$SPK

$SPK: From Hype to Hangover—Can Spark Token Recover?

Spark Protocol recently launched its much-anticipated $SPK governance token, accompanied by a massive 300 million token airdrop worth around $18 million. The excitement initially pushed the token’s price to approximately $0.177, but that momentum was short-lived. Within hours, $SPK experienced a sharp decline, dropping more than 60% to trade as low as $0.05, reflecting a classic post-airdrop sell-off.

The token briefly rebounded to around $0.069, but continues to face strong resistance in the $0.06–$0.07 range. On-chain data reveals that whales have already offloaded over 39 million SPK (valued at $2.7 million) onto Binance following the airdrop, fueling concerns about further price weakness in the short term. This sell pressure, combined with the typical launch volatility, has kept traders cautious.

Despite the rocky start, Spark Protocol’s fundamentals—especially its auto-allocation of stablecoin liquidity and integration with MakerDAO’s DAI ecosystem—could provide a long-term growth narrative for $SPK. For now, the token needs to stabilize, rebuild market confidence, and show tangible ecosystem adoption before it can hope for a sustained recovery.