Three Arrows Capital co-founder Su Zhu mentioned on Monday that he had gone lengthy on meme coin Three Arrowz Capitel (3AC). The crypto token worth skyrocketed over 30% sharply and at the moment trades close to $0.040, witnessing a pointy pump and dump.
Su Zhu Goes Long on 3AC Meme Coin
Three Arrows Capital co-founder Su Zhu took to the X platform on October 14 to reveal his newest buy. He has taken an extended place in Three Arrowz Capitel (3AC) meme coin at $0.0321. This sparked a sudden spike within the token elevating hypothesis within the crypto neighborhood.
Three Arrows Capital co-founders Su Zhu and Kylie Davies launched their very own meme coin, a purposeful misspelling of their failed hedge fund. The coin remained in controversy attributable to insiders’ wallets controlling the vast majority of holdings.
longed $3ac at .0321 pic.twitter.com/w1KLTfNu52
— 朱溯 🐂 (3/AC) (@zhusu) October 14, 2024
3AC coin witnessed a greater than 60% dump after the launch early this month. The sudden surge was additionally seen as a pump-and-dump scheme by the crypto neighborhood attributable to low liquidity. Traders probably see these cryptocurrencies as much less steady within the markets. Instead, these are some best meme coins traders ought to put money into.
Three Arrowz Capitel Price Soars 30%
Three Arrows Capital has blamed Terraform Labs (TFL) for its collapse and has made an enormous demand to recoup over $1.3 billion from TFL. Meanwhile, the agency behind Terra undergoes chapter proceedings after $4.3 billion in settlement with the U.S. SEC.
Three Arrowz Capitel worth noticed a sudden soar of over 30% right this moment after Su Zhu mentioned he has already gone lengthy on the meme coin. Trading quantity shot up greater than 700% within the final 24 hours. However, the value pared positive aspects after hitting a 24-hour excessive of $0.0444.
At the time of writing, the value is buying and selling at $0.0364. The 24-hour high and low are $0.02947 and $0.0444, respectively. Also, it has a liquidity of 4.75% within the final 24 hours. The 3AC worth remains to be down 1% in per week.
Varinder Singh
Varinder has 10 years of expertise within the Fintech sector, with over 5 years devoted to blockchain, crypto, and Web3 developments. Being a know-how fanatic and analytical thinker, he has shared his data of disruptive applied sciences in over 5000+ information, articles, and papers. With CoinGape Media, Varinder believes within the enormous potential of those revolutionary future applied sciences. He is at the moment protecting all the most recent updates and developments within the crypto trade.
Disclaimer: The introduced content material could embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty on your private monetary loss.
