Massive Whale Movements in MEME Airdrops
Lookonchain, a Web3 data analysis tool, recently revealed data on two significant whale movements that have attracted the attention of crypto traders and investors. The movement involved receiving massive amounts of MEME airdrops as of November 8, 2022.
MEME Token Surge and Market Speculation
The Memecoin, backed by the Memeland web3 project, has created a buzz in the crypto world with its launch on various exchanges. Since its debut, the token has seen a significant surge of over 2500%, leading to speculation among crypto enthusiasts.
Whale Transactions Reflecting Market Trends
The recent whale transactions involving MEME tokens are reminiscent of Pepe coin’s market trend earlier this year. This similarity has led analysts to anticipate a similar rally for Memecoin as well.
Whales Receiving Millions of MEME Tokens
According to Lookonchain data, addresses such as memeland.eth and degensfund.eth received millions of MEME tokens through airdrops and FireSales from unknown wallet addresses. These transactions amounted to millions of dollars in total.
Memecoin Price Slump and Market Response
The price of Memecoin experienced a marginal downfall recently, dropping by 4.94% to $0.01793. The token’s price also decreased by 33.49% over the past seven days, despite an increase in trading volume.
Despite efforts by Memeland to build support for the community, the token’s price remains in a slump. While there were positive expectations following recent developments by the MEME community, market data suggests otherwise.
Hot Take: Uncertain Future for Memecoin
Despite previous bullish sentiment around Memecoin, the recent price decline has left market enthusiasts uncertain about its future outlook. The community is eagerly awaiting a positive market response amidst the ongoing slump in the token’s value.
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