One of the first holders of the altcoin sold its reserves after six months of storage and recorded 110,000% of the profit. Against this background, the asset rate collapsed threefold
An unknown investor earned about $ 9 million from the Saitama Inu memorial token. In early June, he invested about $ 8,000 in the asset in Ethereum. Today, November 18, the holder sold the remaining reserves of the coin, triggering a sharp decline in its value. The price tripled in half an hour, from $ 0.000000080 to $ 0.000000025, but then recovered to $ 0.000000060.
Photo: TradingView
This user was one of the first investors in Saitama Inu. He purchased the coin a few days after its issue. Having sold the asset six months later, he recorded more than 110,000% of the profit. At the same time, the unknown remains the holder of another well-known "meme" token, his wallet holds another $ 3.6 million in Floki Inu.
Saitama Inu is a "meme token" that was created in July 2021. Cryptocurrency developers claim that 2% of every transaction on the altcoin network is distributed among its holders. Another 2% is burned to reduce the amount of tokens in circulation.