{"id":606470,"date":"2024-05-03T17:00:33","date_gmt":"2024-05-03T17:00:33","guid":{"rendered":"https:\/\/wncen.com\/?p=606470"},"modified":"2024-05-03T15:20:26","modified_gmt":"2024-05-03T15:20:26","slug":"friend-tech-token-launch-turns-into-a-nightmare-as-price-dives-98","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/friend-tech-token-launch-turns-into-a-nightmare-as-price-dives-98\/","title":{"rendered":"Friend.tech Token Launch Turns Into A Nightmare As Price Dives 98%"},"content":{"rendered":"

The decentralized social network Friend.tech, launched in August 2023, is facing a significant setback as its native token, FRIEND, experiences a staggering 98.5% drop in value.\u00a0<\/span><\/p>\n

Investors who participated in the recent <\/span>airdrop <\/span><\/a>of FRIEND tokens have expressed serious concerns about the development, highlighting issues with token claiming and app functionality.<\/span><\/p>\n

Investors Hit Hard As FRIEND Token Crashes<\/span><\/h2>\n

Upon its debut, the <\/span>FRIEND token<\/span><\/a> entered the market with a trading price of $169 per token, attracting 18,000 holders, and boasting a circulating supply of 14 million tokens.\u00a0<\/span><\/p>\n

However, the current trading price has plummeted to approximately $1.26, resulting in a market cap of $27.7 million and liquidity of $5.4 million, according to DexScreener <\/span>data<\/span><\/a>, leaving many investors frustrated.\u00a0<\/span><\/p>\n

Related Reading: Why This Crypto Bull Run Might Not Live Up To The Past: Analyst<\/a><\/div>\n
\"Friend.tech
FRIEND’s price crash in 24 hours. Source: DexScreener<\/a><\/figcaption><\/figure>\n

The airdrop process, which aimed to distribute tokens to the community, has faced its fair share of challenges. Users on social media site X (formerly Twitter) expressed frustration over the declining value of their airdropped tokens.\u00a0<\/span><\/p>\n

Some claimants experienced difficulties claiming their tokens, while others reported watching the value of their holdings diminish significantly in <\/span>hours.\u00a0<\/span><\/p>\n

One user even <\/span>accused <\/span><\/a>a prominent figure of orchestrating a rug pull, further fueling the community’s discontent.\u00a0<\/span><\/p>\n

DeFi Researcher Slams Friend.tech V2 Launch<\/span><\/h2>\n

Despite the current downturn, some crypto analysts predict a potential recovery for the FRIEND token. Notably, crypto analyst Daan Crypto Trades <\/span>suggests <\/span><\/a>that the token’s value may rise in the future, emphasizing that market sentiment may change once users start to see returns on their investments.<\/span><\/p>\n

However, concerns remain regarding the <\/span>functionality <\/span><\/a>of the Friend.tech app, which experienced significant issues during its initial weeks.<\/span><\/p>\n

DeFi researcher DeFi Ignas <\/span>expressed <\/span><\/a>disappointment in Friend.tech’s V2 launch, describing it as a \u201cmassive flop.\u201d Ignas criticized the app’s usability issues and questioned whether the team’s focus was misplaced during development. Speculation arose regarding whether the team deliberately orchestrated a price decline to prompt a subsequent surge in value.<\/span><\/p>\n

Related Reading: Bitcoin Update: $120 Million Futures Liquidated As Price Takes A Beating<\/a><\/div>\n

Despite this, the self-proclaimed number one creator on Friend.tech’s platform, using the pseudonym “Captain Levi,” <\/span>stated <\/span><\/a>the following in support of the token:<\/span><\/p>\n

The dump is brutal but actually healthy as jeeters sell at heavily discounted prices while real users have not even waken up to the full potential of V2 and money clubs given the app barely works. think we already saw bottom and price should slowly recover as users buy clubs<\/span><\/p><\/blockquote>\n

As Friend.tech grapples with the challenges surrounding the FRIEND token, the crypto community eagerly awaits improvements in app functionality and a potential revival of the token’s value.\u00a0<\/span><\/p>\n

\"Friend.tech
The daily chart shows the total crypto market cap’s valuation at $2.2 trillion. Source: TOTAL on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image from Shutterstock, chart from TradingView.com <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The decentralized social network Friend.tech, launched in August 2023, is facing a significant setback as its native token, FRIEND, experiences a staggering 98.5% drop in value.\u00a0 Investors who participated in the recent airdrop of FRIEND tokens have expressed serious concerns about the development, highlighting issues with token claiming and app functionality. Investors Hit Hard As FRIEND Token Crashes Upon its debut, the FRIEND token entered the market with a trading price of $169 per token, attracting 18,000 holders, and boasting a circulating supply of 14 million tokens.\u00a0 However, the current trading price has plummeted to approximately $1.26, resulting in a market cap of $27.7 million and liquidity of $5.4 million, according to DexScreener data, leaving many investors frustrated.\u00a0 Related Reading: Why This Crypto Bull Run Might Not Live Up To The Past: Analyst The airdrop process, which aimed to distribute tokens to the community, has faced its fair share of challenges. Users on social media site X (formerly Twitter) expressed frustration over the declining value of their airdropped tokens.\u00a0 Some claimants experienced difficulties claiming their tokens, while others reported watching the value of their holdings diminish significantly in hours.\u00a0 One user even accused a prominent figure of orchestrating a rug pull, further fueling the community’s discontent.\u00a0 DeFi Researcher Slams Friend.tech V2 Launch Despite the current downturn, some crypto analysts predict a potential recovery for the FRIEND token. Notably, crypto analyst Daan Crypto Trades suggests that the token’s value may rise in the future, emphasizing that market sentiment may change once users start to see returns on their investments. However, concerns remain regarding the functionality of the Friend.tech app, which experienced significant issues during its initial weeks. DeFi researcher DeFi Ignas expressed disappointment in Friend.tech’s V2 launch, describing it as a \u201cmassive flop.\u201d Ignas criticized the app’s usability issues and questioned whether the team’s focus was misplaced during development. Speculation arose regarding whether the team deliberately orchestrated a price decline to prompt a subsequent surge in value. Related Reading: Bitcoin Update: $120 Million Futures Liquidated As Price Takes A Beating Despite this, the self-proclaimed number one creator on Friend.tech’s platform, using the pseudonym “Captain Levi,” stated the following in support of the token: The dump is brutal but actually healthy as jeeters sell at heavily discounted prices while real users have not even waken up to the full potential of V2 and money clubs given the app barely works. think we already saw bottom and price should slowly recover as users buy clubs As Friend.tech grapples with the challenges surrounding the FRIEND token, the crypto community eagerly awaits improvements in app functionality and a potential revival of the token’s value.\u00a0 Featured image from Shutterstock, chart from TradingView.com<\/p>\n","protected":false},"author":589,"featured_media":606472,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[6664,14690,1558,54512,92211,92212,89239,92209,92210],"class_list":["post-606470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-crypto-news","tag-cryptocurrency","tag-defi","tag-friend","tag-friend-token","tag-friend-tech","tag-friend-tech-news","tag-friend-tech-token"],"acf":[],"yoast_head":"\nFriend.tech Token Launch Turns Into A Nightmare As Price Dives 98%<\/title>\n<meta name=\"description\" content=\"Friend.tech, launched in August 2023, is facing a significant setback as its native token FRIEND experiences a staggering 98.5% drop in value.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology. Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry. One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision. Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities. Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth. However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape. Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge. With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.","sameAs":["https:\/\/instagram.com\/itsmarquez_fr?igshid=ZDdkNTZiNTM=","https:\/\/x.com\/Rmmcapital"],"url":"https:\/\/wncen.com\/author\/ronaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Friend.tech Token Launch Turns Into A Nightmare As Price Dives 98%","url":"http:\/\/wncen.com\/news\/friend-tech-token-launch-turns-into-a-nightmare-as-price-dives-98\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/friend-tech-token-launch-turns-into-a-nightmare-as-price-dives-98\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/shutterstock_download-7-4.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/shutterstock_download-7-4.jpg?fit=390%2C260"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Ronaldo Marquez"}],"creator":["Ronaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["crypto","crypto news","cryptocurrency","defi","friend","friend token","friend.tech","friend.tech news","friend.tech token"],"dateCreated":"2024-05-03T17:00:33Z","datePublished":"2024-05-03T17:00:33Z","dateModified":"2024-05-03T17:00:33Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Friend.tech Token Launch Turns Into A Nightmare As Price Dives 98%\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/friend-tech-token-launch-turns-into-a-nightmare-as-price-dives-98\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/friend-tech-token-launch-turns-into-a-nightmare-as-price-dives-98\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/shutterstock_download-7-4.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/shutterstock_download-7-4.jpg?fit=390%2C260\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Ronaldo Marquez\"}],\"creator\":[\"Ronaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"crypto\",\"crypto news\",\"cryptocurrency\",\"defi\",\"friend\",\"friend token\",\"friend.tech\",\"friend.tech news\",\"friend.tech token\"],\"dateCreated\":\"2024-05-03T17:00:33Z\",\"datePublished\":\"2024-05-03T17:00:33Z\",\"dateModified\":\"2024-05-03T17:00:33Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/shutterstock_download-7-4.jpg?fit=390%2C260","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/606470"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/589"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=606470"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/606470\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/606472"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=606470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=606470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=606470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}