NORMIE, a memecoin which is branded toward “normies” or individuals fresh to crypto, rose by 71,089% between its launch on March 6 and its peak on March 16.
On the day of launch, wallet address 0xb3 got 0.299 Ether from a centralized exchange. That wallet proceeded to send 0.1 Ether to wallet addresses 0x6b and 0x57. On March 6, all three of these wallets purchased NORMIE at a price that was around $0.00007.
The three wallets purchased 24.4 million NORMIE, or 2.4% of the total supply, in 11 transactions. A fourth wallet, 0x45, which was likewise funded from a centralized exchange on March 6, is connected to wallet 0x6b since they sent 0.01 Ether to them on March 9. The wallet had a similar transaction history, purchasing 5.5 million NORMIE in three transactions between March 6 and March 9.
It is unclear whether this group of wallets represents one individual or an entity. So far, these wallets have sold 2.4 million NORMIE (about $59,000). They still hold about 22 million NORMIE, or $2.1 million.
The group or individual in charge of these wallets cannot offload their entire NORMIE holdings in one go because the token’s liquidity pools are only about $2.2 million. A rapid and large-scale sale would most likely cause NORMIE’s market price to crash. As a result, it appears that the holders are gradually selling their tokens in order to avoid having a significant impact on the token’s value.
$NORMIE
$NORMIE, which features some of the freshest memes and highest-production-value content on the Base blockchain, has seen a significant increase since its launch on March 6. Billed as “the people’s coin” the $93 million market cap coin supports the objective of introducing the masses to crypto and enjoys the support of a number of popular crypto Twitter traders, including 0xPajke and larpalt. A memecoin’s success or failure is determined on the quality of its memes, and the $NORMIE team's content game is undeniably impressive.
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