Analyst links 90% POWER plunge to dumping from team-related address

The recent 90% plunge in Power Protocol (POWER) over the past 24 hours may be linked to dumping from an address associated with the project's team, according to on-chain analyst EmberCN. The analyst noted that from yesterday evening to this morning, the team-related address 0x9D70054a57798bc255D8F866F006744fB3A09d63 deposited 30 million POWER, valued at $16.23 million at the time, into exchanges including Bitget and MEXC. EmberCN explained that the token's 90% crash began after these deposits, with its price falling from $1.86 to $0.17. POWER had previously experienced a significant rally starting on Feb. 15, surging approximately 1400% to a peak of $2.57 on March 2. The token has since erased all of its recent gains and is currently trading at $0.17764, down 90.4% over the last 24 hours.