SatoshiVM Whales Continue to Accumulate SAVM Tokens
Recent data from blockchain tracking platform Lookonchain reveals that despite the recent 30% price drop, whales in the SatoshiVM (SAVM) ecosystem have been actively accumulating more tokens. One whale with the address ‘0xe939’ purchased 24,940 SAVM tokens worth $200,000 during the dip. Another whale with the address ‘0x0c00’ invested $50,000 to acquire 7,543 SAVM tokens. These whales currently hold a total of 118,187 and 193,676 SAVM tokens respectively.
Dispute with Ape Terminal Causes SAVM Price Crash
The decline in SAVM’s price can be attributed to a dispute involving Ape Terminal, a fundraising platform. MacnBTC, an advisor to SatoshiVM, accused Ape Terminal of fraudulent activities during the Initial DEX Offering (IDO). They claimed that all SAVM token allocations were unfairly distributed to Ape Terminal’s team members. In response, Ape Terminal denied these allegations and accused MacnBTC of profiting from the token sales.
SAVM Price Plunge and Market Statistics
As a result of the controversy, the price of SAVM dropped by over 35%. Currently trading at $7.92, it has experienced a significant plunge of 27.57%. However, despite the price crash, the trade volume for SAVM has increased by 95.45% to $49.79 million in the last 24 hours. The market cap of SAVM stands at $53.21 million.
Hot Take: Whales Remain Optimistic Amidst Price Volatility
Despite the recent price crash, whales in the SatoshiVM ecosystem have continued to accumulate SAVM tokens, indicating their belief in the project’s long-term potential. While the dispute with Ape Terminal has caused significant volatility in the SAVM market, it remains to be seen how the situation will unfold and whether it will impact the overall trajectory of SatoshiVM. As an investor or crypto enthusiast, it is important to stay updated on these developments and exercise caution when navigating the volatile cryptocurrency market.