Lester Token Crashes 40% Following Official Announcement

2024-11-22 03:55:58

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The value of $LESTER plummeted by 40% in the past 24 hours, leaving its market capitalization at a mere $32.7 million.

This sharp decline came shortly after the official Twitter account announced that Lester would continue as the project’s mascot.

Prominent investor @bazingahappy has felt the impact of the downturn. On March 15, they invested $2.3 million in $BOME and, on November 15, spent 3,217 SOL (equivalent to $670,000) to purchase 4.37 million $LESTER tokens. However, the recent slump has wiped out $530,000 from their holdings, shrinking their investment by a staggering 78.7%.

More Whales Make Strategic Moves With $LESTER Token Following Recent Price Action

Despite these losses, @bazingahappy doubled down on $LESTER after the mascot confirmation 13 hours ago, acquiring an additional 10.2 million tokens. At an average cost of $0.07752 per token, this move highlights a calculated risk in the face of market volatility.

Interestingly, while $LESTER’s performance has been disappointing, @bazingahappy has demonstrated notable success in other ventures. Their high-frequency trading in memecoins has proven lucrative, with a single trade in $PNUT yielding over $10 million in profit.

The mixed fortunes of $LESTER underscore the unpredictable nature of the memecoin market, where sentiment-driven swings can lead to substantial gains or losses. While some investors remain optimistic about $LESTER’s long-term potential, the mascot announcement and subsequent sell-off suggest challenges ahead in regaining investor confidence.

For now, the market remains wary, with $LESTER facing an uphill battle to recover its value. Whether the community can rally behind the mascot and revive momentum remains to be seen.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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The post Lester Token Crashes 40% Following Official Announcement appeared first on The Merkle News.

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