The Quack AI (Q) token surged from roughly $0.05 to $0.24, pushing its market capitalization close to $1 billion before falling back to around $0.06. Lookonchain reported that trader 0xF1fE made nearly $1 million, mainly by opening long positions during the rally, while 70% of Binance accounts were betting on a decline as open interest rose from $10 million to $42 million. Forty-eight wallets held 55% of Q on BNB Chain without recording any transactions during the surge. Analysts attributed the volatility to heavy wash trading, concentrated holdings and high leverage, with no major announcement or obvious new catalyst identified.
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