Recently, I've been keeping an eye on the $GIGGLE coin, and the more I look at it, the more I feel something is off.

To be honest, when judging whether a altcoin is worth investing in, the first thing to look at is whether the project has solid backing. When this coin initially skyrocketed, it was everywhere promoting that "transaction fees are donated to charity" and intentionally linked to a certain crypto tycoon’s charitable project. As a result, the person in question directly issued a statement clarifying: this project has no connection to me, and even who issued the coin is unclear. At the moment when the backing denies any association, this story basically can’t continue.

The technical analysis further illustrates the issue. I looked through the historical data of a certain mainstream exchange, and the coin's price movement resembles an out-of-control roller coaster – it once surged to several hundred dollars through hype, but after just a few days, it was halved and then halved again, with its market value evaporating by 73%, dropping from the tens of millions to just over a million. There were occasional rebounds? They were mostly orchestrated by large holders dumping their assets, and once retail investors took over, a new round of declines began.

Take the recent performance as an example, the coin price has slid to around 0.0092 USD, with a 24-hour trading volume of only 1.73 million USD, and liquidity visibly depleted. Even more fatal is its "black history": not long ago, when a certain exchange announced the donation of transaction fees, retail investors rushed to chase the price up, but as soon as a big player clarified, it led to a crash, with the price plummeting from 113 USD to 56 USD, causing many to get liquidated on the spot, and even well-known traders in the circle lost hundreds of thousands of dollars.

A coin that relies entirely on news and emotions can collapse at any moment. The market sentiment has long shifted from frenzy to caution, and those holding coins are looking for opportunities to exit. More importantly... there may be more hidden risks behind this project that have yet to be revealed.