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CZ-Inspired TST Meme Coin Tanks 33%, Another Rug Pull?
August 7, 2025
In a shocking turn of events, the Test Token (TST) has taken a drastic plunge of approximately 68% in just 15 minutes, leaving investors reeling. The sudden and unexplained decline raises concerns about another potential rug pull scheme in the crypto market.
As trading volume surged to an astonishing $136 million, TST’s value plummeted from $0.04960 to $0.01547, a staggering loss of over two-thirds its initial value. This unexpected downturn has left many wondering if this is another instance of pump-and-dump manipulation, reminiscent of earlier cases such as ACT and Mas.
Crypto analyst Jason Chen has linked the TST dump to a familiar pattern seen with other tokens. “Hidden insiders create long sideways actions to fake accumulation, then pump the price so people FOMO in, and finally crash it with a brutal dump,” Chen wrote in a translated post on X.
It is essential to note that earlier this year, Binance founder Changpeng Zhao (CZ) announced his desire to compensate TST holders after the token saw a massive drop soon after its launch. Although CZ denied any direct involvement with the token, the recent decline has raised concerns about potential manipulation mimicking earlier pump-and-dump patterns.
TST’s fall places it in the same league as other notable rug pull cases, including over 4.5% of newly launched tokens that exhibited similar characteristics in 2024. Earlier this year, Argentine President Javier Milei promoted the LIBRA token, which skyrocketed from fractions of a cent to nearly $5 before an unexpected collapse that wiped out hundreds of millions in market capitalization and affected 74,000 investors.
Source: www.coinspeaker.com
