"Immediate Success" drops over 30% in a short time, some traders switch positions to "Here I Come"

On January 8th, according to GMGN monitoring, at 3:00 PM today, following the significant surge after the launch of “I’m Riding My Horse” on CEX Alpha, the price of the “Horse Success” token experienced a noticeable decline, dropping nearly 30%, reaching a low of $0.001, and now rebounding to around $0.0012. The market cap is approximately $1.22 million. Additionally, within the past 24 hours, addresses ranked fourth and fifth in “I’m Riding My Horse” buy list (0x443) and (0xf88), as well as the sixth in “Horse Success” sell list (0xad8), all conducted position swaps during or before the token’s Alpha phase. Notably, address (0xad8), after swapping part of its holdings for “I’m Riding My Horse,” bought about 1.66 million tokens at a high of $0.0057, and currently this position is approximately 26% in loss. BlockBeats reminds users that Meme coin trading is highly volatile, heavily dependent on market sentiment and hype, with no real value or utility, and investors should be cautious of risks.