COOKIE Token Drops 27.5% After Major Transfers to Binance  

• COOKIE token price plunged 27.5% in 24 hours after a significant $12.55 million transfer to Binance.  
• Market cap of COOKIE now stands at $171.09 million, with 30.12% of total supply in circulation.  
• The COOKIE market sees high volatility as major wallet transfers impact trading volume and sentiment.  

COOKIE token, with a market cap of $171.09 million, has 321,637,101 tokens in circulation, making up 30.12% of its total supply of 1 billion tokens. The token has recently experienced sharp market fluctuations following significant wallet activities and a major sell-off.  

Major Transfers Spark Volatility 

A multi-signature wallet linked to the COOKIE project initiated substantial movements hours after Binance announced it would list the token. Shortly after the announcement, the wallet transferred 20 million COOKIE tokens, valued at $12.55 million, to Binance. This triggered a widespread sell-off, causing significant price drops in a short span.  

The COOKIE movement began with the “Cookie: Deployer” address, which transferred 75 million tokens, worth $8.92 million, to a probable multi-signature wallet labeled “Cookie: Multisign (likely) 0x458.” Subsequently, 20 million tokens, valued at $1.3 million, were directed to the address “0xf467db17…967.” These were then sent to Binance, where they were deposited into the “Binance 6” wallet.  

Impact on Token Price and Sentiment 

The sell-off significantly impacted COOKIE’s price. Approximately 20.001 million tokens were sold for $12.375 million at an average price of $0.619 per token. Although the price temporarily surged before the sale, it plummeted by 27.5% in just 24 hours, settling at $0.531 at the time of writing.  

Besides the price drop, trading volume also decreased following the sell-off. This indicates that the market may now be entering a consolidation phase. The wallet involved in the transfers still holds COOKIE tokens valued at approximately $11.33 million, suggesting further potential for market activity.  

The significant wallet activity and resulting volatility underscore the speculative nature of the COOKIE market. While the token’s trading volume has tapered, its future trajectory depends on upcoming market sentiment and activity.