An unidentified mysterious investor has dumped 1 trillion coins of SafeMoon during the crypto market crash, abandoning ship with whatever profits could be made out of it.
The big sell-off saw a slump in the trade causing a domino effect of panic selling, making regular investors sell their holdings to save their investment from further beating.
A Reddit user shared the proof of the selloff from 'SafeMoon whale watch' on a subreddit group and investors were amazed to see the tremendous volume of the holdings being dumped by the biggie.
Several investors dropped their comments citing the big players, commonly known as whales, are indeed making profits by buying and dumping in large quantities. This is eventually eating up all their investments and the smaller investors have to bear the brunt of every crash.
A lot of users dropped names as to who the big whale might be, which includes billionaire entrepreneurs and celebrities but none of them can be taken at face value as the sellers' identity has not been made public officially.
The cryptocurrency market is trading in blood red as every coin in the listing is hammered down to knees after China cracked the whip on crypto trading as the Communist country's Central Bank warned financial institutions against dealing with cryptocurrencies and its related services.
Several coins reached their lifetime lows fearing they might cease to exist and the popular newbie SafeMoon crypto continued its downward spiral falling nearly 3.5% in its day trade and has now picked up steam but is still trading very low at $0.000003489 at the time of publishing.
Also, a group of crypto enthusiasts banded together on Twitter hoping to boost SafeMoon during the crash and began trending the hashtag #SafeMoonSqueeze similar to the Game Stock price boost but their effort went in vain as the market was brutal during the slump.
SafeMoon rose to fame after the rise of Dogecoin and both promised its investors 'the moon' but are currently going the opposite direction. We will have to wait and watch if the newer coins really shoot to the moon or fall to the ground, only time will tell.