Key Highlights
- Sahara AI’s SAHARA token fell 45% following a sharp wick down on Binance.
- Price fell from an intraday high of $0.081 to $0.034, according to Binance market data.
Sahara AI’s token, SAHARA, experienced a steep price crash late on November 29, with Binance market data showing a sharp move at around 23:24 UTC+8. The token fell from its 24-hour high of $0.081 to an intraday low of $0.034, a drawdown of roughly 45.6%.
At the time of writing, the token was trading near $0.044, reflecting partial recovery but still well below previous levels.
The cause of the sudden move remains unclear. The Sahara AI team has issued a public statement following the token’s 45% crash, acknowledging the “unusual market volatility” that saw $SAHARA plunge from $0.081 to $0.034 on Binance.
In a statement posted on X, the team confirmed it has initiated an “internal investigation” to pinpoint the exact factors behind the severe fluctuations but assured the community that there are “no security risks or product-level issues” affecting the platform.
Public fundraising data shows that Sahara AI had previously raised $40 million from major investors, including Pantera Capital, Polychain Capital, and ZF Labs.
More details are expected as the team or exchanges address the abnormal trading activity.
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Update: The statement from the Sahara AI team was added at 7:20 PM UTC.
