PLUME plummets more than 10% after co-founder Eugene Shens death

An hour after the network announced that Shen had passed away, the token plummeted as low as 10.2%. The token took a sharp dive from $0.157 to $0.143 in the span of an hour and 20 minutes. At press time, the token is currently trading hands at $0.147. The token still sits 41% below its previous all-time high, which occurred on March 19. However, it still stands 72% above its lowest level from January 2025.

Users on X began to notice that other traders have started to dump their Plume tokens following Shen‘s death. In the past 24 hours, the token’s daily trading volume has gone up by 46%, amounting to nearly $35.5 million.

“So basically people are dumping $PLUME because of Eugenes death. You investors are a f*cking scambag,” wrote one user on X.

“Just saw that $PLUME co-founder Eugene has passed away. Sad news for the family. A heavy blow for a small investor like me!!!” wrote another user.

Earlier this month, Plume Network co-founder Teddy Pornprinya told crypto.news how the project has been working on an infrastructure layer that would help make tokenized real estate, and other real-world assets more scalable and accessible.