According to BlockBeats, on February 5th, GMGN monitoring showed that at 8:00 AM today, the market capitalization of CLAWSTR, the Meme coin of the Base ecosystem, plummeted by 87% in a short period. Compared to yesterday's high, its cumulative drop has reached 95%, with a current market capitalization of only about $900,000, representing a 90% drop in 24 hours.
Data shows that many addresses that bought in early and had previously made unrealized profits chose to liquidate their positions at a loss during this round of sell-off. Among them, trader address "0xdc5" had accumulated $175,000 in positions when the market value reached $13.5 million and initially recorded unrealized profits. However, it ultimately cut its losses and exited the market after unrealized losses widened to 70%, incurring a loss of approximately $124,000. In addition, addresses such as "0x090" and "0xca6" also exited the market at a loss after buying in early or adding to their positions during the pullback.
The Meme coin was jointly issued by Nostr founder Derek Ross and Bitcoin ecosystem developer Alex Gleason. As a community support token for Clawstr.com, it surged to a market capitalization of $19.9 million yesterday.
BlockBeats reminds users that Meme coin trading is highly volatile, largely dependent on market sentiment and hype, and has no real value or use cases. Investors should be aware of the risks.
