SatoshiVM Sparks Curiosity with Colossal Transfers
An address associated with SatoshiVM, the SAVM token, recently made massive transfers to over 200 addresses, attracting the attention of traders and investors worldwide. On-chain data reveals that the address moved a staggering 1.21 million SAVM tokens to various addresses. This has led to speculation about the purpose behind these transfers and its impact on the token’s price.
Details of the Transfer
Lookonchain, a platform providing on-chain metrics, has revealed that SatoshiVM transferred 1,217,818 SAVM tokens to 248 different addresses linked to influencers. Notably, one of these addresses belongs to Thor Hartvigsen, which has further fueled speculation surrounding the transfer.
The transferred coins amount to $10.5 million, representing 11.5% of the token’s total supply. Such significant transfers often result in notable price movements for a token.
Out of the total transferred amount, the addresses still hold 483,493 SAVM tokens worth $4.16 million, while 734,325 SAVM tokens were either sold or transferred.
Trader Profits and Market Speculation
In another development related to SAVM, a trader reportedly earned a profit of $6.77 million using Banana Gun. This event has further fueled speculation among crypto enthusiasts and aligns with the recent noteworthy transfers.
SAVM Price Drops
The price of SatoshiVM has experienced a significant drop of 10.74% in the past 24 hours and is currently trading at $9.91. However, the token has seen a 9.11% increase on its weekly chart and a 9.58% rise over the month. The market cap remains at $68 million, while the trading volume has decreased by 38.74% to $73.66 million.
Hot Take: Curiosity Surrounds SatoshiVM’s Colossal Transfers
The recent colossal transfers made by SatoshiVM have sparked curiosity and speculation in the crypto market. Traders and investors are closely watching these movements and their potential impact on the price of SAVM. As the market reacts to these transfers, it remains to be seen how the token’s value will be affected in the coming days. With significant amounts of SAVM being moved to various addresses, it is clear that there is interest and activity surrounding this token.
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