US Congressman Mike Collins has created ripples in the crypto market with his meme coin and altcoin investments.
US Congressman Mike Collins continues to attract attention with his cryptocurrency investments. Collins most recently came to the fore with his investment in a meme coin called Ski Mask Dog (SKI).
The congressman purchased up to $30,000 worth of SKI on December 1 and 2, according to a Periodic Transaction Report released on Monday, December 2. Each of Collins’ transactions was for between $1 and $15,000.
Interest in Memecoin Soars Its Price
Collins’ SKI purchase was announced by popular X-rated account Unusual Whales, who responded to the post with an image of Pepe the Frog wearing sunglasses.
Following these developments, SKI’s price rose by 116% in 24 hours to $0.2281.
Altcoin Investments Continue
Aside from SKI, the congressman has also invested in an altcoin called Aerodrome (AERO). Collins made two separate purchases on December 1 and 2, bringing AERO up to $15,000.
He also previously bought AERO for as much as $50,000 on July 6, then bought and sold the same asset again on August 5. However, it is noteworthy that AERO has only fallen 0.5% to $1.63 in the last 24 hours.
Collins’ other investments include an altcoin called Velodrome and two Ethereum purchases this year totaling $65,000.
The STOCK Act in the US requires members of Congress to report any investment purchases, sales or exchanges over $1,000. This regulation aims to increase transparency and prevent conflicts of interest.
Collins’ crypto investments continue to attract public attention with their diversity ranging from memecoins to altcoins.
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