The MOVE token experienced a sharp 16% drop following Coinbase’s statement that it would be delisting the cryptocurrency. This unexpected move by one of the largest cryptocurrency exchanges has left the community in speculation and raised concerns about the token’s future.

Coinbase, which has a history of impacting the price of assets by listing or delisting them, did not provide a clear reason for the decision to delist MOVE. However, within hours of the statement, the token’s price began to plummet, reflecting the lack of confidence in the asset following Coinbase’s decision. This move has left traders, holders, and the broader cryptocurrency community questioning the future of the MOVE token and the Movement Network, the project behind it.

Market Maker Dumping Allegations and Delayed Airdrop

The speculation surrounding the delisting stems from several issues that have plagued the project recently. Allegations have surfaced suggesting that Movement Labs, the company behind MOVE, was directly or indirectly involved in a market maker dumping a large volume of MOVE tokens. It is reported that 66 million MOVE tokens were dumped onto the market, significantly affecting the token’s price. This mass selling may have triggered the initial price drop and heightened suspicions surrounding the project’s operations.

In addition to the market maker allegations, the delayed airdrop of MOVE tokens has fueled further concerns. Movement Labs had planned an airdrop to reward holders and incentivize participation in its ecosystem. However, the delay in executing the airdrop led to frustration among the community, further eroding confidence in the project.

The combination of these events may have been the tipping point for Coinbase. While the exchange did not explicitly link its decision to the airdrop delay or market maker issues, it is likely that the growing concerns and negative sentiment surrounding the project were significant factors in the delisting.

MOVE Token’s Price Reaction and Community Response

Following the delisting statement, the MOVE token’s price crashed by more than 16%. This immediate reaction signaled that investors and traders were quick to sell off their positions, fearing further price declines and potential long-term damage to the token’s value. Interestingly, the daily trading volume of MOVE surged by 130%, indicating that holders were actively liquidating their assets.

The drop in MOVE’s price after Coinbase’s delisting has been a significant blow to Movement Labs, especially considering the token’s performance earlier in 2025. In the first quarter of the year, MOVE had outperformed both Bitcoin and Ethereum, and the project raised $100 million in venture capital funding, backed by notable investors. This strong performance initially created a positive outlook for the future of the token, but the recent events have cast a shadow over its credibility.

The Allegations of Market Maker Manipulation

A key issue surrounding the delisting is the allegations of market maker manipulation. Movement Labs reportedly loaned 50% of the MOVE token supply to Web3Port, an investment platform. Web3Port then allegedly dumped a large volume of the tokens, causing a sharp price decline in mid-March. The move raised suspicions within the community, with some believing that Movement Labs may have been complicit in these actions, either directly or indirectly.

These allegations are serious, as they suggest a lack of transparency and integrity within the project. If the rumors are true, it could have significant long-term consequences for the reputation of the Movement Network and its token. Investors and traders are now concerned that the project may not be as stable or reliable as previously believed, leading to the sell-off following Coinbase’s delisting.

Looking Ahead for MOVE and Movement Labs

Despite the delisting and the surrounding controversy, Movement Labs is not without resources. The project is backed by the Trump Family’s World Liberty Financial, which holds a significant portion of MOVE tokens. While this backing provides a level of financial security, it may not be enough to restore confidence in the project if the allegations of market manipulation are not addressed.

The community now faces an uncertain future for the MOVE token. Movement Labs has yet to provide any official statement addressing the allegations or the delisting. However, if the project fails to resolve these issues and restore trust among its users, the long-term outlook for MOVE may remain bleak.

In conclusion, the delisting of MOVE by Coinbase has highlighted several ongoing issues within the Movement Network. From allegations of market maker manipulation to a delayed airdrop, these factors have contributed to a loss of confidence in the project. While Movement Labs may still have the financial backing to recover, it will need to address these concerns transparently to restore its credibility and stabilize the price of MOVE. Until then, investors and traders will likely remain cautious, watching closely for any updates or resolution to the ongoing issues.