SPK Token Drops 13% After 300M Airdrop, Trading Volume Soars Past $378M Amid Volatility

SPKUSDT has experienced a sharp price decline of 13.18% over the past 24 hours, currently trading at $0.047784 on Binance. This drop is primarily attributed to significant post-airdrop sell-offs, as over 300 million SPK tokens were distributed to users and quickly entered circulation, leading to heavy profit-taking and heightened volatility. The recent large-scale airdrop, combined with SPK’s debut on multiple major exchanges, triggered a surge in trading activity, with 24-hour volume exceeding $378 million—several times the market capitalization, which stands at approximately $83 million. The influx of tokens and rapid sell pressure have driven the price down from its initial post-listing levels, reflecting ongoing price discovery and uncertainty as the market absorbs new supply. Monitoring further exchange activity and perpetual contract launches will be important for assessing near-term sentiment and price stabilization.