MegaETH's MEGA token drops 38% within 72 hours after Binance and Coinbase listings.

MegaETH's MEGA token launched on major exchanges including Binance and Coinbase on April 30, quickly falling 38% from its peak price of $0.225 to around $0.138 within 72 hours due to heavy selling pressure from public sale participants, airdrop recipients, and early unlock holders. Despite the price decline, MegaETH's total value locked (TVL) rose to nearly $600 million, indicating strong on-chain activity and ecosystem growth independent of the token's price. The token's future depends on meeting performance milestones tied to token unlocks and whether TVL growth can sustain demand. Technical indicators suggest a bearish short-term outlook with key support at $0.134 and resistance near $0.156.