The Solana meme token $FWOG recently experienced a dramatic 73% drop after its top three major investors liquidated their positions and took profits.
This significant sell-off caused the token’s value to plummet in a short period, shaking the confidence of many holders.
Among the notable traders, one address, known as Smart Money 5CQD2…psn2j, made headlines with a series of strategic moves. Shortly after $FWOG went online, this trader spent 52.6 SOL (approximately $9,510) to acquire 18.1 million $FWOG tokens at an average cost of just $0.0005251 per token.
Top Whales Sell $FWOG 3 Million Tokens To Liquidate Their Entire Holdings
In a savvy move, Smart Money 5CQD2…psn2j sold 3 million tokens at $0.0117 each and continued to liquidate their entire holding over the next 15 minutes. This flurry of activity resulted in a remarkable profit of 795.69 SOL, translating to a staggering return rate of 1512%.
Solana Meme 新秀 $FWOG 的 TOP3 大户清仓止盈了，使得代币短时暴跌 73%
聪明钱 5CQD2…psn2j 在上线 20 分钟后花费 52.6 SOL（9510 美金）买入 1810 万枚 FWOG，成本仅 $0.0005251
随后他在 $0.0117 时卖出 300 万枚代币，又在过去 15 分钟内清仓卖出，累计获利 795.69 枚 SOL，回报率达 1512%⚡️ pic.twitter.com/ZtE1OqAYA2
— Ai 姨 (@ai_9684xtpa) July 30, 2024
This trader, often referred to as the “Frog Prince” due to his extensive trading in frog-themed tokens, didn’t stop at $FWOG. He has also been active in other frog series tokens such as FLOG2, flog, REALFLOG, and FAOG.
Furthermore, this address demonstrated impressive gains with the token NEIRO, where they made a floating profit of $390,000, boasting a return rate of 2410%. The overall winning rate for this address stands at an impressive 62.07%.
除 FWOG 外，他还陆续交易了 FLOG2 / flog / REALFLOG / FAOG 等青蛙系列代币，你甚至不愿意叫他一声「青蛙王子」🤣
值得一提的是，该地址在 NEIRO 上也浮盈了 39 万美金，回报率高达 2410%，地址总胜率达到了 62.07%👀
钱包地址 https://t.co/G7X5fe2Wfv pic.twitter.com/qsWHb1C2cm
— Ai 姨 (@ai_9684xtpa) July 30, 2024
The recent activity surrounding $FWOG highlights the volatile nature of meme tokens and the significant impact that major investors can have on their value. As the market continues to evolve, traders like Smart Money 5CQD2…psn2j showcase the potential for substantial gains, albeit with high risks.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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The post Solana Meme Token $FWOG Sees Massive Sell-Off, Plummeting 73% Amid Major Investor Liquidations appeared first on The Merkle News.
