Despite facing accusations of insider trading and concerns about its tokenomics, LAB reached a record high of $16.23 on June 1st, resulting in over a 12,000% increase in value since the beginning of the year.
-
Key Takeaways:
- On June 1, AI trading token LAB defied insider manipulation allegations to hit an all-time high of $16.23.
- LAB’s explosive rise triggered over $19 million in liquidations and a brief top-20 spot on CoinGecko.
- ZachXBT warns investors of extreme volatility ahead of an upcoming LAB token unlock by concentrated holders.
New All-Time Highs for LAB
Wow, LAB token has been on a tear! I’ve been watching it closely, and it hit a new high of $16.23 on June 1st – more than double what it was just 24 hours before. Over the past week, it’s up over 250%, and if you look back to May 1st, it’s gained over 580%! It even briefly pushed the total market value of the project past $6 billion. It’s pretty wild to see it keep climbing, especially considering there are some concerns about how the token is structured and accusations of insider trading. Still, the price action is undeniable.
Market data showed that LAB’s brief surge past the $16 mark saw it momentarily break into the top 20 coins by market capitalization tracked by Coingecko. Although it ultimately retreated to $14.66 at 9:08 a.m. EDT on June 1, the token was still ahead of BCH and TON. LAB’s ascendancy amid a market-wide sell-off triggered the liquidation of more than $16.5 million in short bets and $2.6 million in long bets.
In a May 14 post on X regarding his investigation into the project, ZachXBT alleged that 95% of the LAB token supply was likely in the hands of insiders. The online sleuth also claimed that one of the signers for several LAB team multisigs was funded by an insider linked on-chain to RIVER manipulation. The same insider received more than $12 million of RIVER tokens across two centralized exchange deposit addresses. ZachXBT also tied LAB’s founders to ESE, their previous project, which he said left investors feeling abandoned after the team moved on.
However, despite ZachXBT’s warning and the grim findings of his investigation, the LAB token did not tank and held its ground for much of the second half of May. Starting May 29, LAB rose sharply, helping push its year-to-date gains to over 12,000%. Reacting to the latest price action, ZachXBT repeated his past warnings about the project.
In response to a question about the LAB token on X (formerly Twitter), ZachXBT warned that this appears to be the final attempt to artificially inflate the token’s price before previously undisclosed supplies from over-the-counter and private sales are released. He advises people to avoid investing in this coin.
A separate investigative group on X described LAB’s recent growth as a risky move, suggesting it could harm those with inside knowledge. They also reminded everyone that LAB is preparing to release more tokens, which typically lowers the value of existing ones.
“Price can keep ripping on low float, but you’re trading against concentrated holders who can exit whenever. Volatility will be extreme [in] both directions,” Aixbt said in a post on X.
Read More
- USD CNY PREDICTION
- Silver Rate Forecast
- Gold Rate Forecast
- EUR HKD PREDICTION
- USD THB PREDICTION
- USD AUD PREDICTION
- CNY JPY PREDICTION
- USD RUB PREDICTION
- GBP EUR PREDICTION
- EUR HUF PREDICTION
2026-06-02 04:57