$LAB update: -97% confirms the 2/10 rating-the pool is still active, but the whales are dumping

$LAB, update: the token we analyzed on 2/10 for its outrageous overvaluation (FDV of $6B with liquidity of $173k) has lost 97% of its value. The price fell from $5.16 to $0.156, but it’s too early to write this off-the pool is still active, and that suggests something more interesting than a typical rug pull.

Unlike a classic rig with LP withdrawals, $LAB is slowly leaking out through normal trading. Over the past 24 hours, there were 59,621 sales versus 55,531 purchases-a slight surplus, but given the $20.9M daily trading volume, this looks like an organized exit by large holders.

Distribution: Why the Whales Aren’t in a Hurry

The on-chain snapshot confirms: the top 10 hold 84.3% of the supply, with 33,680 holders. The deployer holds nothing at all, but this is a smokescreen-the data indicates that the deployer had already sold 1 token earlier. Concentration is at a dangerous level: according to our database, when the top 10 hold >60%, a sell-off occurs in 25% of cases with a 25% drop; however, in this case, the visible sell-off has already taken place (from a $6B FDV), and now the remaining funds are being withdrawn.

Critical point: LP is locked at 0%. When we wrote our first analysis, this looked like a red flag for the future (and indeed-the signal was correct). Currently, no one has withdrawn from the pool, which means either (A) whales are waiting for liquidity at a certain price, (B) they’re split across wallets with separate withdrawal limits, or (C) the pool has become sufficient for their purposes.

Why didn’t the classic rug pull happen?

The token is 282 days old-it has weathered the first wave of hype, the mint has been canceled, taxes are zero, and there’s no social media presence. According to launch standards, the verdict was 2/10 due to an inflated FDV and concentration, but the quality of technical security (mint revoked, live trading) remained above average for a memecoin.

This explains why $LAB doesn’t look like $ANIF or other 99% rug pulls that happen within hours. The creators couldn’t pull off a classic rug pull (the mint is blocked, the LP isn’t locked up but hasn’t been withdrawn either), so they’re exiting in increments through trading volume. There’s no social media presence, and no mentions on our watchlist-there was never a pump, just the momentum from the initial hype.

What our analysis shows

Current status:

• The DeGen market is overheated (index ≥ 70)-based on our data, this indicates a 64% rug pull and a 21% dump (n=14). $LAB is already in the dump phase.
• Top 10 > 60% + 0% LP lock-a classic combination for a gradual exit by whales.
• Lack of social activity-not a single mention on our watchlist; CoinGecko merely noted the drop.

The UTS engine rated the current verdict at 15/100-a clear SCAM zone by the book, but with a caveat: the scam has already happened (from $6B to $153M); the remainder is just the whales cashing out.

Risk going forward

At current volume, the token could continue to sell off for another 2-4 weeks at -70% of the current price. Liquidity at $1.4M is sufficient to prevent whales from creating a spike when large blocks are sold off. If the degenerate market suddenly overheats, there could be a +50% rebound, but that doesn’t change the bottom line: this is a minor project with an inflated FDV, doomed by concentration and a lack of community.