Sheba Asteroid is currently down about 14.82% over the past 24 hours, trading near 0.000368.
This correction comes after Asteroid’s massive 731,582% surge over the past 30 days, leading to significant profit-taking from traders who entered early in the rally.
An unknown trader makes more than a million dollars
The coin made headlines today after blockchain analytics platform Arkham revealed that a mystery trader with just nine followers on X had turned a small investment into a massive win.
According to Arkham, trader @404eq bought about $17,500 worth of ATEROID when the token’s market cap was only approaching $2.5 million. Since then, the wallet’s profits have risen to over $1 million as the meme coin has soared.
He still carries large asteroid bags
The mystery wallet has not yet fully exited the position. Arkham later revealed that the trader sold approximately $118,900 worth of ATEROID and transferred another $187,000 to CookerFlips, but still held approximately $750,000 worth of the token.
This has sparked speculation across cryptocurrency social media about whether the trader is expecting another big rally in the future.
What will happen next?
Right now, the biggest factor driving the asteroid appears to be making profits following its parabolic motion. Therefore, technically, the symbol could stabilize if the buying pressure returns and the price stabilizes above the key level of $0.00035.
However, if Asteroid breaks the support, the next downside target could be close to $0.00034. Traders are also watching whether trading volume will start to return to normal after the recent frenzy.
Was this writing helpful?
The story ends here
Trust with CoinPedia:
CoinPedia has been providing accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert team of analysts and journalists, following strict editorial guidelines based on EEAT (Expertise, Expertise, Credibility and Trustworthiness). Each article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy ensures unbiased reviews when recommending exchanges, platforms or tools. We strive to provide timely updates on everything cryptocurrency and blockchain, from startups to industry specialties.
Investment Disclaimer:
All opinions and ideas shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication accepts responsibility for your financial choices.
Sponsored and advertisements:
Sponsored content and affiliate links may appear on our site. Ads are clearly labeled, and our editorial content remains completely independent from our advertising partners.
Read upcoming news
