As a seasoned crypto investor with a keen eye for market trends and an even keener sense of skepticism, I find myself cautiously optimistic about Su Zhu’s recent move to go long on 3AC, the meme coin associated with Three Arrows Capital.
On Monday, Su Zhu, co-founder of Three Arrows Capital, announced that he had taken a bullish position on the meme coin associated with their firm (Three Arrows Capitel). As a result, the token’s price surged by more than 30% dramatically and is now trading around $0.040, showing signs of significant increase followed by decrease in value.
Su Zhu Goes Long on 3AC Meme Coin
On October 14, Su Zhu, co-founder of Three Arrows Capital, revealed on a platform X his recent investment. He has decided to invest long-term in the meme coin associated with Three Arrows Capital (3AC) at $0.0321. This announcement ignited an immediate increase in the token’s value, fueling speculation among cryptocurrency enthusiasts.
As a researcher, I find it intriguing to share that Su Zhu and Kylie Davies, co-founders of Three Arrows Capital, have ventured into creating their own meme coin, which is a playful misinterpretation of their previously shuttered hedge fund. However, this new venture has been embroiled in debate due to the fact that a significant portion of the coin’s holdings are controlled by insider wallets.
longed $3ac at .0321
— 朱溯 (3/AC) (@zhusu) October 14, 2024
3AC coin experienced a drop exceeding 60% following its launch this month. This abrupt increase has raised suspicions within the crypto community that it was a pump-and-dump strategy due to low market liquidity. As a result, many traders view these cryptocurrencies as less reliable in the market. However, here are some popular meme coins that investors might find more promising for investment.
Three Arrowz Capitel Price Soars 30%
Three Arrows Capital has pointed the finger at Terraform Labs (TFL) for its downfall and is asking for more than $1.3 billion to be repaid by TFL. Simultaneously, the entity responsible for Terra is going through bankruptcy proceedings following a $4.3 billion settlement with the U.S. Securities and Exchange Commission (SEC).
Today, Three Arrowz Capital’s price surged by over 30% following Su Zhu’s announcement that he had bought into the meme coin. The trading volume skyrocketed over 700% within the last 24 hours. Nevertheless, after reaching a 24-hour peak of $0.0444, the price experienced a decrease.
As I compose this, the current trading price hovers around $0.0364. Over the past 24 hours, the lowest it dipped was at $0.02947, while the highest it reached was $0.0444. In terms of liquidity, it shows a 4.75% volume within the last day. However, I must note that over the past week, the price of 3AC has decreased by 1%.
Read More
- LUNC PREDICTION. LUNC cryptocurrency
- SOL PREDICTION. SOL cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- BICO PREDICTION. BICO cryptocurrency
- USD CLP PREDICTION
- USD PHP PREDICTION
- USD ZAR PREDICTION
- USD COP PREDICTION
- VANRY PREDICTION. VANRY cryptocurrency
- RIDE PREDICTION. RIDE cryptocurrency
2024-10-14 10:45