Unofficial Token Sees Sharp Decline

The price of the GIGGLE memecoin dropped by as much as 30% after Binance co-founder Changpeng Zhao publicly denied any connection between the token and his Giggle Academy educational project. On social media, Zhao clarified that the coin is not an official launch and that he doesn’t know who is behind it.

The statement triggered a sharp sell-off, erasing a significant portion of the token’s recent gains. On-chain data shows the coin’s market capitalization fell to $58.75 million, a 28% decline in a single day. This correction wiped out gains from a period that had previously seen the token increase by 91% in one week and over 1,500% in the past month, a surge largely attributed to speculation following its debut on Binance.

The volatility has heavily impacted major token holders. Blockchain data revealed one large-scale investor had spent $1.2 million in USDT to acquire 4,794 GIGGLE tokens. Following the price collapse, that wallet, which holds nearly all of its assets in GIGGLE, saw its value drop below $1 million.

Technical indicators suggest the downward trend may continue, as the two-hour Relative Strength Index (RSI) shows no signs of a positive reversal. However, analysts note that a breakout above its current resistance trend line could invalidate the negative outlook.

Binance Pledges Trading Fees to Charitable Fund

Despite distancing himself from the memecoin, Zhao acknowledged the community’s charitable donations. In a related but separate initiative, he announced that Binance will support the Giggle Academy by donating a portion of transaction fees.

Starting in December 2025, Binance plans to donate 50% of the fees generated from Giggle Fund spot and margin trading pairs to support charitable projects associated with the Giggle Academy. The Giggle Fund, which runs on the BNB Smart Chain, has already raised over $6.3 million in donations through USDT, USDC, and BNB.

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