pulls such as Firepin and Journart.
Attempting to provide an explanation for the price crash, the Big Eyes team claimed to have ‘liquidated the initial bots’ by selling some ‘funds’, with plans to add them back into the liquidity later on. Unfortunately, this peculiar announcement was followed by traders being required to pay $100 to claim their tokens early and an unexpected six-hour delay in launching.
These red flags, coupled with the extensive list of comments from holders who were unable to claim their tokens due to a ‘nonce too low’ transaction error, cast a shadow on the project’s credibility, and leave the community pondering its future. Currently, the liquidity of Big Eyes token stands at a paltry $60k, with a market cap of approximately $1 million.
As the narrative surrounding the Big Eyes coin continues to unfold, the key question remains – will the project be able to regain the trust of its once-loyal investors and make a comeback, or will it succumb to mounting skepticism and become a cautionary tale within the crypto world?
Source: Cryptonews
