From Cheers To Tears: Beercoin (BEER) Dries Up, Loses 70% Of Its Value

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Related Reading: Metrics Signal Bitcoin Price Increase – But When Is Anyone’s Guess Fed Tightens The Taps The Federal Reserve’s recent decision to adopt a more hawkish monetary policy, prioritizing inflation control over economic stimulus, has cast a dark cloud over the entire cryptocurrency market.

Related Reading: XRP Whale Goes On Shopping Spree: 27 Million Coins Snapped Up As Price Dips Over the past 30 days, BEER has experienced an unusual trend, recording 100% green days with zero price volatility, an anomaly in typical market behavior.

Although it has been transferred many times, we traced that the wallet received $BEER directly from the #beercoin team wallet “7yfvQX…o9v394” and “8VY4LF…fDd5G2”.pic.twitter.com/oYp41d3Naz — Lookonchain (@lookonchain) June 16, 2024 This mass exodus by insiders, who presumably possess a deeper understanding of Beercoin’s potential or limitations, raises serious red flags for retail investors.

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Article Details

Author / Journalist: Christian Encila

Category: Crypto

Markets: United KingdomCanadaSouth KoreaPhilippines

Topics: Memecoins Cryptocurrency Market News Beercoin Beer Crypto

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-18 @ 10:00:05 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 471 words

Reading Time: 3 minutes read

Sentences: 67 lines

Sentence Length: 8 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 21301308

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About NewsBTC

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