According to Lookonchain, ZKJ experienced a price drop of more than 63% on June 15, 2025, resulting in over $99 million in liquidations. The sudden crash was triggered by a large-scale sell-off, as reported by Lookonchain, with significant on-chain movements indicating that a major holder or coordinated group likely initiated the downturn. This event caused cascading liquidations across exchanges, amplifying volatility and impacting both spot and derivatives traders. The ZKJ crash has heightened risk perceptions around newly listed tokens and underscores the importance of monitoring on-chain activity for trading signals. The broader cryptocurrency market showed increased volatility in response, with traders advised to adopt tighter risk controls and closely track whale movements for ZKJ and similar tokens. (Source: Lookonchain, June 15, 2025)

According to Lookonchain, on-chain data revealed that prior to the ZKJ crash, numerous wallets began removing liquidity from both ZKJ and KOGE pools. Traders were observed exchanging KOGE for ZKJ and then rapidly dumping ZKJ, contributing to the price decline (source: Lookonchain via Twitter, June 15, 2025). These liquidity movements served as early warning signs for active traders, indicating potential volatility and increased risk in both ZKJ and KOGE markets. Monitoring such wallet activity can provide valuable insights for short-term trading strategies during periods of market instability.