Sahara AI’s SAHARA token experienced a sharp decline of about 60 percent on June 9, leading to more than $23 million in liquidations across the market. The drop sparked widespread speculation, particularly as it came shortly after another incident involving the Humanity protocol, which reportedly lost $30 million in a breach that caused its H token to plunge nearly 90 percent.
Project Response and On Chain Activity
Following the sudden price drop from approximately $0.034 to $0.014 according to CoinGecko data, the Sahara AI team acknowledged unusual volatility in a post on X. They stated that no vulnerabilities had been found in the token’s smart contracts or platform products and added that they were continuing an internal investigation while providing further updates as needed.
Concerns intensified after on chain analysts pointed to a transfer of around 600 million SAHARA tokens, suggesting it could have triggered the price movement. The team later clarified that this transfer was a planned deployment linked to a Chainlink CCIP bridge contract. According to their explanation, the transaction was intended to supply liquidity for a newly launched cross chain bridge rather than represent any form of sell pressure.
The team also emphasized that neither investor nor internal treasury allocations had been moved. They stated explicitly that no tokens belonging to the team or investors were sold or transferred. To support their claim, they shared an Etherscan address for public verification and reiterated that the investigation into the price crash was still ongoing, separate from the bridge related activity.
Despite these assurances, market skepticism remains. Data from CoinGlass shows that over the past 12 hours, approximately $22.9 million in long positions were liquidated compared with just $354,000 in shorts, indicating that most losses were concentrated among traders positioned for upside.
Sharp Decline From All Time High
SAHARA was listed on Binance in June 2025 and later reached an all time high of $0.1605 in July. Since then, the token has fallen nearly 90 percent from its peak. At the time of writing, it is down more than 50 percent over the past week and about 54 percent over the past month.
The recent collapse comes shortly after another major token event involving EDGE, the native asset of a decentralized exchange, which dropped by 71 percent to a new all time low. Similar to Sahara AI, its team denied any security breach and attributed the decline to external manipulation, a claim that on chain analyst ZachXBT publicly challenged. Later reports from edgeX suggested that some centralized exchanges pointed to thin liquidity conditions as a contributing factor rather than coordinated selling from the team.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
