SOON Plummets 41% Amid Manipulation Claims, Team Announces Recovery Plan

The altcoin SOON experienced a sudden 41% drop on July 5, 2025, sending shockwaves through the cryptocurrency market. In response, the team behind the project published a detailed analysis report attributing the incident to a coordinated market manipulation. The report emphasized that official market makers and foundation wallets were not involved in the attack.

Following the sharp price decline, the SOON team announced a comprehensive recovery plan aimed at restoring market confidence, reducing supply pressure, and supporting the long-term growth of the SOON ecosystem. The plan consists of four key measures:

The first measure involves a token burn plan, where the team will permanently remove 30,000,000 SOON tokens from circulation, equivalent to 3% of the total supply. This action is designed to reduce the available supply and support price stability in the face of recent market volatility.

The second measure is the introduction of a new on-chain product that will allow the SOON Foundation to periodically repurchase tokens directly from holders. This buyback mechanism is intended to further reduce supply pressure and stabilize the token's value.

The third measure is the launch of the SOON Governance System. This system will enable token holders to participate in key decisions that shape the future of the SOON ecosystem, including treasury allocations, protocol upgrades, and ecosystem grants. By involving the community in governance, the team aims to foster a more decentralized and transparent decision-making process.

Finally, to increase transparency and engagement with the community, the team will host a Twitter AMA next Wednesday. The AMA will feature the founder, Joanna, and the Marketing Manager, Henry, providing an opportunity for the community to ask questions and gain insights into the team's plans and strategies.

The SOON team's proactive approach to addressing the price crash and implementing a comprehensive recovery plan demonstrates their commitment to the long-term success of the project. By taking decisive actions to reduce supply, enhance governance, and engage with the community, the team aims to restore market confidence and support the growth of the SOON ecosystem. The success of these measures will depend on the team's ability to execute the plan effectively and maintain transparency throughout the process.