When Tragedy Strikes: The PLUME Token Drama Unfolds! 😱💔

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Oh dear, what a dreadful turn of events! Our dear Eugene Shen, the co-founder of the illustrious RWA project Plume, has reportedly shuffled off this mortal coil. But, as if scripted by a playwright with a penchant for the dramatic, this announcement has sent the PLUME token tumbling down, leaving the community in a delightful state of disarray and finger-pointing.

Some skeptics, bless their hearts, are questioning whether Plume is merely a ruse or if this tragic announcement is a clever hoax. Others, with a flair for the dramatic, have decried these accusations and token sell-offs, professing undying loyalty to the company. Regardless, it’s been a rather peculiar market reaction to such a tragic affair.

Oh, The PLUME Token Dumps!

Plume, that charming little RWA onboarding blockchain firm, has been the talk of the town since YZi Labs decided to invest in it this March. Alas, over the past week, the company’s PLUME asset has plummeted by a staggering 18%, and today, the token dump has become the talk of the tea party.

The firm, in a rather somber tone, announced the passing of our dear Eugene Shen, presumably providing a rather convenient explanation for this price plunge:

It is with heavy hearts that we share the news of a tragic loss within our company. Earlier this week, we lost our cofounder and dear friend, Eugene. We’re in shock. Eugene was brilliant, deeply curious, and brought so much talent and heart to everything he did. Our thoughts are…

— Plume – RWAfi Chain (@plumenetwork) May 29, 2025

However, the announcement was rather vague, lacking a specific date or cause of Shen’s demise, only that it occurred last week. This, of course, clarified the PLUME token dump for some users, many of whom were quick to condemn the investors’ rather ghastly behavior.

Despite PLUME already being on a downward spiral for several days, it experienced an additional 7.4% crash today, coupled with a 145% increase in trading volume. One can only assume that Shen’s untimely departure has stirred the pot of price action.

Yet, alternate narratives began to circulate, albeit from a rather small faction. Why, one might ask, did the price drop commence days prior?

It seems several token holders are branding PLUME a scam and the co-founder’s death a mere fabrication. However, these claims lack any substantial evidence and reveal a rather unsettling display of public empathy.

Sad story:

Bought $Plume 5 months ago at $0.13 with a 2B circulating supply. Didn’t sell at x2 ATH.

Now it’s dipping hard after a 433M token unlock and the death of a team member—right before mainnet launch.

Time to exit before they announce the death of @chriseyin or @teddyP_xyz

— Gainz (@0x03soL) May 29, 2025

Even if this perspective is not widely embraced, this jarring cynicism has certainly shocked the crypto community. Sure, crypto scams are as common as tea and crumpets, but would PLUME really stoop so low as to fake a death for a token dump?

Defenders of the realm quickly pointed out all of Plume’s major investors, claiming the company has a clear history and market presence.

This bizarre incident merely highlights a rather hidden ugliness lurking within the crypto community. Perhaps the fall of MANTRA has shaken investor confidence across the entire RWA market, or maybe users are simply growing weary of scams.

It’s bad enough that PLUME users have dumped their tokens following a team member’s death, but it’s far more concerning that some individuals are convinced it’s all a grand scam.

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2025-05-29 23:49