The top holder of the popular meme coin HarryPotterObamaSonic10Inu, also known by its ticker \u201cBITCOIN,\u201d is alleged to have offloaded a massive 24 million tokens resulting in a 60% price crash.<\/p>\n
Blockchain tracker Lookonchain was the first to report<\/a> the transaction, in which the anonymous holder exchanged 24 million units of the meme token for 50.17 wrapped Bitcoin (wBTC), worth about $3.53 million.<\/p>\n On-chain data shows the individual completed the sale on Uniswap between 6:08 and 6:11 UTC+8 on November 1. Minutes after the transaction, crypto price tracking websites like CoinGecko and CoinMarketCap recorded a sudden and severe dip in the meme coin\u2019s price, going from about $0.257541 to $0.143371.<\/p>\n However, the price soon started an upward trajectory, jumping to $0.209731 before making further gains to settle around the $0.2269 level.<\/p>\n At the time of writing, HarryPotterObamaSonic10Inu was 15.3% below its value from 24 hours ago, with the dip a more pronounced 27% across 14 days. However, over 30 days, the price still reflects a 70.8% uptick, with those holding the coin in the last year seeing a 56% rise in the value of their investment.<\/p>\n The anonymous seller has a history with the meme token, initially purchasing 54.8 million between May and June 2023. For these, they spent nearly 30 ETH, which, at the time, translated to about $54,000.<\/p>\n Following that, they have sold portions of their holdings, including a previous transaction of 28.8 million coins for 21.4 ETH, ultimately achieving a profit of $3.51 million.<\/p>\n Since its launch, HarryPotterObamaSonic10Inu has gained a considerable following. Operating on the Ethereum blockchain as an ERC-20 token, it features an eccentric combination of unrelated pop culture icons, including fictional child magician Harry Potter, former U.S. President Barack Obama, and popular cartoon character Sonic the Hedgehog.<\/p>\n It currently holds a market value exceeding $225 million, with a supply of close to 1 billion tokens, featuring a no-tax model for all trades.<\/p>\n As reported<\/a> by CryptoPotato<\/em>, the meme coin was one of five listed by popular X analyst Murad as a potential top performer in a bull cycle. The expert cited HarryPotterObamaSonic10Inu\u2019s \u201cdelusional, stubborn, and relentless\u201d community as being important to any future price growth.<\/p>\n The post Major Sell-Off by Largest HarryPotterObamaSonic10Inu (BITCOIN) Holder Sparks 60% Price Drop<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The top holder of the popular meme coin HarryPotterObamaSonic10Inu, also known by its ticker \u201cBITCOIN,\u201d is alleged to have offloaded a massive 24 million tokens resulting in a 60% price crash. Blockchain tracker Lookonchain was the first to report the transaction, in which the anonymous holder exchanged 24 million units of the meme token for […]<\/p>\n","protected":false},"author":0,"featured_media":17184,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17183"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17183"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17183\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/17184"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Profit-Taking Amidst Meme Coin Craze<\/h2>\n
Unique Community Appeal and Volatility Risks<\/h2>\n