LookonChain’s analysis recently reported that another major wallet associated with the Beer Coin is on a selling spree, causing the price to plummet by over 80% in the last few days. Despite Beer Coin’s initial excitement and strong community, it now seems to be the end. Recently, the coin was listed on the Raydium decentralized exchange and other DEXes on the Solana blockchain.
For those who missed it, Beer Coin is a German meme cryptocurrency launched a few weeks ago. It managed to surge in price during its pre-sale phase, reaching a market cap of over $300 million. Promoted by numerous influencers, Beer Coin, fundamentally without a real use case, represented beer and aimed to unite people globally. It was purely a meme coin that gained significant traction through effective marketing and promotions, driving its price and market cap up rapidly.
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