Notably, addresses involved retained 483,493 SAVM valued at $4.16 million, while 734,325 SAVM were sold or transferred.
Saturday’s colossal transfers to more than two hundred addresses by SatoshiVM, an address orbiting the SAVM token, ignited immense interest among traders and investors worldwide, generating considerable excitement throughout the cryptocurrency market.
On-chain data recently surfaced over the crypto horizon indicates that the address transferred a staggering 1.21 million SAVM to multiple addresses. In the interim, the price of these tokens experienced a significant decline today, which sparked further conjecture regarding the transfer and the token’s valuation.
Lookonchain, a platform that provides on-chain metrics, disclosed on-chain data indicating that on Saturday, January 20, SatoshiVM transmitted an astounding 1,217,818 SAVM to multiple addresses associated with influencers.
The data demonstrates that these tokens were dispatched to 248 distinct addresses, garnering considerable international attention.
Surprisingly, the token was also received by a wallet associated with Thor Hartvigsen from one of these addresses, generating further conjecture regarding the transfer.
Furthermore, a staggering $10.5 million worth of coins were transferred, representing 11.5% of the token’s total supply.
This appears to have piqued the market’s interest, as such enormous transfers typically cause substantial price fluctuations for a token.
In the interim, these addresses retained 483,493 SAVM valued at $4.16 million, while 734,325 of the token were sold or transferred.
Moreover, in a recent analysis concerning the token, a trader successfully generated a $6.77 million profit by employing the banana gun strategy.
This phenomenon fueled speculation among cryptocurrency market devotees worldwide, coinciding with today’s significant transactions.
The SAVM Cost Plummets
As of this writing, the price of SatoshiVM has decreased significantly over the previous twenty-four hours, falling by 10.74% to $9.91.
Conversely, the weekly chart for the token exhibited an increase of 9.11%, coupled with a monthly surge of 9.58%. Significantly, the market capitalization remained unchanged at $68 million today, while the trading volume decreased by 38.74% to $73.66 million.
