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The WallStreetBets token (WSB), which is linked to the WallStreetBets subreddit, dropped 90% within the final 24 hours following an enormous run larger that had seen its market cap soar to $50 million in beneath three days. The plunge got here after one of many insiders linked to the challenge, @zjzWSB, dumped a considerable amount of tokens in return for 334 ETH ($635,000). Blockchain sleuth @ZachXBT flagged the transactions on Twitter, which appeared to set off the mass promoting, bringing concerning the 90% crash. Customers had beforehand obtained an airdrop of practically seven ether value of WSB tokens for merely pasting their crypto pockets addresses on Twitter. This helped the tokens go viral on Crypto Twitter, forming a part of the continuing memecoin frenzy, which has additionally spawned the likes of PEPE.
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