PEOPLE coin, the governance token of ConstitutionDAO, has attracted widespread attention for its recent price surge. ConstitutionDAO is a decentralized autonomous organization founded in 2021 to raise funds through the DAO to purchase the last privately owned first edition of the United States Constitution at a Sotheby's auction. Despite the final failure of the bid and the announcement that ConstitutionDAO would be permanently closed, #people🔥🔥 coin has seen a number of sharp rises.

Recently, the price of $PEOPLE coin has risen sharply in a short period of time, soaring by more than 590% to its highest level since April 2022. This dramatic price fluctuation has raised market suspicions about possible whale manipulation. According to reports, a large amount of $PEOPLE tokens flowed from exchanges to self-custodial wallets, and whale activity surged, including transactions worth at least $100,000 in PEOPLE tokens. Currently, five whales holding between 100 million and 1 billion PEOPLE tokens control more than 50% of the total supply of PEOPLE.

The future value and development of PEOPLE coin is still full of uncertainty. Although the current market performance of PEOPLE coin seems good, investors should fully understand the risks of the project before considering investing, and pay attention to whether the team can solve these problems. Due to the volatility of the cryptocurrency market, investors should be cautious and be prepared to bear their own risks.