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Former New York City Mayor Eric Adams's NYCtoken has sparked market skepticism. Within just a few hours of launch, liquidity experienced a significant contraction, with a daily decrease reaching the million-dollar level.
This abnormal fluctuation has raised alert among investors. Some analysts believe that the rapid depletion of liquidity in the project may indicate underlying risk factors. The market is currently closely monitoring the development of the situation.
Based on the historical performance of memecoins, such projects are often associated with high risks. Investors should exercise caution and conduct thorough assessments.