SafeMoon cryptocurrency received its share of 'pump and dump' reactions by whales across July 2021, and biggies either abandoned ship by booking profits or converted their coins to Ethereum through exchanges.
Whales have prominently set their eyes on SafeMoon since its launch in March 2021 and the price fluctuations has rewarded them handsomely. The coin is a low hanging fruit that's available for purchase at less than a cent and the biggies are making the most out of it.
July 30, 2021
A mysterious SafeMoon investor dumped 2.4 trillion coins and jumped ship booking a large share of profits.
The big sell-off made SafeMoon slump to 28% in the days trade and the coin recovered to 12%. The 'sell order' is the biggest dump the coin has recorded in July. However, the identify of the whale remains a secret.
July 14, 2021
Two mysterious whales dumped a total of 1.3 trillion SafeMoon coins on July 14 and exited the crypto by booking profits. While 'whale number 1' sold -297.8 billion coins, 'whale number 2' sold -737.6 billion coins respectively.
Surprisingly, the same day, SafeMoon saw entry of three other whales buying a total of 2.9 billion coins. While 'whale number 3' brought +1.2 billion coins, 'whale number 4' picked up +881.1 million coins and 'whale number 5' added 888.3 million coins to their respective portfolios.
July 9, 2021
An unidentified and mysterious SafeMoon investor brought a whopping 1.4 trillion coins in the largest pump the coin has ever received in July 2021.
However, it is not clear if the same whale exited the coin on July 14 after booking profits. Interestingly, despite such a large transaction taking place, SafeMoon traded in red the whole time and was down -3.2% in the day's trade.
July 1, 2021
An unidentified SafeMoon investor dumped 498 billion coins a day after the market slumped. Just a day previously on June 30, Bitcoin slipped to 3.5% and the whale fearing further losses, dumped the SafeMoon holdings and made way with whatever profits could be made out of it.
The large sell-off created panic among investors causing a domino effect and day-to-day investors sold their holdings to avoid further losses. However, by the end of the day, SafeMoon bounced back to +1.7% in today's trade.
Recap Of June 23, 2021
Just a quick recap for the previous month of June, a SafeMoon investor had sold a staggering 1 trillion coins on June 23, 2021 during the crypto market crash and exited just right on time before SafeMoon began to nosedive.
The market crash saw Bitcoin dragging every other coins along with it and some fell to new lows with no hopes of recovery.
All the 'whale watching' details was shared by whale watchers on the SafeMoon Reddit page to keep a tab on the day-to-day happenings of the coin.
SafeMoon, at the time of publishing was trading at $0.000002345and is down -12.26% in the days trade. Financial analysts predict SafeMoon would face further corrections due to the bad shape of the global financial market.