As per Chainthink, on December 26, a top holder of Solana-based Meme coin '67' (address H4s6) dumped 20.1 million tokens in a short period, causing the price to crash 74% from $0.019 to a low of $0.005. The address had initially bought the tokens for $514,000 at an average price of $0.0246, but sold them at $0.0107, incurring a $290,000 loss, or 56.1%. The rapid sell-off wiped out all buy orders between $0.005 and $0.019, allowing the seller to exit quickly.
Solana Meme Coin '67' Price Plummets 74% After Major Holder Sells 20.1M Tokens
ChainthinkShare
Summary
Solana-based meme coin '67' saw sharp price action on December 26 after a major holder dumped 20.1 million tokens, sending the price down 74% to $0.005. The seller, address H4s6, initially bought the tokens for $514,000 at $0.0246, but sold at $0.0107, taking a $290,000 loss. The move wiped out buy orders between $0.005 and $0.019, highlighting a poor risk-to-reward ratio for the trade.
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