Animecoin (ANIME) has fallen 75% from its launch price despite backing from major crypto exchanges and the popular Azuki NFT project.
The token launched on January 23 with a total supply of 10 billion ANIME tokens. It initially reached $0.1861 before dropping to $0.04605 within four days. This decline occurred even as leading exchanges OKX, Bybit, and Binance added trading support.
Animecoin aims to bridge anime culture with blockchain technology. “We’re building a future where fandom and culture are truly owned by the community,” said Zagabond, Azuki co-founder and Animecoin core contributor. However, early market performance suggests investors remain cautious about the project’s ambitious goals.
The foundation allocated 37.5% of total tokens to holders of Azuki NFTs, making it the largest distribution segment. This decision ties the project closely to the established Azuki brand, which gained prominence in the NFT space since 2022.
Trading volume has remained significant despite price volatility. As of writing (January 27), the token recorded $156 million in 24-hour trading volume, as per data from CoinGecko. This suggests active market participation even as the token’s prices decline.
The project’s broader vision goes beyond crypto trading. Through its platform, Anime.com, which already has a waitlist of 3.3 million users, Animecoin plans to offer exclusive merchandise access, early anime releases, and behind-the-scenes content.
“Imagine reviving a canceled series through community funding or rewarding fan artists for their contributions to an IP. These moments of co-creation are the essence of Anime 2.0,” Zagabond explained to Decrypt.
Market analysts note the token’s performance is quite common for new cryptocurrency projects, particularly those tied to popular entertainment. The token is expected to recover in the next few months. The project also secured partnerships with established names, including Dentsu and AniplexUSA, which showed significant industry support despite the current market turbulence.
Meanwhile, the crypto industry has been seeing significant advancements. U.S. President Donald Trump signed an executive order last week initiating a U.S. Strategic Reserve for digital assets. This move, combined with Binance’s rebranding of Binance Labs to YZiLabs, has created a dynamic environment for new token launches.
Eligible participants can claim their ANIME tokens through March 9, 2025, with different allocation amounts based on their involvement in the Azuki ecosystem and other partner communities.