RALPH, an AI-themed Meme Cryptocurrency, Plummets 80% Following a $300K Developer Sell-Off

RALPH, an AI-themed meme cryptocurrency, has seen an 80% drop in value following a sell-off by developer Geoffrey Huntley, who reportedly sold around $300,000 worth of tokens. The sell-off triggered a sharp decrease in value and sparked controversy over issues of trust, token ownership, and developer incentives. While Huntley defended his actions as "de-risking," critics argue that the abrupt sale has broken trust and disrupted the market. This incident adds to the growing concerns around the volatile nature of meme cryptocurrencies. At the time of the report, RALPH was trading at around $0.0054, a 66% drop on the day, and its market cap had decreased from near $47 million to about $4.9 million.