Meme coin TROLL has experienced a very significant decline recently, witnessing a 58% decrease in its value. The main reasons behind this collapse include large-scale transactions and significant shareholders divesting from TROLL tokens.
Since TROLL is a speculative meme coin, it has managed to be at the center of large-scale transactions. For example, an investor identified by the wallet address 0xa7a0 gained attention by purchasing trillions of TROLL tokens in five separate transactions, maintaining his status as one of the largest holders of the digital asset. The investor appears to have purchased a wide range of assets in the hope that they will provide significant returns and adopted an investment strategy accordingly.
In contrast, another investor, known by the address 0x97b8, decided to invest in TROLL six months ago and made a significant return. This strategy allowed the investor to grow his portfolio to approximately $1.2 million and was able to make a profit during the recent crash in TROLL. This shows the diversity between the risks taken and the strategies applied by different investors investing in the same asset.
Despite the impressive value of these assets, the facts can be sobering due to TROLL’s poor liquidity. It is extremely unlikely that these investors will be able to cash out even half of their stated value without causing the token to decline further.
This significant decrease in the market price of TROLL occurred due to the fact that especially large account holders sold their TROLL tokens in large quantities.
#PeckShieldAlert #slippage $troll -58%#ElonMusk pic.twitter.com/Zi0KB9Cbyg
NEWS CONTINUES BELOW— PeckShieldAlert (@PeckShieldAlert) January 31, 2024
It is also worth noting that; Although Elon Musk once joked that he was the “Chief Troll Officer” at X (formerly Twitter), he has no connection to the meme coin TROLL. Musk has never shared anything in support of TROLL.
You can follow the current price movement here.