Cambria’s RSGP token price drops 74% on first day

Cambria’s RSGP token went live on Base on 29th October, and its first 24 hours have been what you’d expect. RSGP is currently trading at $0.0019, down 74% from its opening price of $0.0068, although up from an overnight low of $0.0015. Over the first day, 4,504 wallets sold against 835 buying, on $1.36 million in volume. At current prices, the 5 billion supply gives a fully diluted valuation of around $9.3 million. Selling was expected. Around 25% of the total supply circulated from day one, fully unlocked, including a 15% Genesis airdrop sent directly to wallets.