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Multisignature wallet moves COOKIE tokens in millions, causing market changes.
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COOKIE token price drops 27.5% after large sale, signaling market impact.
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The market cap of COOKIE is $157.72M, with 30.12% total supply in circulation.
Binance announced that it would list COOKIE. A multi-signature wallet linked to the project made some major moves. Binance announced that it would list the COOKIE token just eight hours later. This triggered a COOKIE sale.
The wallet still contains approximately the same amount COOKIE, valued around $11.33million. The COOKIE market has become very volatile as a result of all this activity.
Tracing COOKIE Transfers
The COOKIE transfers began with the “Cookie:Deployer” address. This moved 75,000,000 COOKIE (worth approximately $8.92million) to a probable wallet with multiple signatures labeled “Cookie:Multisign (likely), 0x458.”
Then, another 20,000,000 tokens (worth approximately $1.3 million) were sent to the address “0xf467db17…967.” These tokens were then sent to Binance where 20 million COOKIE (worth $12.7 million) were deposited.
Binance 6 was the final stop, where 20 million COOKIE tokens were sent.
The price of COOKIE tokens has dropped
What happened to the COOKIE token price? 20.001 COOKIE tokens were sold at an average price per token of $0.619 for $12.375 Million. The token’s value jumped up before the sale, but then quickly dropped after.
Read Also: Binance Expands Market with New Token Contracts
This price drop occurred at the same time that the sale took place, showing how this massive transaction affected the market sentiment and token price. COOKIE’s price dropped by 27.5% within 24 hours to $0.531.
After the price spike, trading volume also decreased. This could indicate that the market is entering a phase of consolidation. COOKIE has a market cap of $171.09 millions, and there are 321,637.101 tokens in circulation. This is 30.12% the total supply which is capped to 1 billion tokens.
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