#Degousdt

The Dego Finance (DEGO) token experienced a sharp decline in its price on the Binance platform today, dropping by nearly 52%, from about $2.65 to $1.18 over a short period of time.

This sudden drop is attributed to several factors, most notably the transfer of a large amount of DEGO tokens, estimated at over $250,000, to exchanges, which increased selling pressure. Additionally, buy positions worth over $650,000 were liquidated, marking the highest figure recorded for the token so far.

Technically, the price broke through significant support levels, including the 50 and 200-day moving averages, indicating strong selling pressure. Furthermore, the initiative to support the USD1 stablecoin on the BNB Chain raised concerns among investors, especially with more than 93% of liquidity concentrated in just three wallets, increasing doubts about the potential for manipulation.

In light of these developments, investors are advised to exercise caution and closely monitor the market before making any investment decisions.