The price of the cult memecoin HarryPotterObamaSonic10Inu, commonly referred to as $BITCOIN, experienced a significant decline following a major sell-off by its largest holder. The holder sold 24 million $BITCOIN tokens for 50.17 WBTC, valued at approximately $3.53 million, on Uniswap. This transaction, which occurred between 6:08 and 6:11 UTC+8, led to a price drop of over 60%. The total market value of the memecoin was reported to be over $200 million prior to the sell-off. In previous months, the holder had invested around $54,000 in Ethereum to acquire nearly 55 million $BITCOIN tokens, indicating a substantial shift in their investment strategy.
