MAGA 2024

MAGA

<ul class="news-points">
 <li>Insider selling activity in MEMEcoin (MAGA) prompts concern as one entity controls a significant portion of the token supply.</li>
 <li>Technical analysis signals a bearish trend for MAGA, prompting traders to consider short positions or await reversal signals.</li>
 <li>Ethereum’s bullish surge contrasts with cautionary RSI levels, indicating potential price corrections despite its impressive 18.07% gain.</li>
</ul>
Lookonchain, an on-chain <a href="https://lookonchain.com/" target="_blank" rel="noopener noreferrer nofollow">analytics platform</a>, has identified significant insider selling activity affecting the MEMEcoin ($MAGA) on the Ethereum blockchain.
According to their report, an insider utilized 22 separate wallets to acquire an initial holding of 140.4 billion <a href="https://coinedition.com/trump-themed-memecoin-maga-surges-60-in-a-week-amid-trumps-remarks/" rel="noopener noreferrer nofollow">MAGA</a> tokens, representing one-third (33.37%) of the total supply, for a mere 5.35 ETH (approximately $19,586). Subsequently, the insider sold 79.9 billion MAGA tokens for 320 ETH (roughly $1.05 million), retaining a holding of over 60.5 billion MAGA tokens, currently valued at more than $9 million.
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 Note that an insider is selling <a href="https://twitter.com/hashtag/MEMEcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#MEMEcoin</a> <a href="https://twitter.com/search?q=%24MAGA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$MAGA</a> on <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Ethereum</a>! The insider spent 5.35 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a>($19,586) to buy 140.4B <a href="https://twitter.com/search?q=%24MAGA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$MAGA</a>(33.37% of supply) with 22 wallets. So far, the insider has sold 79.9B <a href="https://twitter.com/search?q=%24MAGA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$MAGA</a> for 320 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a>($1.05M)…
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The post <a href="https://coinedition.com/insider-selling-hits-maga-token-on-ethereum-price-declines/" rel="noopener noreferrer nofollow">Insider Selling Hits MAGA Token on Ethereum, Price Declines</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Insider Selling Hits MAGA Token on Ethereum, Price Declines

Coin Edition

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