{"id":1367,"date":"2025-05-29T11:40:51","date_gmt":"2025-05-29T11:40:51","guid":{"rendered":"https:\/\/bitunikey.com\/news\/plume-plummets-more-than-10-after-co-founder-eugene-shens-death\/"},"modified":"2025-05-29T11:41:10","modified_gmt":"2025-05-29T11:41:10","slug":"plume-plummets-more-than-10-after-co-founder-eugene-shens-death","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/plume-plummets-more-than-10-after-co-founder-eugene-shens-death\/","title":{"rendered":"PLUME plummets more than 10% after co-founder Eugene Shen\u2019s death"},"content":{"rendered":"
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Traders have started dumping the Plume token, bringing the price down more than 10% following the death of the network\u2019s co-founder and CTO, Eugene Shen on May 29.<\/p>\n

On May 29, the network\u2019s official X account announced<\/a> that its co-founder and Chief Technology Officer, Eugene Shen, has passed away earlier this week. Although the cause of death was not mentioned, the post seemed to imply that Shen\u2019s death came suddenly.<\/p>\n

\u201cWe\u2019re in shock. Eugene was brilliant, deeply curious, and brought so much talent and heart to everything he did. Our thoughts are with his family and loved ones,\u201d wrote the protocol.<\/p>\n

Shen played a pivotal role in shaping the Plume Network, a blockchain platform focused on real-world asset tokenization. Previously, he also held senior engineering positions at major firms like Robinhood and dYdX, contributing to the development of trading infrastructure and blockchain scalability solutions.<\/p>\n

Under his technical leadership, Plume Network achieved significant milestones, including raising $30 million in funding and onboarding over 180 projects to its ecosystem. It has also gained support from major firms like Binance\u2019s YZi Labs and Apollo Global.<\/p>\n

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Price chart for PLUME in the past few hours, showing a sharp dip in its price, May 29, 2025 | Source: CoinGecko<\/a><\/figcaption><\/figure>\n

<\/p>\n

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.<\/p>\n

Users on X began to notice that other traders have started to dump their Plume tokens following Shen\u2019s death. In the past 24 hours, the token\u2019s daily trading volume has gone up by 46%, amounting to nearly $35.5 million.<\/p>\n

\u201cSo basically people are dumping $PLUME because of Eugene\u2019s death. You investors are a f*cking scambag,\u201d wrote one user on X.<\/p>\n

\u201cJust saw that $PLUME co-founder Eugene has passed away. Sad news for the family. A heavy blow for a small investor like me!!!\u201d wrote another user.<\/p>\n

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.<\/p>\n

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\n Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. <\/p>\n<\/p><\/div>\n

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Traders have started dumping the Plume token, bringing the price down more than 10% following the death of the network\u2019s co-founder and CTO, Eugene Shen on May 29. On May…<\/p>\n","protected":false},"author":1,"featured_media":1368,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1367","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/1367","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=1367"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/1367\/revisions"}],"predecessor-version":[{"id":1369,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/1367\/revisions\/1369"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/1368"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=1367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=1367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=1367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}