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Odaily Planet Daily News: The meme token moonpig, which has been frequently promoted by whale trader James Wynn, has dropped over 30% today, with its market value falling back to around $52 million. In response to the community's panic, James Wynn posted on X, stating: "The FUD surrounding moonpig is ridiculously insane. That top holding address was never mine, just a stranger no one can contact. He decided to take profits and sell, and now people are saying it was me dumping? I usually ignore such FUD, but I've never sold a single cent of moonpig. Do I hold tokens myself? Of course! Do I have paper profits? Yes, but they're all unrealized gains, not a penny cashed out! The team is doing a fantastic job, and this is just an unusual fluctuation caused by early whale selling. Do you really think that when I hold contract positions worth hundreds of millions of dollars, I would care about selling tokens worth tens of thousands of dollars? On the other hand, this wave of FUD has actually completed an important reshuffle of holdings, as many early buyers have seen exponential gains after the rapid price surge. I am absolutely bullish on moonpig's long-term prospects."

According to ChainCatcher, on-chain analyst Ember has monitored that a whale/institutional address purchased 30,000 ETH through Wintermute OTC 6 hours ago at a price of $2,513, with a total cost of approximately $75.39 million USDC. This address had previously sold the same amount of ETH on May 22 at a unit price of $2,621, making a profit of about $23.73 million (+43%). This round of low-level replenishment allowed for an additional arbitrage of $3.24 million between the two transactions.