TradingBeats, formerly Hyperinsight, said on Aug. 18 that the top holder address of the meme token "Niulai" has kept selling after the token was listed on Binance Alpha. The address has sold about $360,000 worth of tokens through 43 separate transactions, with an average market capitalization of $38 million at the time of sale. The tracked address has realized total profit of $345,700 and still holds tokens valued at roughly $486,000. GMGN market data showed Niulai's market capitalization remained at $38 million at the time of reporting. BlockBeats also cautioned that many meme coins do not have practical use cases and can see sharp price swings, urging investors to stay cautious.
On Aug. 18, TradingBeats, formerly known as Hyperinsight, said the top holder address of the meme token "Niulai" has continued to sell after the token went live on Binance Alpha.
According to the tracking data, the address has sold about $360,000 worth of tokens through 43 transactions. The token's average market capitalization during those sales was $38 million. Total profit from the position was listed at $345,700, while the address still holds tokens worth about $486,000.
GMGN market data showed that Niulai's market capitalization was holding at $38 million at the time of reporting.
BlockBeats cautioned that many meme coins lack practical use cases and can carry large price swings, and said investors should remain cautious.
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