Aerodrome Plunges 10% Amid Market-Wide Selling and Liquidity Drain

Aerodrome's price dropped over 10% in the past 24 hours due to market-wide profit-taking and capital flight from Base Chain coins.

The decline was exacerbated by liquidity draining from Base Chain, with DEX volumes exceeding $600 million when AERO traded around $0.68.

However, the technical outlook suggests that AERO's correction phase may be nearing its end, with a potential bounce back to the $0.68 level if bulls succeed in defending the zone at $0.55.

Aerodrome PGF has rolled out a buyback program, acquiring and locking 171K AERO worth around $100K, which could mitigate selling pressure but is minimal compared to the market-wide selling.