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Time Details
2024-07-01
07:31
Developer Wallet Swaps SOL for $88022 Tokens, Potential Sell-Off Risk

According to @OnchainDataNerd, a developer wallet recently swapped 150 SOL (approximately $22.1k) for 98 billion $88022 tokens. Subsequently, the developer distributed the tokens across 109 wallets, each containing 890 million tokens. Despite the liquidity being locked, there is a significant risk of selling pressure from the team, potentially driving the token's price down.

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