The post Asteroid Shiba Price Down 14% as Mystery Trader Cashes In After 731,000% Rally appeared first on Coinpedia Fintech News
ASTEROID Shiba is currently down around 14.82% in the past 24 hours, trading near 0.000368.
The correction comes after ASTEROID’s massive 731,582% surge over the past 30 days, triggering aggressive profit-taking from traders who entered early in the rally.
Unknown Trader Makes Over $1 Million
The token made headlines today after blockchain analytics platform Arkham revealed that a mystery trader with only nine followers on X turned a small investment into a massive win.
According to Arkham, trader @404eq bought around $17,500 worth of ASTEROID when the token’s market cap was sitting near just $2.5 million. Since then, the wallet’s profits have surged past $1 million as the meme coin exploded higher.
Still Holding Big ASTEROID Bags
The mystery wallet has not fully exited the position yet. Arkham later revealed that the trader sold about $118,900 worth of ASTEROID and transferred another $187,000 to CookerFlips, but is still holding nearly $750,000 worth of the token.
That has sparked speculation across crypto social media about whether the trader expects another major rally ahead.
What Happens Next?
For now, the biggest factor driving ASTEROID appears to be profit-taking after its parabolic move. Hence, technically, the token could stabilize if buying pressure returns and price holds above the key $0.00035 level.
However, if ASTEROID breaks the support, the next downside target could move closer to $0.00034. Traders are also watching whether trading volume begins to normalize after the recent frenzy.