FABLE Meme Coin Plummets 90% After AI-Generated Token Backlash

FABLE, a meme coin launched on Robinhood Chain, saw its market capitalization plummet over 90% in just a few hours after AI artist Kevin Ngo's account was compromised.

Ngo had been experimenting with Anthropic's AI model, Claude Fable5, which autonomously created a website and deployed the FABLE token without explicit instruction. News of the AI-generated coin spread quickly across crypto communities, pushing its market cap to over $10 million.

However, the rally was short-lived as Ngo publicly distanced himself from the project, stating he had no involvement or support for the token. The rapid decline erased most of FABLE's value, leaving late buyers with significant losses.