According to Odaily, Solana's Meme coin WATER, which previously raised over $40 million in presale, has experienced a substantial amount of insider trading activity. The Fully Diluted Valuation (FDV) of the coin, which once peaked at $1 billion, has drastically decreased and is now below $30 million.
Data from CoinGecko reveals that the current price of WATER is $0.0003002, with a 24-hour drop of 71.2%. The FDV stands at $27,377,385. This significant drop in value and the high volume of insider trading activity have raised concerns among investors and market watchers.
The insider trading activity and the subsequent decrease in the coin's value highlight the volatility and risks associated with investing in cryptocurrencies. Investors are advised to exercise caution and conduct thorough research before investing in any digital assets.