Troll (OLD)

when

Elon Musk

TROLL, the <a href="https://news.todayq.com/bonk-solana-resumes-bullish-rally-as-meme-coins-shine/" target="_blank" rel="noopener noreferrer nofollow">meme coin</a> supposedly associated with Elon Musk due to its whimsical name, has witnessed a staggering 58% drop in its market value. The sudden collapse has left many investors scratching their heads, trying to make sense of the market chaos. Why did the meme coin crash? 
The primary cause behind TROLL’s downward spiral appears to be a series of massive transactions by significant holders. One wallet, identified as 0xa7a0, went on a buying spree, accumulating trillions of TROLL tokens in five separate transactions. This big purchase made the wallet one of the top holders of this unique digital money. People think the reason behind buying so much is uncertain, but some say it might be a risky strategy. They call it “spray and pray,” where you buy many different things, hoping that some of them will make a lot of money.
On the flip side, another major holder, known by the address 0x97b8, took a different approach. This <a href="https://news.todayq.com/jup-investors-bags-over-130-returns-after-binance-listing/" target="_blank" rel="noopener noreferrer nofollow">investor</a> invested in TROLL six months before the recent pump, navigating through both bullish and bearish market conditions. This strategic move resulted in a portfolio value of around $1.2 million. Although some profits were realized, the illiquid nature of TROLL raises concerns. Attempting to liquidate even half of these holdings could potentially cause further devaluation of the token. Elon Musk’s comment 
The cataclysmic downturn of TROLL’s market price is undeniably linked to substantial profit-taking by these major accounts. Their actions contributed significantly to the nearly 60% devaluation of the coin. While there may be speculation and rumors linking Elon Musk to TROLL, it’s important to note that Musk has never endorsed the token. Any assumptions connecting Musk’s statements to direct influence on TROLL’s market behavior are unfounded.
Elon Musk, known for his playful approach to social media, once humorously referred to himself as the “Chief Troll Officer” at <a href="https://news.todayq.com/elon-musks-x-rebranding-of-twitter-aims-for-a-financial-revolution/" target="_blank" rel="noopener noreferrer nofollow">X</a>. However, this quip holds no actual connection to the TROLL token. With TROLL’s value dropping, investors should rethink their plans and think about the dangers of investing in meme coins. The market, influenced by both major holders and external factors, can be unpredictable. Elon Musk’s playful comments may bring humor, but when it comes to investments, a cautious and informed approach is key.
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Elon Musk’s this alleged meme coin crashes 58%, What’s behind the freefall

Todayq News

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