coinquora.com
PeckShield has released a rug pull alert on TeddyDoge (TEDDY) as its price has dropped by nearly 100%, and a large number of assets have been transferred to one wallet address.
According to PeckShield, TEDDY and the DRAC Network is a soft rug pull. This follows after the price of Teddy has dropped around 99.4% recently. Furthermore, the assets sit in address 0x902f83751295d6924c63fc121f770cfc3cfc1347, according to the the Binance Smart Chain block explorer, BSC Scan.
The address received approximately 10,000 Binance Coin (BNB) cumulatively and around 2 million Binance USD (BUSD). These assets are now being slowly transferred to the Binance exchange.
The crypto market tracker website, CoinMarketCap, shows that TEDDY’s price has also weakened against the two market leaders, Bitcoin (BTC) and Ethereum (ETH), by around 99.74%. At the time of writing, one TEDDY is worth 0.000000000009 BTC or 0.000000000129 ETH.
The daily trading volume for TEDDY shows how an influx of trading activity has entered TEDDY’s ecosystem as the total activity has increased by 253.09% over the past 24 hours to take the total to $8,296,091.
The daily chart for TEDDY/USDT shows that TEDDY’s price is listed at $0.0006 during launch. After four days, the price dropped to $0.00014474. Although the selling pressure was too much to handle for TEDDY investors, its price did manage to recover back to $0.00057453, where it consolidated for a short while.
Since the consolidation, TEDDY’s price has been on a steady decline, with the steepest decline taking place over the past four days.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.