CLAWSTR Meme Coin Market Cap Plunges 95% in One Day, Multiple Profit-taking Addresses 'Sell the Top'

BlockBeats News, February 5th, according to GMGN monitoring, at 8:00 a.m. today, the Base ecosystem Meme coin CLAWSTR experienced a rapid 87% market value plunge. Compared to yesterday's peak, its total decline has reached 95%, with the current market value only around 900,000 US dollars and a 90% decrease in the past 24 hours.

Data shows that in this round of sell-off, multiple early buyers who had previously made profits chose to liquidate at a loss. Among them, the trader address '0xdc5' had accumulated a $175,000 position when the market value rose to $13.5 million and had realized profits at one point. Eventually, after the paper loss expanded to 70%, they exited at a loss of around $124,000. In addition, addresses such as '0x090' and '0xca6' also either bought early or added to their positions during a pullback, but ended up exiting at a loss in this downturn.

This Meme coin was jointly issued by Nostr founder Derek Ross and Bitcoin ecosystem developer Alex Gleason as the community support token for Clawstr.com. Yesterday, it surged to a $19.9 million market value.

BlockBeats reminds users that Meme coin trading is highly volatile, heavily reliant on market sentiment and concept hype, lacks practical value or use cases, and investors should be aware of the risks.