ZKJ Token Crashes Over 80% in a Day
Polyhedra Network’s native token ZKJ dropped from $1.9 to nearly $0.2 on June 15 and is now trading below $0.3. The crash followed a sudden unlock of 15.5 million ZKJ tokens and suspected coordinated dumps by large holders.
- The token had previously peaked at $4 in March 2024.
- On-chain analyst @ai_9684xtpa reported that:
- Wallet 0x1A29 dumped $3.7M in KOGE and $532K in ZKJ
Wallet 0x0781 sold $2M in KOGE and $1.4M in ZKJ
A third wallet liquidated 772K ZKJ worth $1.5M
KOGE, known as the 48 Club token and associated with ZKJ, also dropped sharply from $62 to $24.
Polyhedra Network said the crash was triggered by abnormal on-chain activity on the ZKJ/KOGE trading pair. The team is actively investigating and will provide updates soon.
From holding steady at $2 to collapsing in hours, a reminder of how unlocks and whale moves can shake the market.
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