Key Highlights
- CASHCAT trader 0x4A5 saw a position worth over $3.8 million fall to around $1.1 million, a decline of more than 72%.
- CASHCAT’s market cap dropped from $230 million to around $56 million within three days.
- While long traders suffered heavy losses, the StablesCraftworth wallet reportedly made about $140,000 from short positions.
CASHCAT traders have suffered heavy losses after the meme coin lost more than 70% from its recent peak, with one trader’s position falling from over $3.8 million to about $1.1 million as the token faced a sharp sell-off.
In an X post, analytics firm Arkham stated a trader with the wallet tag “0x4A5” bought 2% of CASHCAT’s supply at launch for only $144. The trader sold part of the holdings as the token surged, but still holds more than 80% of the original position, with half of the remaining tokens reportedly deployed as liquidity on Uniswap.
At CASHCAT’s peak, the trader’s holdings were worth more than $3.8 million. The position has since dropped to around $1.1 million, representing a drawdown of more than 72% from the top.
Another trader faces a $460,000 unrealized loss
The decline has also affected other traders who bought CASHCAT during its rapid rise.
In a Friday post on X, LookonChain reported that another trader with the tag “0x5fe6” spent 405 ETH, worth about $750,000, to purchase 5.04 million CASHCAT tokens. Following the correction, the position was valued at approximately $290,000, leaving an unrealized loss of about $460,000, or 61%.
Another investor sold 6.12 million CASHCAT tokens on July 15 after holding them for only one day. The sale brought in 383.6 ETH, worth around $735,000, but resulted in a realized loss of 135 ETH, or approximately $259,000.
CASHCAT market value drops more than 70%
The token has also declined sharply during the sell-off. According to CoinMarketCap data, its market capitalization fell from $230 million to $70 million and has since dropped further to around $56 million within three days, representing a decline of more than 70%.
The sharp decline prompted crypto influencer Ronald Carter to question the speed of the sell-off.
“How is it possible that a large memecoin like CASHCAT drops from $230m to $65m in 72 hours,” Carter wrote on X.
According to CoinMarketCap, the token is now trading around $0.005 after a 32% 24-hour decline, with daily trading volume reaching $83 million.
Short seller makes $140,000 during the crash
While long traders faced losses, a StablesCraftworth wallet reportedly gained around $140,000 from short positions opened near CASHCAT’s local top, along with approximately $10,000 in funding fees.
Another trader reportedly turned 0.49 ETH, worth about $838, into 580 ETH, or approximately $1.04 million.
Meanwhile, the token’s performance serves as a reminder of the importance of liquidity, community strength, and broader market sentiment in sustaining post-listing momentum. Investors should exercise caution when trading highly volatile tokens.
Also Read: Will XRP Hit $1.50? July’s Biggest ETF Inflows Meet Declining Whale Selling
