• Whale sells 10k BNB after two years of inactivity at a rate of $230 per token.
• The whale made significant returns from investing in the safemoon meme coin previously.
• BNB is currently trading at $230, representing a 66.3% decline from its all-time high in May 2021.
Whale Sells 10k BNB
A whale that has been inactive for two years sold 10,000 BNB at $230 per token ($2.3 million at the current rate). The whale was an early SAFEMOON investor who swapped 10 BNB for 100 trillion SAFEMOON and made a profit of 110,000 BNB, worth $47.5 million at that time.
BNB Price Analysis
At the time of writing, Safemoon is 99% down from its all-time high in May 2021. BNB is currently trading at $230.49, representing a 66.3% decline from its all-time high in May 2021 and -23.28% drop in the past 7 days with a market cap of $35,836,973,018 circulating supply of 160 Million BNB coins being traded on exchanges daily.
Meme Coins as Games Of Chance
Some analysts have referred to investing in meme coins as a game of chance while others believe that if these super-volatile assets are purchased at the right time one could make large gains or losses quickly due to their volatility and lack of real value backing them up as investments vehicles .
Warning To Investors
Most people that make money on memecoins & shitcoins are either whales who understand how to manipulate markets or insiders who created them hence it is advised that investors should be careful when investing into such assets as they can lead to large losses quickly .
Conclusion
The price of BNB has dropped below the critical support level this week amidst legal battle with U.S authorities so investors should always do their own research before investing into any asset class especially those with no underlying values like meme coins and shitcoins