This article will be updated with new developments.
Just hours ago, DeXe (DEXE) was trading above $14 – but in a single, sharp move, the token collapsed to around $9.2. The sell-off happened almost entirely in one large red candle, shocking traders and sparking speculation across social media.
DEXE briefly bounced back to $10.3, but that rebound didn’t hold. As of writing, the token is trading near $9.1 and appears to still be falling. This marks DEXE’s lowest price since December 2024.
Major updates to this article:
•June 02, 22:03 UTC: More information from project contributor on Telegram
What Caused the Drop?
At the time of writing, no official explanation has been given for the price crash. The DeXe team has not issued a statement, and their official X account has not commented on the situation. Users have added new replies under the project’s most recent post, asking for clarity.
In addition to activity on X, many investors have flooded DeXe’s official Telegram channel asking what happened – but so far, the team hasn’t responded. One community contributor speculated that the drop may have been triggered by a large liquidation on a centralized exchange, though no confirmation or technical detail has been provided:
The same contributor later addressed the uncertainty:
Everything is ok with Protocol and DAO (…) What I can say is that with the project, smart-contracts, and treasury, everything is fine. There is no bad news or something like that.
While this message offers some reassurance to users, no official confirmation has been provided, and the cause of the drop remains unclear.
Some traders are drawing comparisons to other recent crashes, including the sudden collapse of Mantra (OM). In the recent weeks we’ve also seen similar sudden drop of Solayer (LAYER).
We will update this article as soon as new information becomes available.
