Why Bulb Token Crashed

Over the past four days, Bulb token has seen a sharp decline in price. This four days have seen major sell-offs by what we could call "Bulb whales". The token had been on a steady decline since liquidity was added on its trading pairs on April 13, but the the biggest dump came this week. This is despite more listings in more DeXs and CeXs including the Saros Super App.

How it started

$Bulb liquidity was added on Meteora two weeks ago at a time when crypto markets are in what you can call a correction season. It started trading at $0.0019 on 13th April. The following week saw $BULB being listed on Saros Super App and Saros/Bulb liquidity added. Dappradar has also listed Bulb.
On the other hand, Bulbapp was making major developments. First was the introduction of 2 one-time fees where one has to pay 2000 $BULB to unlock the writing feature and 500 $BULB to unlock the commenting feature. This is meant to get rid of spam on the platform completely. 25% of these and all $BULB spent on the platform shall be burnt.

The Big Dump

Over the past three days, there has been a significant decrease in the value of $BULB, resulting from major sell-offs of 1,000,000s $BULB as can be seen on Solscan, as well as smaller amounts. At the time of writing, $3,560 worth of $BULB had been traded in 156 trades, with 24 ($2,780) sells and 132 ($781) buys. These daily statistics reveal that the sales involved huge amounts but were few, while numerous purchases were made, albeit in small amounts.The token has experienced a sudden drop, resulting in an all-time low of $0.0005414. As of now, the price has slightly recovered and is trading at $0.0005822, which indicates a 15% drop from the previous day. However, there are positive signs of a potential recovery. Upon closer inspection, it seems that small purchases of about $3 each are triggering the surge. These purchases are most likely made by new users who are buying the token to unlock writing/commenting features on Bulb.
This drops in token prices could be due to so-called airdrop farmers who have been hoarding free tokens for years and are now selling them. While this is not a wise strategy, it is also a feature of a decentralized blockchain economy where anyone can participate. As these tokens are sold, they will become available to other users who are genuinely interested in the project, thus increasing its liquidity. This may attract more Bulb enthusiasts to the network.

What's Next $BULB?

BULB is a new player in the industry and has just completed two weeks in the market. It is essential to have airdroppers let go of the token to attract serious Bulbers and traders. The recent price drop presents an opportunity for new users to purchase the write/comment features at a discounted rate, making it more affordable and accessible to everyone. This discount will enable more users to unlock all the cool features and get on board with BULB. The market is also not favoring any coin or toke whatsoever. Bitcoin has also significantly gone down from its ATH last month as well as many major coins and tokens.
It's the perfect time to take advantage of the dip, hold onto your investment, and thrive. The Bulb project is just getting started, and with the recent update and upcoming developments, it's clear that this project is serious and aims to succeed. So, grab your keyboard and get to write!