That’s not how these numbers work. A $12b drop in market cap in no way suggests a real $12b was ever involved. I don’t know the specific numbers to this coin, but say there’s 12b coins sitting at $2 each and someone sells 100,000 coins. That looks like $200,000 until you sell the 35466th coin when you blow through all the $2 buy orders. Now you hit a wall where people didn’t like $2 and only want to buy at $1.50. The seller ended up with $70,000 at $2 plus like $90,000 at $1.5 but the market cap just dropped $6,000,000,000.
Again, these aren’t real numbers to apply to this coin, just an attempt to illustrate how funny reporting on market cap numbers really are. My example is definitely a little extreme.
So it’s probably just some greedy pig boy that tried to pull out a couple mil suddenly, and the buy wall didn’t hold. Weak ass rugpull, 14 year olds do better
I’m guessing this was a roundabout laundering / buying power thing.
So while some of his fans lost money, I doubt they’re rich enough to lose $12B.
What happened was $12B was intentionally moved from some people to another.
That’s not how these numbers work. A $12b drop in market cap in no way suggests a real $12b was ever involved. I don’t know the specific numbers to this coin, but say there’s 12b coins sitting at $2 each and someone sells 100,000 coins. That looks like $200,000 until you sell the 35466th coin when you blow through all the $2 buy orders. Now you hit a wall where people didn’t like $2 and only want to buy at $1.50. The seller ended up with $70,000 at $2 plus like $90,000 at $1.5 but the market cap just dropped $6,000,000,000.
Again, these aren’t real numbers to apply to this coin, just an attempt to illustrate how funny reporting on market cap numbers really are. My example is definitely a little extreme.
So it’s probably just some greedy pig boy that tried to pull out a couple mil suddenly, and the buy wall didn’t hold. Weak ass rugpull, 14 year olds do better