- Binance CZ-inspired TST token plunged over 40% after an anonymous whale dumped $6–7 million worth, wiping nearly $20 million from its market cap.
- Social media erupted with unfounded accusations against CZ and Binance insiders, despite no evidence linking them to the sell-off.
Binance-Linked TST Token Nosedives After Major Sell-Off
The Test Token (TST), a Binance-affiliated meme coin inspired by Changpeng “CZ” Zhao, has taken a severe hit, plummeting over 40% in value after an anonymous whale dumped $6–7 million worth of the token. With a pre-dump market cap of $55 million, the sell-off instantly erased nearly $20 million in market value, shaking investor confidence and triggering a frenzy on social media.
Trading Frenzy Follows the Chaos
According to Coinglass data, trading volume for TST soared over 800% within 24 hours of the incident, largely concentrated on BNB spot and futures markets. This sudden spike indicates that the whale executed their massive exit directly through BNB, amplifying the shock across the community.
Social Media Turns Into a Blame Game
As the price crumbled, frustrated holders took to social media, firing off baseless accusations. Many pointed fingers at Binance founder CZ and alleged insider manipulation—despite a lack of evidence. One user even linked the incident to previous crashes, stating:
“Binance and CZ keep dumping on their users… TST, another scam shilled by CZ, went down almost 50%.”
However, no factual links have been established between CZ and the whale behind the dump, making these claims more hysteria than helpful insight.
TST’s Wild Ride Highlights Meme Coin Risks
TST began as a tutorial on how to launch a meme coin but evolved into a speculative favorite. That transformation came with higher risk, as clearly demonstrated by this sudden crash. With one person reportedly holding over 10% of the total supply, the market was always vulnerable to sharp swings.
The identity of the whale remains a mystery for now. Until a blockchain post-mortem reveals more, traders are left with a painful reminder: meme coins like TST are not for the faint-hearted—and market moves can be swift and brutal.
