Smart Traders Continue to Bet on $CULT Despite Controversial Launch and Price Decline

2024-12-13 11:38:15

Despite the controversial launch and ongoing price decline, $CULT (@MiladyCult) is still attracting attention from several sharp traders who believe in its potential

One notable trader, “0x572,” made a significant move just six hours ago, investing 207 ETH (worth about $754K) to acquire 127.89 million $CULT tokens. This move comes after a string of profitable investments, with the trader currently holding $1.76 million in unrealized profits from positions in $MOG (+244%) and $PEPE (+187%).

Another prominent figure, blurr.eth (@blurr_eth_), swapped 80,000 $EIGEN (valued at $360K) for 58.28 million $CULT over the past two days. Known for his sharp trading moves, blurr.eth. gained recognition back in 2021 for a notable wash trade involving his #9998 punk, which earned him 124K ETH. His portfolio also includes a profit of 215 ETH ($255K) made during the stETH depeg in 2022, as well as his involvement in deploying $RFD (@ReFundCoinETH) in 2023.

Despite the volatility and skepticism surrounding $CULT, these well-known traders are showing confidence in its potential. Their continued investment in the token suggests that they see long-term value despite the challenges faced by the project. As these high-profile traders hold significant stakes in $CULT, their moves are likely to influence other market participants, keeping the token in the spotlight.

While $CULT’s price has been fluctuating, its strong backing from experienced traders could signal more upside potential if the token’s underlying fundamentals strengthen over time.

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 Smart Traders Continue To Bet On $CULT Despite Controversial Launch And Price Decline appeared first on The Merkle News.

CULT-2.49%

MILADYCULT13.61%

X-1.75%

MOVE-0.89%

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