NEWT Token Plunges 29.8% After Major Exchange Listings and $12.5M Airdrop Surge

In the last 24 hours, NEWTUSDT experienced a sharp price decline of approximately 29.8%, with the price falling from a 24h open of $0.6553 to $0.4599. This price change is primarily attributed to aggressive profit-taking and increased selling pressure following the token’s simultaneous listings on major exchanges, including Binance, and the distribution of a large airdrop (12,500,000 NEWT) to early participants. The resulting surge in supply and speculative trading activity led to a rapid sell-off, which is characteristic of a "blow-off top" pattern often observed after high-profile token launches and airdrops.

Currently, NEWT trades at $0.4599 with a 24-hour trading volume exceeding $800 million and a market cap near $99 million, reflecting intense short-term trading interest and high volatility following its recent exchange listings and promotional events.