Degen

It's normal and logical for the price to drop so much when most of the allowance is allocated to just a few hundred users. Who would come here as a newcomer, buy 10k degen, and have an allowance of 5? Most have left and sold their bags, and I'm saying this from my own experience. Dozens of my friends have left and sold. 
And don't come to me saying the whole market is dropping; it's dropping, but not like degen
+ very hard for a new user to be vissible 
Even whales sold, probably insiders

Check the allowance to points-received ratio of top accounts, and you will notice that most of them are simply exchanging tips. 

As engagement does not count anymore, there are no giveaways, no money-guns being done, and so new users are not winning anything.

 Therefore, their presence in the degen ecosystem is worthless. 

Without them, there is no buying pressure, and the lack of development on external degenchain projects is failing to m bring enough liquidity in the market to help fight the massive sell-offs.

Degen team, please, wake up. You're the #1 farcaster token, and as i see it, there is simply no PR or marketing to confirm this. 


For now, the hat stays on.

Driving growth with passion 🏎  | /wevibe 🤙 | Make kindness the norm

Simply put, the token goes up if people buy it.

Nowadays, not enough users are eligible for the $degen airdrop, and as the utility is still minimal, there's almost no buying pressure.

However, there is faith. Hat stays on.