Why Is LGNS Price Down Today?
$LGNS Origin is trading around $5.58, down 2.26% in the last 24 hours, despite maintaining a solid market cap of $928.58M. The recent dip appears to be driven mainly by short-term market dynamics rather than fundamental weakness. One key factor is the 13.11% drop in 24-hour trading volume, which indicates reduced buying pressure. When volume declines, even moderate sell orders can push prices lower.
Another reason could be profit-taking after previous price movements. With LGNS having a fully diluted valuation (FDV) equal to its market cap and 100% of the total supply already in circulation, there is no scarcity-driven catalyst at the moment to offset selling pressure. Additionally, broader market sentiment may be influencing LGNS, as altcoins often react negatively when traders shift funds toward larger, more liquid assets.
Despite the short-term pullback, LGNS still shows strength with 1.81M holders, reflecting strong community participation. The current move looks more like a healthy consolidation rather than a long-term trend reversal.