On the Solana blockchain, a large holder of Meme coin "67" sold off at a loss, causing its price to plummet by as much as 74%.
TL;DR
A major holder of Solana meme coin '67' sold all 20.1 million coins at a loss, causing a 74% price drop from $0.019 to $0.005, with a $290,000 loss. The price later rebounded to around $0.014.
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[Solana On-Chain Meme Coin "67" Major Holder Sells Off at a Loss, Causing Price to Plunge 74%] According to Mars Finance, on December 26th, GMGN monitoring showed that at 9:00 AM today, a top-ranking address (H4s6) on the Solana on-chain Meme Coin "67" shortly sold off all 20.1 million coins it held, causing the price of "67" to plummet by 74% from $0.019, reaching a low of $0.005, and has since rebounded to around $0.014. This address had previously purchased $514,000 worth of coins at an average price of approximately $0.0246. Due to the continued decline in the price, it ultimately sold off its holdings at an average price of $0.0107, incurring a loss of approximately $290,000, a loss rate of 56.1%. During this sell-off, the address quickly broke through all buy orders within the $0.005 to $0.019 range, exiting the market rapidly.